Quit Claim Deed?
“I think I need a Quick Claim Deed”
I get many inquiries on this topic. People want to transfer property without consideration (i.e. no money is changing hands) for many different reasons. A couple has gotten divorced, and one of the parties gets the home; a parent dies, and remaining child(ren) want the house deeded to them; an elderly parent wants to transfer their home to a child or grandchild; the owner of a rental property wants to transfer ownership to a company they own.
The actual term is Quit Claim Deed. With this type of transfer, you are giving the other person whatever rights you may have in a property, and subject to any liens or title defects that may affect the property. The only thing that changes is ownership. If there was a mortgage before, there is still a mortgage attached to the property. If there was a lawsuit against a prior owner that affects the property, it still affects the property. There are no warranties as to the title.