What Is A Quit Claim Deed And Should You Use One When Selling A Home?

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It’s completely logical that you cannot sell or convey title to property you do not own. That just makes sense. So, when I sell my home, I can only sell what I actually own, and nothing more. I realize this sounds a little bit silly, but in legal terms it’s actually more complicated. It appears that attorneys always complicate everything, but in reality it’s the situation that’s complicated.

Oklahoma is an oil-producing state, and I buy and sell homes there. However, when I buy the property I rarely obtain mineral rights because they have been excepted from my deed and sold previously. That means the mineral rights will be excepted when I sell my home, too. That’s an example of what I mean when I say I cannot sell what I do not own. No one can convey mineral rights to another buyer that person did not receive the mineral rights when he or she bought the home.

Excepting mineral rights is quite common in many areas, and is it usually handled by deed restrictions. However, there are other situations requiring a special form of deed called a “quit claim deed.” It’s pretty simple to understand, really. Whenever we quit something we are done with it, so a quit claim deed is used to attest that the person signing it has no legal claim to the property.

People asked to sign quit claim deeds most often never had a legal interest in a property anyway, with the exception of married persons who divorce and only one party gets title to the house. Without a quit claim deed from the other spouse there could be title issues in the future. But a quit claim deed paves the way for a clear title, although the document does not convey ownership interest in property when tell people how to sell a house, it does just the opposite.

Yet another example of a common use of a quit claim deed is a person who passed away and who had children by a previous marriage, but her widower (not the children’s father) is selling the house they owned together. Her children from a previous marriage may be required to sign a quit claim deed verifying they have no ownership interest in the house. Whether or not a quit claim deed is required will be legal decisions, usually specified by attorneys working for title companies. Their goal is to assure me I have no title issues when I sell my home.

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Topics: Real Estate | Comments Off

Tags: agent, broker, investor, Real Estate, realtor, Sell a home, sell a home fast, sell a house, sell my house

Article Citation
MLA Style Citation:
Kinstston, Leo "What Is A Quit Claim Deed And Should You Use One When Selling A Home?." What Is A Quit Claim Deed And Should You Use One When Selling A Home?. 9 Feb. 2012. uberarticles.com. 17 May 2012 <http://uberarticles.com/real-estate/what-is-a-quit-claim-deed-and-should-you-use-one-when-selling-a-home/>.

APA Style Citation:
Kinstston, L (2012, February 9). What Is A Quit Claim Deed And Should You Use One When Selling A Home?. Retrieved May 17, 2012, from http://uberarticles.com/real-estate/what-is-a-quit-claim-deed-and-should-you-use-one-when-selling-a-home/

Chicago Style Citation:
Kinstston, Leo "What Is A Quit Claim Deed And Should You Use One When Selling A Home?" uberarticles.com. http://uberarticles.com/real-estate/what-is-a-quit-claim-deed-and-should-you-use-one-when-selling-a-home/

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