Quitclaim Deed Property with Back Taxes into Trust
Quitclaim Deed Property with Back Taxes into Trust
Quitclaim deeds can avoid a clouded title (liens, back taxes, etc.) via an as-is deed conveyance, but the property cannot be sold to anyone requiring financing unless the outstanding liens are paid.
What Is a Quit Claim Deed A quit claim deed is a type of deed that transfers ownership of real property from one person to another without any types of warranties. This means that if you receive property via a quit claim deed, you're taking it as it ...
Yes, the transfer can still occur via a Quitclaim Deed (sells home as-is). An unpaid mortgage clouds title, but can still be transferred into a trust; however, the loan must be repaid in full to sell the property to any entity who requires financing ...
Some states have what is known as a 'property tax cap rate' which guarantees the property taxes for a primary residence will not increase beyond a given amount by law. When a property is transferred via a quitclaim deed or a person is added / removed ...
The trust can outright purchase the asset with cash/credit or it can seek financing - this requires building corporate credit. In most scenarios, someone will personally apply for a loan and then transfer the asset into the trust via a Quitclaim Deed ...
Even when there are multiple documents/deeds for a real estate transaction, the Deed of Trust can be used without need to refer to all other documents. The primary purpose of Real Estate Secrets is to secure chain of title all the way back to the ...