Legal Question in Real Estate Law in Colorado

If you do a quit claim in Texas, the recipient (ie your children) only receive what you owned, which in this case includes the house, the taxes, any mortgages and all other liabilities associated with the house. Once the deed is filed (if legally filed), then the new owners (ie your children) now must pay the taxes (owed before and after their ownership) and the insurance (if required). Generally insurance is required if you have a mortgage on the property; otherwise it is optional. You cannot legally quitclaim your house if it still has a mortgage on it.

Once a quitclaim has been validly filed, then the new owners (the Children) can sell the house. But, they may have a problem selling the house if the new buyer wants clean title on the home and requests a title policy. Quitclaims do not give the subsequent buyer (or the title company preparing the title policy) much comfort about the title history of the property and sometimes this can present a problem on resale.