Legal Question in Real Estate Law in Indiana
Quit Claim
In a contract to sell a property,ie a house/ mobile home etc.. what does the term ''quit claim'' mean. Please be specific and list any terms or things might be of interest to the buyer and or seller.
Thak you so much.
Asked on 7/08/03, 3:07 pm
1 Answer from Attorneys
John Bator
Bator Redman & Shive
Re: Quit Claim
A quitclaim deed is one that transfers title without warranty or surety. Any risk associated with the title is passed to the grantee or buyer. If I was a buyer I would never accept a quitcliam deed as opposed to a warranty deed. Quitcliams are used to clear title problems.
Answered on 7/08/03, 4:26 pm
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