Legal Question in Real Estate Law in Indiana

Re: Quit Claim Deed

A quit claim deed is a way to transfer whatever interest you have in real esate to another person.

Even if you have no ownership interest in the property, you can quit claim it to another person.

For example you could transfer your interest in my house to another person, even if you don't have any interest. By "interest" I mean ownership.

Typically these types of deeds are used in Family transactions.

With a quit claim deed you do not warrant that you have any interest in the property. The person receiving the deed has no guaranty that title is good.

email me if you have any more questions.

Re: Quit Claim Deed

Thank you for writing "quit" instead of "quick".

However, it is a quick kind of deed. In it, you give up any claim to any rights you may have in a particular piece of real estate. You may have eaten lunch there one time. The rights are rarely spelled out. As such, they must be recorded to have effect.

Usually, they are friendly transfers of real estate, within a family, for example. Sometimes when a person wants to change they way they own property. For example, most married couples own property as "Joint tenants with rights of survivorship and not as tenants in common" (AKA JTWROS). If they want to transfer this to a "tenancy by the entirety", it is done by a quit claim deed.

(If you want to know more about these estates look them up on the internet! An estate is simply your 'stuff' and can be tiny.)

Be warned, though, that because Quit Clam Deeds are so vague, fast and easy, judges don't like them. I suspect that many of them don't get recorded.

Re: Quit Claim Deed

First of all, let me apologize for the delay in answering your question. A quit claim deed is one that transfers no warranty of good title only whatever interest the grantor had, even if it's defective. It's generally used to add relatives to a title for estate planning reasons or to transfer title into a land trust, for example.