Legal Question in Real Estate Law in Wisconsin

Re: QuitClaim Deed

You can transfer all of your interest in a parcel of real estate by executing a quit claim deed. By signing the deed you are not warranting that the title is good or that the property is free from liens. The transferee take the property as it is.

This does NOT extinguish any liability you may have to pay any lien or mortgage that may be secured by the property - that is a separate issue. And you cannot compel another person or entity to accept the deed, so you cannot do this unilaterally. Someone or some entity has to agree to accept the deed.

If it a deed in lieu of a foreclosure the lender usually is accepting the property back in satisfaction of the loan, but you must get this in writing to be certain.

For whatever reason you are seeking to sign off on the property, you should seek the advice of an attorney to be sure that you are accomplishing what you think you are accomplishing by giving the deed. It can have far reaching consequences

Re: QuitClaim Deed

If someone has an interest in your real estate and they are willing to give up that interest, they may sign a quit claim deed to you, thereby transferring whatever interest they may have in the property to you.

Re: QuitClaim Deed

A quit claim deed is a release by the grantor to the grantee of grantor's interest in real estate. This does not release the grantor from liability for such things as a mortgage note.

This is not intended to and does not provide legal advice. Rather, we only offer general feedback which may not be applicable depending upon the totality of the facts. Please contact us directly if you have specific questions or concerns. http://www.Grahamlaw.biz