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Updated over 3 years ago on . Most recent reply

User Stats

38
Posts
11
Votes
Shashank Gokhale
  • San Antonio, TX
11
Votes |
38
Posts

Need help with a QuitClaim form.

Shashank Gokhale
  • San Antonio, TX
Posted

Im in San Antonio, TX.  Here's the story: Im trying to buy a house.  The house belongs to a divorced couple, who both appear on the title.  The wife just wants to be done with the house and will sign over the title to the husband through a quitclaim deed, without asking for any money.  Now I know a quitclaim deed carries no warranty on title or any other warranty, but the house is currently in both these peoples names, and their mortgage is paid off already.  

He doesnt want to pay for a lawyer to create a quitclaim deed, and neither does she, they both want the other person to pay that lawyer.  And they dont want me to pay for the lawyer either, because they are possibly very wary that I might do something to steal their house, or they think that the money spent on a lawyer is money that they could get.

So basically, is there a lawyer on here who can tell me the essentials of what a quitclaim deed is, who is the grantor and who is the grantee, if both people owned the house and one is just relinquishing rights in the property?  I know the husband, who is going to be the recipient, will be the grantee, but is the grantor just the wife or both of them?  also, does she need to state specifically in that deed that she is 'quit claiming all rights' in the property to the grantee or should the words be 'quit claiming 100% of the rights'?

Also, does the execution of this deed require some sort of monetary exchange to be mentioned?

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