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Updated about 8 years ago, 10/02/2016

User Stats

34
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5
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Darius Howell
  • Shelby, NC
5
Votes |
34
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Quit Claim Deed

Darius Howell
  • Shelby, NC
Posted
Does anybody care to explain how a "quit claim deed" works for wholesalers?? I'm in NC and trying to figure out where to go to obtain these file.

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16,433
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12,708
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Ned Carey
Pro Member
  • Investor
  • Baltimore, MD
12,708
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16,433
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Ned Carey
Pro Member
  • Investor
  • Baltimore, MD
ModeratorReplied

I have no idea what you mean by how they work for wholesalers.

I also do not understand what you mean by

I can tell you what a quit clam deed is. Basically a quit claim deed says, "if I have any interest in this property, and I am not say that I do have interest in this property, any interest I may or may  not have is transferred to you." I could legally give you a quit claim deed to the Trump Tower. (or one of the Clinton's mansions, or any other property)

Quit claim deeds are grossly overused and over promoted by Gurus. They are a weak deed and should be avoided. 

There are legitimate uses of Quit claim deeds. One example would be getting a quit claim deed from heirs of a property, or to otherwise clear up the title. In a  situation like that it would be a title company or attorney that would be advising you how to use one.

  • Ned Carey