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View Full Version : What is a quick claim??



1manshow
04-16-2007, 06:57 PM
A recently married family member was asked to sign one from her husband. She called me asking what that meant, so i thought i would ask my ***boat advisors for some help. 1manshow

MRS FLYIN VEE
04-16-2007, 06:59 PM
a quick claim is a paper that gives that spouce or who ever sole ownership of all owned materials houses ,cars, etc..

Boatcop
04-16-2007, 07:00 PM
I think she means a "Quit Claim" Deed.
It's used to sign away interest in Real Property.

Racey
04-16-2007, 07:03 PM
what boatcop said.

DCBob
04-16-2007, 07:09 PM
I think she means a "Quit Claim" Deed.
It's used to sign away interest in Real Property.
Correct answer ;) :)

MRS FLYIN VEE
04-16-2007, 07:12 PM
I suck :cry: either way she shouldn't sign it.:D

1manshow
04-16-2007, 07:18 PM
Thanks you guys It seemed a little strange to me.

wsuwrhr
04-16-2007, 07:36 PM
Regardless, in California, I believe it is more of a formality to get away with certain things that have to do with financial, legal, or tax aspects.
California is a cummunity property state. If that asset is theirs AFTER they got married, doubtful she is really "signing" away anything. If they got a divorce, she would end up with her portion anyway.
If the asset was "his" before they got married, then she may be signing it away.
If your friend is so concerned, maybe she should consult an attorney, or maybe grab her husband and go see one.
My worthless two pennies.
Brian

Riomouse911
04-16-2007, 08:07 PM
A quit claim deed is a legal document recorded at the County recorder's office by which a person releases or "quits" any claim that they may have had to property. Other types of deeds are judicial deeds, warranty deeds, deeds of trust, will deeds, and sheriff's deeds.
Quit Claim deeds do not release the person quitting claim from their obligations under a mortgage, although a quit claim deed can be a step in the right direction. In order to remove the party who quits claim from the mortgage, you have to refinance the mortgage in the name of whoever the property is deeded to. Of the different types of deeds, the quit-claim has the least assurance that the person receiving it will actually get any rights.
The funky thing about them is any person who provides a quit-claim deed makes no warranty or representation that they actually own anything. The quit-claim merely provides that whatever they had or may have had, they are conveying it to whoever is listed on the deed.
She should probably seek legal advice if she's divorcing, or involved in a family trust/probate spat.

Havasu1986
04-16-2007, 08:41 PM
[QUOTE=Riomouse911;2505478].
Quit Claim deeds do not release the person quitting claim from their obligations under a mortgage, although a quit claim deed can be a step in the right direction. In order to remove the party who quits claim from the mortgage, you have to refinance the mortgage in the name of whoever the property is deeded to.
I learned this the hard way. When I broke up with a ex, I signed the quit claim and assumed she would refinace. I find out 3 years later that she never did and she let it go to foreclosure. It screwed up my credit for along time.:mad:

BajaMike
04-16-2007, 08:50 PM
A recently married family member was asked to sign one from her husband. She called me asking what that meant, so i thought i would ask my ***boat advisors for some help. 1manshow
Yea, what everyone else said....tell her not to sign it without legal advise!
:idea:

Summer LuvN
04-16-2007, 09:01 PM
If she signs without monetary gains it means nothing, she is still intitled to 1/2
Lots of couples split their credit for ratios. If the house is placed into a trust, it could be a whole different game...

BajaMike
04-16-2007, 09:10 PM
Sure, take the side of a Woman!
Now we know, where you loyalty lies.
Not really.....:)
I like the idea of legal advice.....when signing legal documents.....JMHO....
:D

C-2
04-16-2007, 09:17 PM
As WSUWHR points out, Cali is a community property state.
In order for the husband to own the property outside of the “community estate”, the spouse must sign a separate Quitclaim Deed, which relinquishes her title/right to ownership. It perfects the “sole and separate property” manner in which title is held.
Without the separate Quitclaim Deed, she would still have a potential claim under Cali community property laws.
Not uncommon, unless of course the subject property was previously owned together.
For example:
Husband and wife are married, but husband wishes to purchase a separate piece of investment property. Wifey agrees. So the transaction would look like this:
Seller transfers to Husband via a full-value Grant Deed
Also in the same transaction, Wife transfers her potential community property interest by executing a separate Quitclaim Deed, transferring her community property interest to Husband.
Husband would now own the property outside the “community estate” as “Husband, as his sole and separate property.” Husband is the owner, lock stock and barrel.
Basically means it’s not up for grabs if they divorce.

Summer LuvN
04-16-2007, 09:20 PM
Sure, take the side of a Woman!
Now we know, where you loyalty lies.
Hey, I signed mine over. It's just a house. Now the boats a different story. I had to do some serious negotiations for the daytona and I don't think I could get the same deal, maybe,one of my family members goes waaaaaaaaayyyyyyyyyyyyyy back with Bob Leach of Eliminator boats. This one is about paid for. It's not that I don't want HIM to have it. I just don't think some skank should be riding in something that was our good times, ya know??? House? Furniture? Cars? TAKE THEM!!!

Summer LuvN
04-16-2007, 09:22 PM
If we split..... He's selling!!!!! LOL!!! He can do his own negotiations...LOL

boatsnblondes
04-16-2007, 09:26 PM
IT may not have been a quit claim, it could have been a quick claim all along..that a form of money order sent through western union....all this talk about quit claims may be all for naught......:eek:

SB
04-17-2007, 07:14 AM
Not to disagree with the above, but it might be a routine transaction. The husband is selling, and the closing agent or buyer wants to make sure the wife has no claim, so routinely ask for the wife to sign.
Yes, see a lawyer if you don't know what you are signing.

Hallett19
04-17-2007, 08:50 AM
I hang out at retirement homes with a stack of quit claim deeds in my pocket :D

edog_103
04-17-2007, 08:54 AM
In Ca. We call them Quickclaim deeds.
Quitclaim deeds transfer or "quit" any interest in real property

Enen
04-17-2007, 09:19 AM
Are they refinancing their house?