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Contracts and Offers

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What is a Quitclaim Deed?

Friday, September 6th, 2013 at 2:42pm. 1143 Views, 0 Comments.

The process of buying a home can be complex, particularly when the home is currently owned by more than one person. One of the ways in which property can change hands is by a quitclaim deed, a legal document that is commonly used when several members of a family own a property. You may find that the seller or property agent presents you with a quitclaim deed or you may have been advised to ask for such a deed. Your insurance company, with whom you are looking to insure your new home, might also require this deed. It is therefore worthwhile to familiarize yourself with this type of deed and how it can be prepared.

Definition of a quitclaim deed   A quitclaim deed is a legal document for transferring any ownership claim, interest, right or title a…

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