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Quit Claim Deed – DIY Can Bring Problems

deedWhen transferring title to a property, many folks just go online and find a Quit Claim Deed form and file it themselves. Even though they aren’t sure if it’s the best way to transfer title.

Owning a property, whether your primary residence or an investment, is likely to be one of the biggest purchases a person makes in their lifetime. Why risk that investment by trying to save money on legal fees? Unless you’re fully versed in real estate laws and know that what you’re doing won’t come back to bite you in the proverbial butt, you should seek legal counsel in such matters.

Even I, as a real estate broker, seek guidance from attorneys all the time. Because I am not an attorney and I don’t know everything, I choose to cover all bases.

Here’s an example of a seemingly innocent and correct use of a Quit Claim Deed which backfired and has the potential to cost the homeowners thousands upon thousands of dollars.

If you’re not absolutely sure of what you’re doing, seek professional advice in such matters. Being penny wise but dollar foolish is most often that….foolish.

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These articles are not intended to give legal or tax advice, and you should consult your attorney or financial advisor for additional information.

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