Music, alright. I'm Dave Dinkle with the 2-minute tip. Today, I'm going to talk briefly about quitclaim deeds. They're not "quick claim," they aren't "quit queue uit" claim deeds. But what that simply means is the seller quits any acknowledgement or responsibility for anything attached to the property at that time when he transfers the quitclaim deed to the buyer. Now, if you happen to be a buyer out there, an investor looking around for properties, and you see what seems like a fabulous deal, and you'll see them many times, they just look out of proportion compared to the rest of the marketplace. But you notice that it says it only transfers the property by a quitclaim deed, well, that means there's something wrong. It does not have a clear and marketable title. They're very often associated with tax deed sales for numerous reasons. I'm not going to get into why tax deeds do not transfer with clear and marketable titles, and anything else, you just never know. So, my tip is going to be short. I'm saying to you, be careful if you take on the responsibility of a quitclaim deed. You may have a property that's a money pit. As well, if liens are cross-collateralized by the county, you may have to pay off a giant lien on another property that you just took on that quitclaim deed against the property that was free and clear, something else like a rental, a rehab, or something else you had. So, a big red flag should fly up the pole immediately when somebody says they want to do a quitclaim deed. If they give you a reason like it's just quicker, no, it's not quicker for you. It's huge liabilities being passed on to you, potentially. Now, I remember seeing a video...
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Colorado legal s Quit Claim Deed Form: What You Should Know
In most cases, these guarantees are found in a Colorado Quitclaim Deed Form — Legal Template Use our free Quitclaim deed form to transfer property with no warranty of title from an owner to a seller.
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