Colorado Quitclaim Deed Curing Encroachment

State:
Multi-State
Control #:
US-0607BG
Format:
Word; 
Rich Text
Instant download

Description

An encroachment involves a situation where a property owner violates the property rights of his neighbor by building something on the neighbor's land or by allowing something to hang over onto the neighbor's property. Encroachment can be a problem along property lines when a property owner is not aware of his property boundaries or intentionally chooses to violate his neighbor's boundaries.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

Due to this, quitclaim deeds typically are not used in situations where the property involved has an outstanding mortgage. After all, it would be difficult for many grantors to pay off a mortgage without proceeds from the sale of the property.

Pros and cons of a quitclaim deed BenefitsDrawbacksQuick and simple process.Doesn't guarantee property ownership.Can transfer property to a family member without going through probate.Rules can vary by state.Transfer is considered a gift, which can reduce estate taxes.Offers no protections for the recipient.

A Colorado quitclaim deed* transfers property from the current owner (the Grantor) to a new owner (the Grantee).

Downsides to a quitclaim deed The greatest risk to receiving property with a quitclaim deed is that you may not have a true right to the property title. The grantor might not own the property title at all, yet quitclaimed you the deed.

While quitclaim deeds offer some benefits, there are also significant risks and disadvantages associated with their use. One major disadvantage is that the grantee assumes all risks associated with the property, including any defects in the title, liens, or encumbrances.

General warranty deeds: A general warranty deed provides the most protection to the buyer but gives the grantor the highest degree of liability. The grantor of a general warranty deed fully warrants good, clear title to the property. This type of deed is used in most real estate deed transfers.

A quitclaim deed conveys whatever interest the grantor has in the property, as distinguished from a grant of the fee or other estate with warranty of title. The grantee takes the title "as is." A quitclaim deed is sometimes called a release deed.

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Colorado Quitclaim Deed Curing Encroachment