Idaho Sample Letter for Quitclaim Deed for Foreclosed Property
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How to fill out Sample Letter For Quitclaim Deed For Foreclosed Property?
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FAQ
NounLaw. a transfer of all one's interest, as in a parcel of real estate, especially without a warranty of title.
Idaho does not offer a statutory form for a deed. Common deeds in this state are the warranty deed and quitclaim deed. A warranty deed includes covenants of title while a quitclaim deed does not. Any person, whether citizen or alien, can take, hold, and dispose of real or personal property in Idaho (55-103).
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.
Recording ? The quitclaim deed must be filed at the County Recorder's Office (See County List) in the jurisdiction of the real estate. Signing (§ 55-805) ? A quitclaim deed must be signed with the Grantor(s) in front of a notary public.
A quit claim deed in a divorce or legal separation gives one party the sole ownership of the property. This allows that party to sell or mortgage the property without the approval or consent of the other party.
