There are two basic types of deeds: a warranty deed, which guarantees that the grantor owns title, and the quitclaim deed, which transfers only that interest in the real property which the grantor actually has. The only type of deed that creates "liability by reason of covenants of warranty" as to matters of record is a general warranty deed. A quit claim deed contains no warranties and the seller doesn't have liability to the buyer for other recorded claims on the property. The purchaser takes the property subject to existing taxes, assessments, liens, encumbrances, covenants, conditions, restrictions, rights of way and easements of record. The quitclaim is often used among family members or from one joint owner to the other when there is little question about existing ownership, or just to clear the title.
A Lee's Summit Missouri quitclaim deed from ex-husband and ex-wife to themselves, changing the title from tenants by the entirety to tenants in common pursuant to a divorce decree, is a legal document that enables the transfer of property ownership from a married couple to themselves individually. This type of deed is commonly used in cases of divorce where the couple wishes to sever their joint ownership rights and establish separate ownership interests. The quitclaim deed acts as a legal instrument allowing the ex-spouses to relinquish any rights or claims they may have on the property. By executing this document, they effectively acknowledge the divorce decree's terms and agree to divide the property as determined in the settlement. The quitclaim deed ensures that both parties have an official, recorded recognition of their new ownership interests. In situations where ex-spouses owned the property as tenants by the entirety, meaning joint ownership with rights of survivorship, this type of quitclaim deed enables them to change the title to tenants in common. Tenants in common refers to a form of co-ownership where each individual holds a distinct, transferable interest in the property. Unlike tenants by the entirety, the ownership does not automatically pass to the surviving owner upon death. The Lee's Summit Missouri quitclaim deed from ex-husband and ex-wife to themselves may have variants depending on specific circumstances and legal requirements. Some possible variations or types of quitclaim deed relevant to this scenario may include: 1. Standard Quitclaim Deed: The typical form of quitclaim deed used in divorces, allowing for the transfer of property ownership between parties. 2. Divorce Decree Quitclaim Deed: A specialized quitclaim deed prepared specifically in compliance with the terms outlined in the divorce decree. 3. Quitclaim Deed with Consideration: In some cases, the transfer of property ownership may involve some form of monetary consideration or settlement, making this variation more appropriate. 4. Tenants in Common Quitclaim Deed: Specifically tailored for changing the ownership from tenants by the entirety to tenants in common, clearly defining the new ownership structure. It is important to consult with a legal professional or an attorney familiar with the local laws in Lee's Summit, Missouri, to ensure the relevant quitclaim deed accurately reflects the provisions of the divorce decree and meets all legal requirements.A Lee's Summit Missouri quitclaim deed from ex-husband and ex-wife to themselves, changing the title from tenants by the entirety to tenants in common pursuant to a divorce decree, is a legal document that enables the transfer of property ownership from a married couple to themselves individually. This type of deed is commonly used in cases of divorce where the couple wishes to sever their joint ownership rights and establish separate ownership interests. The quitclaim deed acts as a legal instrument allowing the ex-spouses to relinquish any rights or claims they may have on the property. By executing this document, they effectively acknowledge the divorce decree's terms and agree to divide the property as determined in the settlement. The quitclaim deed ensures that both parties have an official, recorded recognition of their new ownership interests. In situations where ex-spouses owned the property as tenants by the entirety, meaning joint ownership with rights of survivorship, this type of quitclaim deed enables them to change the title to tenants in common. Tenants in common refers to a form of co-ownership where each individual holds a distinct, transferable interest in the property. Unlike tenants by the entirety, the ownership does not automatically pass to the surviving owner upon death. The Lee's Summit Missouri quitclaim deed from ex-husband and ex-wife to themselves may have variants depending on specific circumstances and legal requirements. Some possible variations or types of quitclaim deed relevant to this scenario may include: 1. Standard Quitclaim Deed: The typical form of quitclaim deed used in divorces, allowing for the transfer of property ownership between parties. 2. Divorce Decree Quitclaim Deed: A specialized quitclaim deed prepared specifically in compliance with the terms outlined in the divorce decree. 3. Quitclaim Deed with Consideration: In some cases, the transfer of property ownership may involve some form of monetary consideration or settlement, making this variation more appropriate. 4. Tenants in Common Quitclaim Deed: Specifically tailored for changing the ownership from tenants by the entirety to tenants in common, clearly defining the new ownership structure. It is important to consult with a legal professional or an attorney familiar with the local laws in Lee's Summit, Missouri, to ensure the relevant quitclaim deed accurately reflects the provisions of the divorce decree and meets all legal requirements.
