What is a quick deed transfer?

In: Home Buying, Law and Legal Issues

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If you mean a "Quit Claim Deed". Here's your answer. For instance if you own a house and you just want out of it, no money, just out. You would sign a Quit Claim Deed to tranfer all of your "interest" in that home to another person, giving up your responsiblity or "interest" to the house. This is signed in front of a notary public and filed with the courts and the mortgager. You then are no longer responsible for the payments, the other party is now legally responible for the debt. If they do not pay, you have one year to make up the payments and have it returned to you. If you don't want to do this, it shows no reflection on your credit.

First answer by Silver12b. Last edit by Silver12b. Contributor trust: 72 [recommend contributor]. Question popularity: 38 [recommend question]

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