Ask Experts Questions for FREE Help !
Ask
    Debwill610's Avatar
    Debwill610 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 7, 2015, 01:03 PM
    Contract for land sale and quit claim deed
    My Husband and I have worked out a Property Settlement Agreement in our divorce. We own a piece of property that we have signed a Land Purchase Contract on. He is the buyer and I am the Seller. Should I sign a Quit Claim Deed to him?
    hkstroud's Avatar
    hkstroud Posts: 11,929, Reputation: 899
    Home Improvement & Construction Expert
    		  
    #2

    Nov 7, 2015, 05:05 PM
    I don't think so. You should consult an attorney.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Nov 8, 2015, 12:15 AM
    No, on a land contract, there is no deed transferred till all the money or other terms are done.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Nov 8, 2015, 06:43 PM
    The purpose of purchasing property on a land sales contract is that the seller continues to have title to the property until the contract has been fulfilled. You would lose that protection if you sign a quit claim deed.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
    Expert
    		  
    #5

    Nov 9, 2015, 03:07 PM
    And when the contract has been performed, transfer title via a warranty deed. The buyer will have paid good money; he deserves a warranty that you actually own the interest you are selling him. I understand that he now owns an undivided interest in the property, but a deed should specify what interest you are actually conveying to him.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Contract sale of property quit claim [ 1 Answers ]

We currently hold a contract on property but the buyer is in default. We think he really would like to get out from under it because he is recently re-married and started getting behind in contract payments after marriage. I want to offer him a quit claim deed and I believe he will sign it. Is...

Quit claim question regarding contract for deed [ 2 Answers ]

Seller is requiring me to sign a quite claim deed property is Indiana (they said it will release me from liability) back to them? Is the legal? As a note, nothing has been recorded regarding this contract for deed Thank you

Is a quit claim deed contract [ 3 Answers ]

In the state of Florida (Gulf County) Father died in 1980--leaving family home--(there is no Will) the house is built by father and all offspring. Father enticed his offspring (siblings {5} total) to help in this endeavor to build a "Family Home which they and their offspring to come would always...

Quit Claim Deed vs. Basis Sale contract [ 1 Answers ]

Hi- I own a condominium 50-50 with a friend of mine. He wants to buy a house on his own and sell me his half of the unit so we can take his name off the current Mortgage. 1- I applied with our original Lender to "buy him out" and they proceeded with a refinance for me to pay the full...

Quit Claim Deed/Contract for Deed [ 7 Answers ]

Ok, I have posted before. I had a contract for deed piece of property, and have myself been going back and forth with a lawyer and the client. Trying to make a offer to end this nightmare. I offered them 1000.00 in 10 payments and at the end of that to sign a quitclaim deed or 500.00 and...

View more questions Search