Ms. Alyce: "Quit-claims" are legal instruments which may be read to say, "I do not represent that I own any interest whatever in this property, but if I do I hereby transfer that interest to you." Said another way, a "quit-claim" says, "What that court and those lawyers say that I own, I hereby convey it to you, but I have no idea whether or not they know what they are talking about and you must realize that I may own NOTHING atall."
On the other hand, a "deed" is a document that reveals one's intention to sell a known and definite interest. Deeds almost always describe with accuracy what the interest is that is being transferred and also carry warranties that may be read to say, "I guarantee that I own these interests that I am selling to you, that there is no obstacle to my selling this interest, and if it is learned that, in fact, I do not own this tract as I hereby say I do, I will refund your money or otherwise make good any loss that I cause you and whoever you transfer it to later."
Considering these differences, it is easy to see why quit-claims are the least risky way to convey to someone else whatever interest you have inherited in an ancestor's land or other property. Also, it should be apparent that the expression "quit-claim deed" is not precise usage and is almost redundant.
"Undivided interest" simply means that you and another or others own an interest in the whole of some property. In such ownership, those interests can be separated by a) selling the property and dividing the money, or b) agreeing how that property may be physically divided so that all the divided interest owners either have an equal share or are satisfied with the division proposed. Paul
----- Original Message -----
From: [log in to unmask]
Subject: Re: Pinning Death Dates -- Another question on wills
In a message dated 1/30/04 2:00:46 PM Central Standard Time, [log in to unmask] writes:
Then too, don't forget that "quit-claims" were the very common legal device by which siblings passed their undivided interest in lands inherited to their other siblings, so always check the deed records for at least a year after a death to see if any one child bought the land from the others. Paul
In fact because of the quit claim deed to myself, we just did not file my fathers will!
regards
ALyce
To subscribe, change options, or unsubscribe please see the instructions at
http://listlva.lib.va.us/archives/va-roots.html
|