Top Things to Know Before You Get a Quit Claim Deed

What is a quitclaim deed? A quit claim deed is a legal document that transfers ownership of real property from one person to another. There are several reasons why you may want to get a quit claim deed. You might have inherited land that you do not know anything about. Or maybe you bought a house that was previously owned by someone else. In either case, if you own the property, you will probably want to transfer the title to yourself. A quit claim deed is a great way to do this.

However, there are some things you should keep in mind before getting started.

1. Know Your Land's Title History

Before you start looking at any documents, make sure you know what kind of history exists on the property. If you are buying a piece of land that already has a mortgage, you will need to find out who owns the original lender.

Once you find out who owns the loan, you can check their records to see if they have ever filed a foreclosure action or sued anyone over the property. If they have, you will need to talk to them first before transferring the title. Otherwise, you could end up losing money.

2. Make Sure You Have All Documents Ready

If you are going to sell your land, you will need to show proof that you own it. You can do this by showing the seller a copy of your deed. If you plan on selling it yourself, you will need to provide a copy of your quitclaim deed in Mississippi along with a signed contract. The buyer will then pay you for the property once he receives the paperwork.

3. Be Careful Who You Sell To

When you sell your land, you have to be careful not to give away your rights. If you sign a contract without reading it carefully, you could lose valuable protections that you were promised.

For example, if you sell your land to someone who plans on building a home on it, you will not be able to stop them. And if you sell it to someone who wants to build a gas station, you will not be allowed to prevent them from doing so.

4. Get Legal Advice before Transferring Anything

You should always consult a lawyer before signing any contracts. They can help you understand everything that is written in the agreement and ensure that you are not giving away something you should not.