Posted by David S on March 26, 2001 at 19:02:09:
it’s called a “quit claim deed”. Not used for transfer of title to a mobile home (personal property) which is transferred by title as is an automobile. Some state laws may vary.
A quit claim deed simply stated; you give up your interest in real property, if any, to another. As an exmple, I quit claim all of my interest in Trump Towers to WindyCityRuss.
Since I have no interest, neither do you… although I used a “quit claim deed” as a legal instrument and can do so (since I don’t own any interest) in a legally recorded document.
Now, an entity could own the home and have one of it’s officers live in the unit (tenant/buyer for example) although that party has zero interest in the entity. In short, you can be the president or officer of a corporation and not own one single share of stock.
Food for thought.