Posted by River City on July 15, 2002 at 10:20:22:
Scott, I don’t believe that you have a legally binding document since it is incomplete. And, you don’t want to be the one to fill in the blanks, because it is the seller that was supposed to complete the form, not you. I am surprised that the notary would even notarize it. The form should have been completed prior to it being notarized. Sounds to me like you may have a seller that wants to “lay claim” to the property at a later date claiming that you filled in the form not as agreed.
Take the form to either a title insurance agent or a local real estate attorney and have a new form drawn up for the seller’s signatures. The fee for handling the document (and recording it) should be very minimal. I certainly would not accept it in blank, because of the repercussions in the years to come.
As far as money changing hands, $1 is customary on the quit claim form.
Received a signed and notarized Quit Claim Deed on a house I bought “Subject To Existing Financing”. The problem is that the top part is not at all filled in. All the important stuff is there, the sellers “EX”'s signature, and the notary seal and signature that they witnessed it.
By reading the top part, I am not sure what to fill in where, but may be able to stumble through it. Also have some legal questions on it. Is there a place to go to see for our area, or county, what standard legal forms should be filled out like?
Does money have to change hands? There is a slot for $ amount. Please tell me money doesn’t have to change hands to make this legally binding!