Posted by Rob FL on June 07, 2000 at 12:51:59:
Quiet title is actually a little more involved than that. It is a lawsuit filed against someone who has a cloud on the title. Many times it gets messy because these parties cannot be found easily to be served a summons.
Quit-claim vs. Warranty Deed - Posted by Ron Chatfield
Posted by Ron Chatfield on June 06, 2000 at 14:45:59:
In a couple weeks there will be a state sale of tax delinquent properties in Michigan. The listing pamphlet states that a Quit-Claim Deed will be provided at the sale and that the buyer must then obtain the Warranty Deed if they want to build or occupy the property. I have heard that this may cost $thousands. Can anyone give me a quick and dirty explanation of these two types of deeds and how a Warranty Deed can be obtained inexpensively? Thanks, RonChat
Re: Quit-claim vs. Warranty Deed - Posted by MDonovan
Posted by MDonovan on June 06, 2000 at 15:31:55:
A warranty deed means the seller guarantees that the title is free and clear. A quitclaim deed guarantees nothing. It conveys all of the grantors interest in the property, whatever that may be. It does not even make a claim that the grantor has any intterest in the property at all. I could give you a quitclaim deed to the brooklyn bridge for example.
To get absolute fee simple ownership, allowing you to hold the property forever, or to convey it to anyone else via warranty deed, you need to file a quiet title action. This is basically a public notice that you are claiming title and if anyone objects, they must do so within the time limits as provided by your state statutes. Call a real estate attorney and ask how much they charge for a quiet title action.