Osceola ReVIEW - June 2008 - (Page 14)

Legal Ease By Randy Hillman NO MAGIC IN QUIT CLAIM DEEDS For reasons that are not clear to me many people have come to the conclusion that the Quit Claim Deed or as it is incorrectly called sometimes, Quick Claim Deed, has some kind of magical powers in transferring property. In reality, it is the worse way to receive a transfer of property. Most property is transferred by Warranty Deed. The FAR/BAR Contract provides that in most circumstances transfer will be by warranty deed. A deed is only signed by the owners/sellers of property. It is not signed by the buyer. When a seller executes a warranty deed, he is warranting that he is the owner of the property, and he has the right to transfer the property. A seller who executes a quit claim deed is not representing he owns the property. He is only represents that, if it owns it, he is transferring it to the named buyer or grantee. If a seller transfers property by warranty deed, and does not own the property, he could be sued for damages because he is warranting he owns the property. A Seller who signs a quit claim deed cannot be sued because he is not even representing that he owns the property. Of course, most buyers do not have to rely on the representations of sellers as to ownership of property. They obtain title insurance which protects them should the seller not have the right to transfer the property. Over the last several years, many people have decided transferring property is something they can do themselves. They obtain forms off the internet or from office supply stores, complete the forms, and then have them recorded. Continued on Page 15. There will be professional poker dealers for each tournament date! Tournament dates are: June 7th, July 19th, Aug 9th at the Association with the grand finale being held during the RPAC Auction on Saturday, September 6, 2008, the day of the auction. The maximum number of people per tournament date that can play is 48 per tournament date. Anyone can play in the tournament and the entry fee is $60 per tournament date (or $150 for all 3). There will be 6 winners each night that are guaranteed a seat in the finals’ competition on September 6th. There will be beer, wine and finger foods. You must register online to attend this event at: www.osceolarealtors.org. Then click on Online Member Services then to 2008 Texas Hold “Em Event. Osceola ReVIEW Texas Hold ‘Em Tournament 14 June 2008 http://www.osceolarealtors.org

Table of Contents Feed for the Digital Edition of Osceola ReVIEW - June 2008

Osceola ReVIEW - June 2008 President's Perspective CEO Perspective Education Corner Knowledge Services News Legal Ease Sponsors June 2008 Monthly Planner

Osceola ReVIEW - June 2008

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.