Legal gurus...please give me your thoughts.

[BradM]

quit claim deed is as valid and legally binding as a warranty deed. only difference is the legal obligation post sale by the seller to warrant any and all title flaws.

And at which time you will be denied title insurance for lack of proper conveyance by special warranty deed.

[Broncojohnny]

Back when oil was high as shit one of my coworkers was approached by an oil company to sell his rights. He wasn't even sure he owned them and told them, they asked for a quitclaim. He sold the rights to them for $9,000 on a quitclaim deed. Turned out he didn't own them and a big lawsuit erupted with his HOA and developer. He wasn't involved so got $9K for nothing essentially.

[mstng86]

Back when oil was high as shit one of my coworkers was approached by an oil company to sell his rights. He wasn't even sure he owned them and told them, they asked for a quitclaim. He sold the rights to them for $9,000 on a quitclaim deed. Turned out he didn't own them and a big lawsuit erupted with his HOA and developer. He wasn't involved so got $9K for nothing essentially.

Sounds like a Seinfeld episode

[gearjammer351]

If y'all get married, her credit becomes your credit (or lack thereof).

[Sean88gt]

If y'all get married, her credit becomes your credit (or lack thereof).

You can maintain separate credit files, unless you start merging.

[gearjammer351]

You can maintain separate credit files, unless you start merging.

I suppose you could, to a point.

As an example, my mortgage guy told me that if I was married, I could NOT apply for a mortgage loan without the wife. This may only be for some things, but once you're married, it's really hard to keep things separate.

[Baron Von Crowder]

I suppose you could, to a point.

As an example, my mortgage guy told me that if I was married, I could NOT apply for a mortgage loan without the wife. This may only be for some things, but once you're married, it's really hard to keep things separate.

that wasnt true when I bought.

[Denny]

that wasnt true when I bought.

I do believe that has always been true with real estate in Texas.

[Baron Von Crowder]

I do believe that has always been true with real estate in Texas.

My wife is nowhere on the loan paperwork at all. She's on the deed, but not the loan.

[Denny]

My wife is nowhere on the loan paperwork at all. She's on the deed, but not the loan.

Interesting. I've never heard a lender say otherwise.

[gearjammer351]

that wasnt true when I bought.

Hmmm...

Maybe it's because it's a VA loan(?).

[Baron Von Crowder]

Hmmm...

Maybe it's because it's a VA loan(?).

We applied, and my credit and income were good, her's not so much. I was able to qualify for a hell of a lot more than I wanted to try to afford without her, so that's how it went down.

[broke again]

And at which time you will be denied title insurance for lack of proper conveyance by special warranty deed.

thats not how title insurance works.

[BradM]

thats not how title insurance works.

I'm talking about when. You go to sell after using the quit claim deed as conveyance. You won't be able to obtain an owner's policy after that.
What are you even talking about? That's not even a logical response to my statement. But please, educate me on how title insurance works.

[broke again]

I'm talking about when. You go to sell after using the quit claim deed as conveyance. You won't be able to obtain an owner's policy after that.
What are you even talking about? That's not even a logical response to my statement. But please, educate me on how title insurance works.

title insurance is purchaced to insure against loss due to defects in title. most often lenders policies but owner policies are issued too. the title insurance company (usually a contracted local attorney) does a title search and will have exceptions due to certain things that could be a cloud or issue with title. As simple as deeds signed in chain of title with a misspelled name, married name, etc or to major clouds such as easements or flaws in the legal description, probate problems, etc. these clouds are cured more often than not by the filing of quick claim deeds at the bequest of the title company. to say a quit claim deed it not worth the paper it is written on is not legally correct in any form or fashion.