How to Sell a Deed Back
Quit claim deeds are used to transfer a property title from one party to another. Quit claim deeds are commonly used in divorce settlements and estate planning where the grantor, the person giving the property over, places the property in a trust. Removing a person's name from the deed doesn't remove them from the mortgage responsibilities. There are situations where the person who took over the deed wants to sell the deed back. If an ex-wife lives in the house, for example, but can't make the mortgage payments, the ex-husband may want to reclaim the deed, if she will sell it.
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Instructions
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Talk to the grantor to see if he would like to reclaim the deed on the house. If he is on the mortgage, this is often the easiest method of getting out of a home you can no longer afford.
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Negotiate a price, called consideration, for the property. The price might be nominal, enough for you to pay for moving and relocating. It could the value paid upon the initial quitclaim or any other negotiated fair market price under the circumstances.
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Obtain a quitclaim form from the county records office. Every state has slightly different requirements. Expect to need the name of the grantor and the grantee, the property description and address, location and consideration value.
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Sign the completed form in front of a notary public. Get the consideration from the other party at the time of signing.
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