The Right to Refuse or Accept a Quitclaim
A quitclaim deed (sometimes erroneously referred to as "quick claim deed") involves the transfer of ownership from one party (the grantor) to another party (the grantee), of a piece of real estate property. The grantor must sign a quitclaim deed to convey the property to the grantee. Typically, the deed must be notarized and recorded with the local county recorder's office, to be valid. As a grantee, you have the right to refuse or accept a quitclaim.
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Quitclaim Deed
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A quitclaim deed transfers whatever ownership interest the grantor currently has in the property being conveyed. What a quitclaim does not do, is guarantee there are no other ownership interests in or any existing liens (legal claims) on the property. If the person transferring her interest, shares ownership of the property with two other people, the grantor holds a one-third or 33 percent ownership interest. For you to receive clear title to the property, all owners are required to sign the quitclaim deed. One grantor can only transfer her 33 percent interest in the property.
Quitclaim Uses
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Quitclaim deeds are commonly used in a divorce for transferring ownership of the property from one spouse to the other, or they can be used to add a spouse to the property title after marriage. A quitclaim deed can be used in estate planning, such as writing a will or creating a living trust, to designate the person who will eventually inherit the property. If you are not willing to take over a property and pay for its upkeep, insurance, property taxes and possibly a mortgage, you have the right to refuse a quitclaim. The same goes for a divorce situation, in that you should be sure you are willing to take complete ownership of the marital home before you accept a quitclaim.
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Reversing a Quitclaim
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If you accept a quitclaim deed but decide later on that you no longer wish to have an interest in the property, reversing a quitclaim deed could be somewhat difficult. By signing the quitclaim, the original grantor relinquishes all ownership rights to the property, and the title transfer is final. The only way to reverse it is for you to sign another quitclaim deed, conveying the property back to the original owner and hope he does not exercise his right to refuse the quitclaim. If the original grantor is deceased, your only option would be to find a relative or friend willing to accept a quitclaim from you and take ownership of the property.
Buying a House
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Although a quitclaim deed can be used in the title transfer process for a home you are buying, as a buyer it is probably best to refuse a quitclaim in this situation. Quitclaims do not offer any warranties to you as a buyer, they mainly benefit the seller. You would be better off having the title transferred to you through a warranty deed, which guarantees the property is free of liens and has a clear title (no unknown ownership interests).
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