One of the biggest downsides to quitclaim deeds is that the legal process only conveys the property rights that the person conveying the deed actually owns. This means that any third-party claim to the property ends up being conveyed along with the transfer, something that can have unintended consequences for the deed’s recipient.
In this article, we’re going to focus on the relationship between a partition lawsuit and a quitclaim deed.
Quitclaim deeds and partition lawsuits are two different means to an end
Judges generally require property owners to sell their property only once every other effort to get them to resolve their differences such as liens, easements and other encumbrances have failed. Partition lawsuits often result from interested parties not compromising what to do with a property. The proceeds that may come from any forced sale generally end up being split among owners.
Quitclaim deeds are usually part of (reasonably) amicable transfers of real estate. For example, they may be used when one spouse trades their interest in the family home for a greater share of the couple’s liquid assets in a divorce.
Sometimes a partition lawsuit is necessary even after a quitclaim deed is executed to clear up any remaining issues associated with the transfer, like any remaining encumbrances.
In the end, the goal of both a partition lawsuit and a quitclaim deed is to allow ownership of a property and all applicable rights to be clarified and settled in some way.
How do you know what you need to do?
Real estate is a complicated area of the law, so make sure that you protect yourself when you’re trying to settle ownership issues. Experienced legal guidance can help. Please continue reading about the different deed options here on our website to see if this is the right one for you to pursue in your situation.