Absent an agreement amongst all of the owners, a “majority vote” cannot compel the sale of a person’s ownership interest in a property against his or her will.
But there is another option available to move the process forward for all parties.
Answers to Frequently Asked Quitclaim, Warranty and Survivorship Deed Questions
Absent an agreement amongst all of the owners, a “majority vote” cannot compel the sale of a person’s ownership interest in a property against his or her will.
But there is another option available to move the process forward for all parties.
Based solely on the information provided, it is difficult to determine how title to the real estate was owned, or how it can be transferred going forward.
Specifically, the “or” language may be at issue.
Properly signed and notarized Quitclaim Deeds are generally unaffected by death.
When a foreclosure occurs because a loan is in default, the foreclosure lawsuit and ultimate sheriff’s sale “strips” the mortgage(s) from the property, either by paying it off in full or part from the sale proceeds (or in the case of second and third mortgages, by paying a percentage or perhaps none at all).
This is done so that any new purchaser of the property can take ownership free and clear without any encumbrances.
Simply re-draft the Deed to include the names of the three children of the deceased son as Grantees, omitting the name of your child’s ex-spouse.
If the language of a Quitclaim Deed indicates that a right-of-way is being transferred to a Grantee — and the deed does not reserve for the Grantor any right to use the land or cause the Grantor to retain some ownership interest in the right-of-way — then the right-of-way becomes the property of the Grantee … Read more
A completed Quitclaim Deed signed by all of the listed owners of the current deed could certainly be used to transfer the property ownership as desired.
For such a document see, Standard Legal’s Quitclaim Deeds package.
But transferring the property ownership from both spouses to one would not necessarily change the nature of the ownership within the Partnership.
Completing a property sale using a Quitclaim Deed when one of the listed owners of that property is a minor who is not living in the parent’s home is a complicated issue with several variables.
The first issue is the minor’s ability to enter into a binding contract (i.e. the transfer of the property to a third party), as such contracts are voidable by the minor due to his age. But there are additional considerations and potential solutions.
The vast majority of states have no firm set time period or “grace period” for requiring the tender of a Deed for real property upon the completion of payments on a private mortage.
So long as the contract is properly written, a provision providing that the buyer will sign a Deed to avoid having the seller go through a foreclosure process to reclaim title to the property would be enforceable.