Is there a way I can do a Quick Deed Transfer without any delays?

Question: I’m thinking about declaring bankruptcy soon but I want to protect my house. Can I do a quick deed transfer to my daughter so that the house is in her name? How do I do a quick deed transfer?

Response: A deed transfer simply transfers the interest in your land from you to your daughter. Technically, it is possible to do a deed transfer relatively quickly. Many people believe a quit claim deed is the best method for quick deed transfer. In a quit claim deed, you simply fill out a document that transfers all of your rights to the person who is assuming control of the land. It may be faster then other types of deeds such as a warranty deed or a grant deed, which may have more complicated requirements such warranty deeds and grant deeds may convey full interest and a guarantee that the new owner will have a 100% interest in the property. However, many states have laws about shelter assets in bankruptcy, and this may be against federal law as well. Before doing a quick deed transfer to try to protect your house, you should speak with an experienced attorney who can explain deed transfers, bankruptcy, and other legal options to you.

Answered by Christy Rakoczy

Additional Resource:

• Quit Claim Deed Information
• Transfering Property Ownership
  

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