Quitclam to cancel a Quitclaim
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Quitclam to cancel a Quitclaim
I have a mortgage on a home I live in, with no second mortgage.In 2006 I executed a Quitclaim Deed on this property to transfered my interest to a friend as a guarantee on a loan. Now the loan has been paid back, and we were going to do another Quitclaim Deed to have him give me back the rights.Is this the proper way to “cancel out” the first Quitclaim Deed?Second, if doing the second Quitclaim is the way to “undo” the first, is it possible for a Quitclaim to transfer all interest ACCEPT something like mineral rights?
Asked on June 3, 2009 under Real Estate Law, Texas
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
I think you might need to proceed carefully here. If your quitclaim deed to your friend was never recorded, there might be a better approach than a deed back. I think you really need to have the advice of an attorney in your state, who has had a chance to review all of the facts of your situation. One place to find a lawyer is our website, http://attorneypages.com
A quitclaim deed, by the very nature of it, gives up all rights and claims of right in a piece of property. Reserving any rights, including mineral rights, makes it something other than a quitclaim!
I would not have mineral rights provisions in a deed unless it was written by a lawyer with some experience in that sort of thing.
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