Hello Mike Mumford ~
Just a reminder about the cisclaimer at the bottom of this and every
Google Answers page. This answer shouldn't be mistaken for legal
advice.
To answer your questions, though.
1. Do QUITCLAIM DEEDS terminate joint tenancy?
The answer can be 'yes'.
If the property is owned in joint tenancy and you or any of the joint
tenants execute a Quitclaim Deed, you are effectively relinquishing
any right(s) in the property.
If there are only two joint tenants and a Quitclaim Deed is executed,
then the remaining joint tenant then owns the property outright.
Obviously, if there are more than two joint tenants and only one quits
his claim to the property, the remaining joint tenants then own the
property.
Here's a good definition of a Quitclaim Deed from Law.com:
"... a real property deed which transfers (conveys)
only that interest in the property in which the
grantor has title."
- http://dictionary.law.com/definition2.asp?selected=1710&bold=%7C%7C%7C%7C
You might wish to read the rest of the definition and see how it may
relate to your own particular circumstances.
A Quitclaim Deed does not allow for you to convey the property to
anyone else, either. It merely ends (quits) whatever claim or interest
you may have in the property.
Therefore, with no legal claim to the property, you would not be able
to deed the property back to yourself. Obviously, you cannot convey
property to which you have no legal interest.
Although you didn't ask, if you wish to become tenants in common
instead of joint tenants with the right of survivorship, it would
require the joint tenants to all deed the property those who would
then own it as tenants in common.
Further resources -
====================
Definitions of joint tenancy:
- ://www.google.com/search?hl=en&lr=&ie=UTF-8&q=define%3A+joint+tenancy&btnG=Search
Definitions of tenants in common:
- ://www.google.com/search?hl=en&lr=&ie=UTF-8&q=define%3A+tenants+in+common&btnG=Search
Search terms -
* joint tenants
* tenants in common
* quit claim deeds
Regards,
Serenata
Google Answers Researcher |