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Real property in Mississippi that I want to gift to my two sons. No mortgage or lien on property, Can I do quitclaim deed?

Nashville, TN |

Can quitclaim deed be given to parties that currently have no ownership interest in the real property?

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Attorney answers 2

Best Answer
Posted

I would like to begin by clarifying that I am not licensed to practice in the state of Mississippi, and so I strongly encourage you to consult with an attorney in your state. That said, a quit claim deed offers no covenant of title; that is, it transfers whatever interest the grantor (the person giving the property) has in the property to the grantee (the person being given the property), but does not guarantee that the grantor has the right to transfer the property or that there exists a clear title. The grantee is entitled only to whatever interest the grantor actually possesses at the time the transfer occurs. If you own the property, and it is unencumbered (there are no mortgages or liens) then you should be able to easily transfer title to your sons. You may want to consider how you word the conveyance, as to whether you wish them to own the entirety of the property jointly or if they each should possess a half interest. An attorney in Mississippi will be able to explain the differences and help you produce a quit claim deed.

Asker

Posted

Thank you for your response. My question was poorly worded in that I seek just general information regarding the applicability of conveying property via a quit claim deed to a party who has no current ownership interest. I wasn't sure whether quit claim deeds only function as a way for a co-owner to terminate his/her entire ownership interest. You have answered my question, and I am very appreciative for your expertise.

Posted

I agree with Mr. Clark.
In a nutshell, yes you can deed the property to your two sons by way of quitclaim deed.
However, if you have any estate planning issues involved in the transfer, you should consult with an attorney.

If this answer was helpful, please mark it as helpful or as a best answer. This answer is for general education purposes only. It neither creates an attorney-client relationship nor provides legal guidance or advice. The answer is based on the limited information provided and the answer might be different had additional information been provided. You should consult an attorney.

Asker

Posted

Thank you, Mr. Millar. No, no estate issues. I am a single person, have a last will and testament in place, and have owned this unimproved real property since 1976. It is a lot on a fishing lake and my hope is that my two sons will build some sort of get-away fishing place for both them and their families to enjoy. My other real properties will go separately to each of them upon my death. Again, thank you.