Return to the Buying and Selling Homes Forum | Post a Follow-Up

Selling by quit claim? (Canada)

Posted by robotropolis (My Page) on
Fri, Nov 1, 13 at 11:10

This is just a curiosity question. We're looking to buy a cottage in Nova Scotia and one was just posted today with the caveat:

"Transfer is by Quite (sic) Claim. Being sold on an `As is/Where is` basis. All offers must be left open for 72 hours. All offers mush have a completed and signed `Shedule A` (sic). See documents for attached schedule."

I've seen this twice before on cottages. I'm not interested in this particular cottage but I was wondering what kind of circumstances would lead someone to post this kind of ad? Is it a bank foreclosure? A contested estate? What kind of buyer would go for it?

Follow-Up Postings:

RE: Selling by quit claim? (Canada)

Although this may be a case of a seller who thinks that a quit claim is just a fast & maybe cheap way to divest oneself of real property, if I were interested in this house, I'd ask an attorney before I took one more step.

Here, quit claims are statements that say, "I don't claim to have any interest in this property, but if I do, I cede it."

They're typically used when a couple divorces & one of them cedes his/her interest to the other, or when someone dies & the children cede their interests to their surviving parent, etc.

They are primarily devices for preventing or clearing clouds on title.

They're *not* used to convey a property.

RE: Selling by quit claim? (Canada)

Everything tells me to "flee" when I see a listing like this, which was posted on MLS using a realtor! The house is also wildly it just screams trouble any way you look at it. But it might be a good bargain for a bold buyer, I guess. Regardless it doesn't meet our needs but I was curious why anyone would ever post a house like this.

 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!

Return to the Buying and Selling Homes Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Please review our Rules of Play before posting.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.

Learn more about in-text links on this page here