QUESTION
Can I sell my residence to a family member with just a Bill of Sale?
Asked on Aug 25th, 2015 on Residential Real Estate - Colorado
More details to this question:
I purchased property on my mother's behalf. When she sells her current residence she will pay me to pay off the mortgage and then I will quit claim the title to her. Does this need to be a full-blown real estate transaction, or will a Bill of Sale be enough? Thank you.
1 ANSWER
3 Awards
The quit claim deed is one way to transfer ownership in a property. If your buyer will accept a quit claim deed then that will be sufficient. I would never advise my clients to accept a quit claim deed when purchasing real estate in a market based transaction.
Answered on Aug 25th, 2015 at 12:31 PM
Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.