All Forum Posts by: Josh Crowfoot

Steve, you are correct.  A quitclaim deed provides the least amount of protection for the acquirer of real property.  It conveys any interest the grantor (i.e., seller) has to the grantee (i.e., buyer), but it provides no warranties of title.  A special warranty deed or limited warranty deed is better because it warrants title against the grantor and any of his heirs, successors, or assigns.  A general warranty deed is best (although rarely given), and it is a warranty of title up the entire chain of title.  Quitclaim deeds do not negate title insurance.  I am not sure where you heard that from.  In fact, quitclaim deeds are routinely used in numerous jurisdictions across the country every day without any sort of effect on title insurance.  I am not sure why a quitclaim deed, in of itself, would be a red flag for you.  It's simply a way of conveying title without providing any warranties.  Some parties feel inclined to convey property that way; others do not.  As for my professional designation, I am a commercial real estate attorney licensed in Georgia and South Carolina as well as a licensed broker in South Carolina.  I hope this information helps.

Either should work.  Although case law and statutes addressing adverse possession can vary from state to state, the most common requirements for someone to adversely possess property is that possession be (1) continuous (2) hostile (3) open (4) actual and (5) exclusive. If you were to do nothing and wait, say 10 years, a court could rule that you permitted your neighbor to claim the land over which he has laid his fence. 

From a practical standpoint, if you show your neighbor a survey showing his fence encroaching on your land, he should be okay signing a document acknowledging your ownership.  If he is not okay doing that, you can file an injunction forcing him to remove the fence.

My law firm has a private equity client seeking agricultural property in the U.S.  The buyer will purchase raw ground with no improvements or turnkey operations that are fully integrated with all improvements, equipment, labor, etc.  These include land and farms that are currently in operation, farmers and land owners nearing retirement, and operations that are bankrupt.  Our buyer will purchase single properties as well as large portfolios.  Specifically, the buyer is interested in acquiring the following three property types: (1) permanent crop; (2) small vegetable; (3) row crop/grain farms.  I would like to connect with either a direct seller or a commercial broker (my client can pay your commission on a successful sale).  Send me a message via BP for more details re: the buyer's requirements for each property type.  Thank you for your attention.

-Josh C.

I would echo the above comments regarding reviewing the purchase and sale agreement and paying particular attention to the sections regarding default, remedies, and the deposit. Oftentimes, PSAs are drafted so that if the buyer backs out (i.e., breaches the contract), he will lose his deposit. However, the contract must be read because it might be entirely possible that the PSA allows the seller to sue for specific performance in the event buyer defaults under the terms of the agreement. If that's the case, the seller actually has the power to enforce the contract. Best of luck.

I would agree with John above. I would just add that if there is no mortgagee or lender in the picture, you should be able to simply deed the property from yourself to your entity via quitclaim deed without fear of triggering any type of due on sale provision that would otherwise be contained in a mortgage. There are different types of deeds that one can use (general warranty deed, special warranty deed, etc.) for conveying property, but for purposes of transferring the property from yourself to an entity such as a limited liability company (LLC), a quitclaim deed should suffice. While drafting a quit claim deed is not too complicated, it would wise to consult an attorney to make sure it's properly drafted and to ensure your jurisdiction's recording requirements are met.