Multiple updates in one Deed transaction

Hello.
In PA, I have a deed where persons A and C are both on a quitclaim deed, A is 49% owner, C is 51% owner.
A will transfer their ownership to person C so person C will be 100% owner,
and person C will transfer 50% ownership to person B, so that at the end,
person B and person C will be 50%/50% owners on the deed.

My question is: Can all this be done in one shot, meaning I don't have to pay for one deed where A will transfer ownership to C,
And then pay for another deed where C will transfer ownership to B.

Or does this have to be done in two deed transactions.

At the end, I want to go from A 49% / C 51% to B %50 / C 50%, and I want to take the shortest possible route, without having to pay for multiple deeds if I don't have to.

Thank you in advance.

Larry Saul said:

Hello.
In PA, I have a deed where persons A and C are both on a quitclaim deed, A is 49% owner, C is 51% owner.
A will transfer their ownership to person C so person C will be 100% owner,
and person C will transfer 50% ownership to person B, so that at the end,
person B and person C will be 50%/50% owners on the deed.

My question is: Can all this be done in one shot, meaning I don't have to pay for one deed where A will transfer ownership to C,
And then pay for another deed where C will transfer ownership to B.

Or does this have to be done in two deed transactions.

At the end, I want to go from A 49% / C 51% to B %50 / C 50%, and I want to take the shortest possible route, without having to pay for multiple deeds if I don't have to.

Thank you in advance.

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Never seek FREE legal advice in regard to important financial matters.

I suggest you seek the counsel, guidance, and insight about deeds ONLY from a licensed attorney.

Acting on FREE advice could end up costing you much more than obtaining said information from a trusted, licensed attorney.

Good luck.

Larry Saul said:

At the end, I want to go from A 49% / C 51% to B %50 / C 50%, and I want to take the shortest possible route, without having to pay for multiple deeds if I don't have to.

Click to expand...

Yes, it can be done on a single deed. You'll want a warranty deed, not a quitclaim deed.

Have a lawyer prepare it and get it right. Don't be penny wise and dollar foolish.

The $$ you pay a lawyer now will help avoid paying $$$$$$$$$$$ to a laywer later.

Pay me Now or Pay me Later; Pay Me you will! - YouTube

Thanks. I've done multiple quitclaim deeds without any problems between family. I always use a lawyer. Why would I want to do a warranty deed if I know everything is clean? I never said I was going to do this for $10 from a template I find online, I'm just asking if it's possible to do everything in one transaction.

Larry Saul said:

Can all this be done in one shot, meaning I don't have to pay for one deed where A will transfer ownership to C,
And then pay for another deed where C will transfer ownership to B.

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Which one of these folks are you? A, B or C?

Regardless, A and C could execute a deed that transfers their collective 100% interest to B and C (as tenants in common or joint tenants or whatever).

I'd suggest that the parties drop a few hundred dollars to have an attorney do this correctly rather than risk having to spend several tens of thousands in litigation to deal with something done wrong.

adjusterjack said:

You'll want a warranty deed, not a quitclaim deed.

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Maybe; maybe not. Based on the limited information we have (including the fact that we don't know which of the parties the OP is), there's no reason why A or C would want a warranty deed rather than a quitclaim deed. In fact, without any additional information, both A and C should prefer a QC deed. B, who will be new to the party, might prefer a warranty deed, but it's equally possible that it doesn't matter and/or that B isn't in any position to dictate the deed form.

Larry Saul said:

Why would I want to do a warranty deed if I know everything is clean?

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You know it but a potential buyer at some future date won't know it and his title company and lender may give him grief over it.

Doesn't cost any more to execute a warranty deed than a quitclaim deed.

Thanks. Reasons for the quitclaims are it's all family, there is no funny business going on there, and everyone knows everything. I understand the warranty deed aspect, but if both quitclaim and warranty cost the same, that means a warranty deed won't get a title search, so all the warranty deed does is lets people sue other if things are actually not what everyone thought they were about the title. Does that sum it pretty well?

C is me. A is family. B will be future family.

Larry Saul said:

it's all family, there is no funny business going on there, and everyone knows everything.

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Wish I had a buck for every time I've read that from people who are spending tens of thousands on lawyers because "we trusted." More often than not, it's family.

Larry Saul said:

I understand the warranty deed aspect, but if both quitclaim and warranty cost the same, that means a warranty deed won't get a title search, so all the warranty deed does is lets people sue other if things are actually not what everyone thought they were about the title. Does that sum it pretty well?

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No. It doesn't make any sense at all. Any sale or conveyance of property can have a title search as well as a title insurance policy. And anybody can sue anybody whether it's about a quitclaim deed or a warranty deed.

In fact, I recommend that B and C get an owner's title policy for their own future protection.