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Ask Barrister Your Own Question
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 37378
Experience:  16 years real estate, Realtor. Landlord 26 years
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If I returned a house to it's owner after a ten year deed of

Customer Question

If I returned a house to it's owner after a ten year deed of trust, (signed a quit claim) do I owe him any money paid to me on an insurance claim?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Barrister replied 1 year ago.
Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question..Was there anything in any agreement about the insurance proceeds?.Were they used to make repairs to the house?.Did the owner have an opportunity to inspect the house prior to accepting the quitclaim deed?..thanksBarrister
Customer: replied 1 year ago.
only that the house had to be insured while under the deed of trust. which it was.
I made no repairs to the house, because I'd "returned" the house to him via the quit claim.
and yes, he'd inspected the house before the quit claim.
Expert:  Barrister replied 1 year ago.
Ok, then if he accepted the house in its current condition when he accepted the quitclaim, then you are under no legal obligation to share any insurance proceeds. He could have required any repairs to be made that were the basis of the claim if he had wanted that to be a part of the return of the property, but apparently he didn't do so...thanksBarrister