Sell A Quit Claim Deed
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			What is a Quit Claim Deed?
	A Quit Claim Deed is a legal document that conveys all of the property owners rights and interests to another person without any guarantees.  It conveys all the legal and equitable rights the owner has in the property that exsits at the time of conveyance.  if the property owner has no legal rights then nothing is conveyed to the purchaser.
				Why Sell a Quit Claim Deed?
		A Quit Claim Deed is usally sold when a property owner seeks financial relief from a property.  Property owner sells a quit claim deeds for variety of reasons.  Some owners are in trouble with tax delinquency, tax forclosures, or mortgage foreclosures and every other kind of "must sell" situation.  Some owners find themselves no longer interested in a property they bought, maintenance fess, and taxes have become unbearable.  For some the property has depreciated in it's value, and find it hard to sell the property by conventional means.  Some property owners find themselves acquiring property they do not want through inheritance.  As you can see there are a variety of reasons why people sell a quit claim deed. If you are interested in selling us a Quit Claim Deed click here
			Benefits of Selling a Quit Claim Deed
				The obvious reason is financial relief.  But did you know you may be able to "create" a capital loss by selling your quit claim deed for a token payment?  According to the IRS certain capital losses are tax deducible.  Imagine being able to sell your property quickly and acheving financial relief and having a tax deduction all wrapped up into one?  Sound to good to be true?  Maybe not... Read on for more information about Capital Loss WHAT IS A CAPITAL LOSS Capital Loss is when you sell property to another person for less than your adjusted basis.  You adjusted basis usually is the amount of money you have in the property. How can a Capital Loss Benefit Me You may have it in your power to "Create" a capital loss by intentionally selling your property at a loss.  Now not all capital losses are tax deductible, for example you cannot claim a loss if you sell your property to a "Related Party"(i.e. family members, business partners ect.) You can read IRS publication 550 chapter 4 for more information about Related Party Transaction. How is a Capital Loss is Created? A Capital Loss is created when you sell an asset / property for less than what you bought it for.  As an example lets say some years ago you purchased a lot in a sub divsion for $5000.00.  Only today that same property no longer holds the same fair market value, it has decreased in value, the sub divsion did not develop as once predicted and you find it difficult to sell your property for what you bought it for.  Lets say you sell your property by way of quit claim deed for $1000.00 to someone other than a "related party" (see IRS publication chpt.4) you now have a loss of $4000.00.  You now have "created" a capital loss.  Under the present rules you can carry the deduction forward if you do not need to take all of your allowable deduction for this tax year. *Note*  The fair market value does not apply here your loss is the difference between your sales price and your adjusted basis property.  Your adjusted basis is usually your cost in the property. Dont lose you property to back taxes!!  Thousands of properties are sold daily at public auctions throughout the US.  Property owners are losing there investments and ruining there credit.  Do not let this happen to you!  Let US help you today. Consult your tax accountant or attorney Rules and regulations change often, and it take a professional to know whether the rules apply to you.  Nothing in this website shall be construed as legal advice.  Everyones situation is different.  We recommend that you consult a professional for legal advice Click here to Sell A Quit Claim Deed                     Home      About Us      Available Properties     Finance Options                             Sell A Quit Claim Deed      Auctions     E-Mail Us