If property is Quit Claim as a Gift, Does this affect the Title Insurance?
Yes, it does.
This provision is from my owner's title policy:
CONTINUATION OF COVERAGE
This Policy protects you as long as you:
1. own your title, or
2. own a mortgage trom anyone who buys your land,
or
3. are liable for any title warranties you make
This Policy protects anyone who receives your title
because of vour death.
Based only on my policy I make the following conclusions.
If you are the recipient of the property then you are not covered by the title policy as of the date of the transfer of ownership unless you inherited it from someone who died.
If you are the giver of the property you would also have no coverage as of the date of the transfer unless item 2 or 3 occurred.
Read the title policy on the property and see if it says the same thing.
If you are the recipient of the property you are likely to need your own title policy.
