Quit Claim Deed?

[Bearlodge]

What is the name of your state?South Carolina

I will try to make a long story short. Back in the 60's a man (will call him TO) purchased 166 acres. On the property he built a lake (5.8 acres) and laid out 18 lots ( appx 9 acres) to sell. He sold 10 to people who built homes on the lots. TO formed a corporation and sold the lake and dam to the corporation ( we have a deed to the lake and dam an original and corrected one because the word land was in the original instead of lake). The home owners bought stock in the corporation which gave them lake rights and made them owners of the lake. TO passed away in 1998, in his will it stated that he left all 166 acres to his wife, no one noticed that the acreage sold was not taken out. His wife passed away (MO) in 2015, her will stated that she left her only daughter all 166 acres TO originally purchased. Both wills were probated. After MO passed away questions arose as to the structure of the corporation and what property it owned. We hired legal counsel and was advised the corporation should get a quit claim deed from the daughter for the lake and the dam. Corporate members are divided on the quit claim deed, is it the best instrument?

 

[FlyingRon]

We wouldn't know. We don't have access to the actual evidence. The lawyer would be best inclined to give advice.
Generally, when you receive property via a deed, you'd want some sort of warranty as to the integrity of things. A special warranty deed would typically say that the grantor didn't personally do anything to encumber the property but won't vouch for things in the past. However, an heir is under no obligation and certainly would be disinclined (and well-advised by an attorney) to issue any warranties. In this case, a quit claim is usually done which just says "I relinquish any interest I might have in it but I'm not saying anything else about the property."

 

[justalayman]

A quit claim deed it one surely one item that you should obtain. It doesn’t purport any true claim of ownership or even any rights but merely a relinquishing of any rights the grantor has to the grantee.


Of course you could go through an expensive suit to quiet title which should result in stating you hold a clear title to the area in question.

 

[Zigner]

I'd like to point out that one cannot give away something in a will that one does not own. This often happens when one does not update their own will as assets are disposed of.

 

[justalayman]

I'd like to point out that one cannot give away something in a will that one does not own. This often happens when one does not update their own will as assets are disposed of.

That’s true and that is why the op is here but nine the less it can cause title issues. The simplest way to clear it up is to have their heirs formally relinquish any rights to the property