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Relating to quitclaim deeds.
No fiscal implication to the State is anticipated.
SB 885 would nullify the question of the good faith of a subsequent purchaser or creditor of a quitclaim deed on a real property 4 years after the quitclaim deed is recorded. The bill would also remove the notice to a subsequent purchaser or creditor of any unrecorded conveyance of, transfer of, or encumbrance on the real property.
A quitclaim status on a deed can hamper real estate transactions in perpetuity. Allowing those to expire after a reasonable time would support property rights. For this reason, Texas Action supports SB 885.
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