Can a licensed realtor obtain a quit laim deed from his/her client?
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Can a licensed realtor obtain a quit laim deed from his/her client?
Client walked away from the property. Has no intentions on moving back. Simply left the property in deplorable condition. Can the realtor ask for a quitclaim deed from the owner, do the necessary repairs on the property, and find a tenant to live in the property? Or simply sell it to an investor for a profit?
Asked on September 2, 2010 under Real Estate Law, Texas
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
I see problems here on many levels for the realtor. It is true that a party can deed his or her property to anyone that they like for whatever reasons. Are we calling this a "gift" because contracts for the sale of real property have to be in writing under the Statute of Frauds and there has to be "consideration" to contract. That usually means property for cash. What would stop the owner from coming back and asking for the sale money? And ethically I have a problem with the transaction. Don't you have an ethical obligation to a client to sell it on their behalf on top of the usual written agreement? From the outside it appears that you sat in prey on an unsuspecting victim. Think about your obligations here to the client. If there was an investor as a viable purchaser available before he walked and you didn't tell him you could get in to trouble. Think about it from all ends.
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