Legal Question in Real Estate Law in Colorado

Re: Quit Claim Deed

Morning,

Sorry to hear about your problem. Honestly, you need to talk a real estate attorney and quickly. Unless this party decides to quit claim the property back to you so you can structure an agreement you should have had in the first place, you will need to go to court to get the deed transferred back based on lack of consideration, mistake or misrepresentation.

Finally, I can only assume the bank was not informed of your quit claim because as a general rule they will not allow you to transfer title of the property as that is the security of the loan. Doing so may allow them to call the loan entirely as being a violation of the deed of trust. Talk to an attorney as soon as possible.