Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #55596 Reply
    admin
    Keymaster

    What is the difference between a Quite claim deed and a warranty deed?

     

    Hi Jeremy. A Quit Claim Deed conveys the interest in the property without warranties about the condition of title. A Warranty Deed conveys interest in the property with an assurance that the title is clear. While there are multiple credible sources you can review, here here is one good example:
    https://www.alta.org/media/pdf/CH01.pdf. Please note that we are an online title research company used by our clients for title research and document retrieval. We are not attorneys, we do not provide legal advice and we do not close transactions or issue title policies. We refer many of our clients to First American Title Company to purchase escrow policies. Please let us know if you need more information.

    Here is some more helpful information on the topic:

    A quitclaim deed and a warranty deed differ primarily in the guarantees they provide to the buyer:

    A quitclaim deed simply transfers whatever interest the seller might have in a property, without any guarantees about the title’s quality or whether the seller actually owns the property. It’s like saying “I transfer to you whatever rights I may or may not have.” The seller makes no promises about:

    • Whether they actually own the property
    • Whether there are any liens or encumbrances
    • Whether anyone else might have a claim to the property

    A warranty deed, on the other hand, provides the highest level of buyer protection. The seller explicitly guarantees:

    • They have a valid title to the property
    • They have the right to sell the property
    • The property is free from liens or encumbrances (except those disclosed)
    • They will defend the title against any future claims

    Because of these differences, warranty deeds are most common in standard property sales, while quitclaim deeds are typically used in more specific situations, such as:

    • Transfers between family members
    • Adding or removing a spouse from a title
    • Clearing up title defects
    • Transferring property into a trust

     

    #55374 Reply
    Jeremy D.
    Guest

    How is a quitclaim deed different from a warranty deed?

Viewing 2 posts - 1 through 2 (of 2 total)
Reply To: Deeds
Your information:





<a href="" title="" rel="" target=""> <blockquote cite=""> <code> <pre class=""> <em> <strong> <del datetime="" cite=""> <ins datetime="" cite=""> <ul> <ol start=""> <li> <img src="" border="" alt="" height="" width="">