Quitclaim Deed

Quitclaim Deed is a deed that conveys whatever interest a seller has and a piece of property to a borrower, to a grantee this could mean that everything is perfectly clear or it could be there are issues with a chain of title.

This differs from a warranty deed. With a warranty deed your warranty or your guaranteeing that the chain of title is freeing clear of all, covered, and defects. It provide no guarantees and most other deeds will provide some sort of aren’t 

When you use this deed? 

When would you use a deed that doesn’t guarantee the buyer any warranties about that title? 

  • A self- transfer. By this let’s say you own a property and you want to transfer from a company, or trust you own to yourself, or vice versa. In this situation you simply type up the quick claim deed record it and transfer it to or from yourself.
  • For marriage or lack thereof, if you want to add your new spouse to the deed quitclaim deeds are fantastic for that.
  • If you get a divorce and your former spouse’s name it needs to come off that title use a quitclaim deed.
  • For an inter-family transfer. Many parents will consider adding their children to their title as they near the end of their life expectancy. They’ll simply transfer the title from themselves to themselves along with their children.
  • For estate planning purposes, on that same course is an easier way from members to simply give their property to somebody else.

Now, most of those examples you could of course also use a warrant indeed since they’re considered a friendly type transfers but a quitclaim deed is often utilized and especially, utilize its there aren’t any leins or encumbrances on a property.

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