![]() Also, you can accept it from the ones you know very well and consider trustworthy. So, only accept a quit claim deed from the grantor when there is low risk involved or no risk at all. When a seller demands for a quit claim deed, you need to think about it first because it makes no warranty about the quality of the grantor’s title. Quit Claim Deed is Only Accepted Because of Trust and Know-how It especially highlights that “The Grantor makes no warranty, express or implied, as to title in the property herein described.” When a grantor does not have any interest in the property, the grantee gets no right of warranty against the grantor, having the least amount of protection. This means that there are no guarantees or promises regarding the title made to the buyer. In this type of warranty deed, the grantor only releases, remises and quit claims their property to the grantee. Quit Claim Deed has Least Amount of Protection Unlike Any DeedĪ quit claim deed is also known as a non warranty deed because it conveys the interest of the grantor in the property. The following facts about the quit claim deed will help you understand what a quit claim deed is. Perhaps, this can be because of both trust in the party or you do not prioritize or there is low or no risk involved in it. Offering a very limited amount of protection, a quit claim deed is often used by those who do not require any promises. All in all, it is put when the seller does not want to promise anything to the buyer. Quit claim deeds are used when the sellers do not want to guarantee for the liabilities and titles. Sellers demanding for quit claim deeds do not want to convey any covenants to the interested party. It covers no guarantees, warranties or promises to the grantee. The quit claim (or quitclaim) deed is a different form of a warranty deed. If you want to know what a quit claim deed is, then you must first understand that it is unlike the previous two warranty deed types. Those who do not wish to occupy the real estate property for a longer time period yet want to have some protection may opt for a special warranty deed. Using the same contents and phrases as a general warranty deed, a special warranty deed is used mostly by temporary real estate holders such as trusts, fiduciaries and corporations. This is because a special warranty deed covers lesser covenants. This is another form of a warranty deed which has comparatively lesser protection for the grantee. This type of deed is used mostly by people who wish to permanently own a property having all six covenants (promises) by the seller. Though this type of deed varies in every state because of the unique laws, it highlights the same elements in the deed like all others. Covering warranties and guarantees that any seller wishes to convey with the title, it is chosen by people who wish for extreme protection. General Warranty DeedĪ general warranty deed determines that greatest protection to the grantee. All these deeds differ from one and another on the basis of protection and security of the buyer. Deeds are classified on the basis of types, such as general warranty deed, special warranty deed and a quit claim deed.
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