Comparison Between Quitclaim Deeds and Warranty Deeds

Whether you are buying or selling property, one aspect of the sale will involve the conveyance through a deed. If you are in need of deed forms specific to your state, mylegaledge.com can help. You will find hundreds of deeds to fit your specific situation. You can also order specialty deeds as well. To inquire about our deed selections, e-mail us at staff@mylegaledge.com. You can also post your comments here at MyLegalReview.com.

What is a Quitclaim Deed?

A quitclaim deed is defined as a document by which the grantor disclaims any interest the grantor may have in real property and the interest passes to the grantee. With a quitclaim deed, there are no warranties on title or guarantees that the grantor’s claim is valid. Quitclaim deeds are used to transfer real property titles between family members or to eliminate clouds on titles.

Just remember that you get the property “as is” with a quitclaim deed.

What is a Warranty Deed?

A warranty deed is a deed type where the grantor (the person selling the property) guarantees that he or she hold clear title to real property and has a right to sell the property to the grantee (the person buying the property).

Covenants of Title

A warranty deed gives the following warranties of title -

Covenant of Seisin & Covenant of Right to Convey: Seller promises that he or she has title and can pass valid title.

Covenant Against Encumbrances: Seller promises that there are no liens on the property other than those that have already been disclosed.

Covenant of Warranty and Covenant of Quiet Enjoyment: Seller promises to protect the buyer from anyone who comes along to claim title to the property.

Covenant of Further Assurances: If seller omitted something required to pass valid title, seller promises to do whatever is necessary to pass title to buyer.

Not all states will recognize the covenant of further assurances.

Before you purchase property, it would be a good idea to hire someone to do a title search for you. You can also purchase title insurance to cover many types of losses.

Which Type of Deed Do I Need?

Well, that will depend on you particular situation and what you are trying to accomplish in your real property conveyance. If you are in need of state specific deeds forms, mylegaledge.com is available to assist you. Visit the website or send an e-mail to staff@mylegaledge.com. You can also leave your comment or inquiry here at MyLegalReview.com.