Quit Claim and Warranty Deeds
A Warranty Deed is a method of transferring title that guarantees (or warrants) certain things about the property being transferred. For example, Warranty Deeds typically promise that the title that is being transferred is clear, which means that no one else has an outstanding claim to the title and that the grantor has the right to transfer the property. If it later turns out that the promises in the Warranty Deed were not correct, the party receiving the Deed can sue the Grantor.
A Quit Claim Deed, on the other hand, contains no such promises and guarantees. A Quit Claim Deed can be interpreted as whatever I have, I transfer to you, but I don't promise that I have anything of value. Quit Claim Deeds transfer the title held by the grantor without any promises or representations as to what that title is. There could be easements, restrictions, or other problems with the title. However, when accepting a Quit Claim Deed, the Grantee must remember that they do not have any right to sue the Grantor if title problems arise later.
If you are considering transferring property, you should get an Attorney to handle the legal side and strongly consider title insurance to protect yourself in the event of title problems.
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