FAQs-Quit Claim Deed vs Warranty Deed
Friday March 26, 2021
What is a Quit Claim Deed? A deed that does not imply that the grantor holds title, but that surrenders and gives to the grantee any possible interest or rights that the grantor may have in the property. With a Quit Claim Deed, you will inherit any encumbrances or defects in the title to the property and it comes with no guarantees. Quit Claim Deeds are typically used in situations where the grantor is transferring ownership between family members.
What is a Warranty Deed? A deed in which the grantor provides certain guarantees, such as that the grantor held valid title, clear from any undisclosed encumbrances. Traditional sales are transferred with a Warranty Deed along with a Policy of Title Insurance, insuring the grantee with a guarantee the validity of the title to the property.