This form is a Quitclaim Deed where the granter is an individual and the grantees are husband and wife holding title as joint tenants.

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A quitclaim deed as a legal instrument by which the owner of a piece of real property called the granter transfers any interest to a recipient called the grantee the owner granter terminates any right and claim to the property thereby allowing claim to transfer to the recipient grantee unlike most other property deeds a quitclaim deed contains no title covenant and thus offers the grantee no warranty as to the status of the property title the grantee is entitled only to whatever interest the granter actually possesses at the time the transfer occurs this means that the granter does not guarantee that he or she actually owns any interest in the property at the time of the transfer or if he or she does own an interest that the title is free and clear it is therefore possible for a grantee to receive no actual interest and a euro because a quitclaim deed offers no warranty a euro have no legal recourse to recover any losses further if the granter should acquire the property at a later date the grantee is not entitled to take possession because the grantee can only receive the interest the granter held at the time the transfer occurred in contrast other deeds often used for real estate sales contain warranties from the granter to the grantee that the title is clear and/or that the granter has not placed any encumbrance against the title because of this lack of warranty quitclaim deeds are most often used to transfer property between family members as gifts placing personal property into a business entity or another special or unique circumstances quitclaim deeds are rarely used to transfer property from seller to buyer in a traditional property sale in most cases the granter and grantee have an existing relationship or the granter and grantee are the same person another common use for a quitclaim deed is in divorce whereby one spouse terminates any interest in the jointly owned marital home thereby granting the receiving spouse full rights to the property for example when a husband acquires the marital home in a divorce settlement the wife could execute two quitclaim deeds eliminating her interest in the property and transferring full claim to the husband quickly and inexpensively the ease at which the quitclaim deed can be executed is partly to blame for the quick claim is no more associated with the deed in some jurisdictions quitclaim deeds may also be used in tax deeds sales where a property is sold in a public auction to recover the original homeowner a euro unregistered trademark s outstanding tax debt the auctioning body is usually the local government which claims no interest to the property whatsoever but is selling only to recover the unpaid taxes without extending any warranty for the property title the purchaser then may need to initiate a quiet title action to remove any clouds to the title most jurisdictions restrict or prohibit the use of a quitclaim deed as collateral for a bail bond see also bargain and sale deed estoppel by deed...
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