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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
Is a quit claim deed safe?
Because quitclaim deeds expose the grantee to certain risks, they are most often used between family members and where there is no exchange of money. Due to this, quitclaim deeds typically are not used in situations where the property involved has an outstanding mortgage.
Why would someone do a quit claim deed?
Quitclaim deed. A quitclaim deed is a legal instrument that is used to transfer interest in real property. ... This means that the granter does not guarantee that it actually owns any interest in the property at the time of the transfer, or if it does own an interest, that the title is free and clear.
Why would you use a quit claim deed?
Quitclaim deeds are most often used to transfer property between family members. Examples include when an owner gets married and wants to add a spouse's name to the title or deed, or when the owners divorce and one spouse's name is removed from the title or deed.
Is a quitclaim deed good?
A quitclaim deed can convey title as effectively as a warranty deed if the granter has a good title when the deed is delivered. ... A quitclaim deed is often used if the granter is not sure of the status of the title (whether it contains any defects) or if the granter wants no liability under the title covenants.
Is a quit claim deed the same as a deed?
What is a quitclaim deed? A quitclaim deed is a type of deed that transfers the actual legal rights to a property, if any exist, that the granter the person who is transferring a stake in a property to another person has without any representation, warranty or guarantee.
How long is a quit claim deed good for?
In most states, there is a period of two years following the deed's filing date during which the quitclaim deed can be contested. If either the granter or grantee wants to challenge the validity of the quitclaim deed, the challenge must be made during this time period.
Can a quit claim deed be challenged?
Statute of Limitations. In most states, there is a period of two years following the deed's filing date during which the quitclaim deed can be contested. If either the granter or grantee wants to challenge the validity of the quitclaim deed, the challenge must be made during this time period.
What is a deed without warranty?
A Deed Without Warranty is a document that transfers title without any warranties, express or implied, as to any subjects.
What does deed without warranty mean?
A Non-Warranty Deed is also sometimes called a “Quitclaim Deed.” ... In a Non-Warranty or Quitclaim Deed, the seller merely is giving the buyer whatever rights, if any, that the seller has in the property and the seller makes no warranties of any nature about the seller's rights in the property.
Does a warranty deed have to be recorded to be valid?
A deed does not need to be filed or recorded with a government agency to be valid. ... Also, there is no law that prevents a valid deed from being recorded at any time, even years after the official transfer takes place.
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