LeapZipBlog: Carl Glendon's blog: Difference Between Quitclaim And Warrantee Deeds

Difference Between Quitclaim And Warrantee Deeds

July 15, 2019 by Carl Glendon  

Quitclaim and warrantee deeds are two very essential instruments that grantors can use to transfer his / her property to a chosen grantee. These documents are similar in many respects mostly in terms of...

  • Defining the boundaries of the property,
  • Clear and comprehensive statement that reflects transfer of title / interest of the property to the grantee and
  • Formalities like warrantee deed and quitclaim deed forms, signatures to validate the documents etc.
  • Tax and other debt advantage etc.

Even though, quitclaim and warrantee deeds have their share of similarities, they are vastly different from each other, and these differences contribute towards determining their relevance with different grantors and grantees. Here is a small list of core differences that should be thoroughly considered by the latter before considering conveyance of titles...

The matter of Ease


Given the nature of quitclaims, they are always easier to create and execute in comparison with warrantee deeds. A simple printable quitclaim deed form is everything that the grantor will need to transfer the title. Warrantee deeds on the other hand are more detailed considering that they offer extended security to the grantee. Please visit this site to get a quitclaim deed in Colorado.

The matter of Guarantee


Quitclaim deeds and warrantee deeds differ vastly from each other in terms of guarantees offered in each. Quitclaims basically offer zero guarantees as far as ownership, property details and associated information is concerned thereby making it score minimally as far as security is concerned.

Warrantee deeds on the other hand guarantees that...

  • The property actually belongs to the owner
  • The property is free of liens
  • The mentioned boundaries of the property are accurate and
  • The property has no other claims to it

It is therefore, very safe and offers maximum protection to the grantees.

 

The matter of relevance


Quit claim is mostly applicable for transfer of property within the family or very close entities that know each other very well. Transfer of property is a buyer – seller relationship however, is best done through warrantee deeds.

 

The matter of safety


Given the fact that quitclaims by nature, do not offer any kind of guarantees; they cannot be produced in the court in case of serious violations. Warrantee deeds on the other hand can be an effective tool in the hand of the grantees if grantors violate specified provisions.

 

For more information about getting a quitclaim deed in South Dakota, please visit this website.

 

Read more articles about quitclaim deed form here at - https://topsitenet.com/article/205456-how-does-a-quit-claim-deed-differ-from-a-general-warrantee-deed/