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Commonly Asked Questions about Quitclaim Deed Oklahoma

A quitclaim deed conveys whatever title the grantor holds and gives no warranties or convents, past or future.
Quitclaim deeds typically are not used in situations where the property involved has an outstanding mortgage. After all, it would be difficult for many grantors to pay off a mortgage without proceeds from the sale of the property. In some instances, however, quitclaim deeds are used when the grantor has a mortgage.
Quitclaim deeds lack certain protections and promises found in other types of deed to real property. Because of this, they should only be used under certain circumstances. These include transferring real estate between close family membersfor instance, from a parent to a child.
It can be used to release a nominal real estate interest as it can effectively transfer whatever interest the grantor has, regardless of its value. However, a quitclaim deed cannot be used to warrant that a title is valid since it does not guarantee the grantors ownership interest.
Oklahoma establishes recording fees for official documents, including quitclaim deeds: $18.00 for the first page. $2.00 for each additional page. For documents not conforming to requirements, $25.00 for the first page and $10.00 for each additional page.
A quitclaim bill of sale also presents some downsides. Because the bill of sale makes no guarantees at all, a buyer may find themselves owning property that is tied up with liens, or even property the seller didnt actually own at all.
The way a quitclaim works is that it makes no promises or guarantees of clear title to the grantee (buyer). It conveys only the interest owned by the grantor, which means that if he has no interest in the property, you are getting nothing.
A quitclaim deed is used to transfer real property from the grantor to the new recipient owner, called the grantee. The grantor will terminate any rights to claim the property using a quitclaim deed, thus allowing all rights to be transferred to the recipient/grantee. Definition of a Quit Claim Deed in Oklahoma City, OK - 12Law 12law.com OklahomaCity cityarticle 12law.com OklahomaCity cityarticle
In which of the following situations could a quitclaim deed NOT be used? c. The answer is to warrant that a title is valid. The quitclaim deed carries no covenants or warranties.