Real Estate Grant Deeds

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Commonly Asked Questions about Real Estate Grant Deeds

What is the difference between a grant deed and a quitclaim deed?

Simply put, Grant Deeds ensure that the true owner of a certain property or title has the legal right to convey their interest in the property, while a Quitclaim Deed does not have any such warranties or assurances. Quitclaim Deeds are commonly used in real property transactions involving family members or trusts.

What is a quitclaim deed most commonly used to?

Quitclaim deeds, therefore, are commonly used to transfer property within a family, such as from a parent to an adult child, between siblings, or when a property owner gets married and wants to add their spouse to the title. Married couples who own a home together and later divorce also use quitclaim deeds.

What are the disadvantages of a grant deed?

☞ No Safeguards Against Undisclosed Defects: A grant deed typically does not include any protection for the grantee against defects in the property that the grantor did not disclose. The grantee may be responsible for any liens or encumbrances on the property that the grantor did not disclose.

Is grant deed the same as title?

Grant Deeds are used to transfer title of real property. This is done at the time of purchase and can be later recorded to add or remove individuals names after purchase. This is known as the title document.

What is the main purpose of a grant deed, and quitclaim?

Both types of legal documents serve the same function of transferring ownership of real property. The fundamental difference between quitclaim deeds and grant deeds is the level of protection and warranty provided to the grantee.

Whats the difference between a warranty deed and a grant deed?

The main difference between a grant deed vs. warranty deed is the level of protection offered. A warranty deed offers a higher level of protection than a grant deed. With a grant deed, the grantor is guaranteeing that they havent sold the property to anyone else, and that it is clear of any liens or restrictions.

What is the main purpose of a grant deed?

A grant deed is used to transfer ownership of real property, often in conjunction with tax or foreclosure sales. It offers more protection to the buyer than a quitclaim deed but less than a general warranty deed.