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What is the disadvantage to a buyer receiving a quitclaim deed?

No guarantees to the new owner: Unlike a warranty deed, a quitclaim deed does not guarantee that a property is free from title defects such as tax liens or title claims from third parties. For this reason, it is a poor legal instrument to use when selling a piece of property for cash considerations.

Who signs a quit claim deed in Indiana?

Signing. Per Indiana Code 32-21-2-3, the grantor must sign the deed in the presence of a notary public and have the document acknowledged by the notary public.

What is a quit claim deed in Indiana?

What is an Indiana Quit Claim Deed? An Indiana quit claim deed form (sometimes called a quick claim deed or quitclaim deed) transfers Indiana real estate from the current owner (grantor) to the new owner (grantee) with no warrant of title.

What is a warranty deed?

by Practical Law Real Estate. A deed transferring title and legal interest in real property from the grantor to the grantee with full covenants and warranties.

What is the difference between a warranty deed and a mortgage?

According to , a general warranty deed guarantees that: The grantor legally owns the property and has the legal right to transfer it. There are no outstanding mortgages, liens or other claims against the property by any creditor.

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