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A quitclaim deed cannot be used to warrant that a title is valid. It can convey title, release nominal interests, and remove clouds on title, but it does not guarantee the ownership or validity of the title being transferred.
What is the purpose of a quitclaim deed?
The quitclaim deed simply transfers any interest they may have to the other party. Because of the lack of title guarantees, quitclaim deeds are most often used to transfer property between two parties who know and trust each other, such as family members.
In which of the following situations would a quitclaim deed not be used?
Quitclaim deeds are popular for their simplicity and speed. They require less paperwork than other property transfer methods. Ideal for non-traditional handovers, like between family members or to clear title issues. However, they dont guarantee the seller has a clear title, an important consideration for buyers.
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RP-5217-PDF Real Property Transfer Report Instructions
A foreclosure deed or quitclaim deed would fall into this category. F. Sale of Fractional or Less than Fee Interest (Specify Below) - An interest in part of a
Quitclaim deeds may be in substance in the following form: The grantor (here insert the name or names and place of residence), for and in consideration
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