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The fundamental difference is that a Grant Deed ensures the grantor has a legal interest in the property, while a Quitclaim Deed releases only the potential interest one might have in a property without any warranties.
What is the main purpose of a grant deed?
Generally, gift deeds (or deeds of gift) are just another form of grant deed. They usually convey the title in fee simple, and they typically include the word grant in their operative language.
What is an important difference between a grant deed and a Quitclaim Deed?
Once a grant deed has been executed, the grantor is usually no longer involved with the real estate. On the other hand, with a deed of trust, the borrower and the lender have an ongoing relationship until the loan is paid off or the property is transferred to another party.
What is a grant deed in Hawaii?
A grant deed is a legal document used to transfer, or convey, rights in real property from a grantor (seller) to a grantee (buyer). Also referred to as a bargain and sale deed, this type of deed provides the grantee with less protection than a warranty deed, but more than a quitclaim deed.
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