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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 members, for instance, from a parent to a child.
The Quitclaim Deed must be docHubd, and then recorded at the County Recorders office.
What does a quitclaim deed do? A quitclaim deed transfers the title of a property from one person to another, with little to no buyer protection. The grantor, the person giving away the property, gives their current deed to the grantee, the person receiving the property.
How to Transfer Indiana Real Estate Locate the prior deed to the property. Create the new deed. Sign the new deed. Record the original deed.
With a warranty deed, the person transferring title of a property (the seller) is guaranteeing that they have a defensible ownership interest in the property and can therefore transfer their ownership interest to the other party (the buyer).
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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.
A quitclaim deed is quick and easy because it transfers all of one persons interest in the property to another. However, a quitclaim doesnt make any guarantees about what that interest might be. The deed transfers all claims the seller has to the property, if any.
Terms in this set (4) In which of the following situations could a quitclaim deed NOT be used? c. The answer is to warrant that a title is valid.
To add a spouse to a deed, all you have to do is literally fill out, sign and record a new deed in your county recorders office.
Adding someone to your house deed requires the filing of a legal form known as a quitclaim deed. When executed and docHubd, the quitclaim deed legally overrides the current deed to your home. By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership.

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