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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.
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.
Laws. Signing ( 38-35-103) The quitclaim deed in Colorado must be acknowledged in front of a notary public.
Average Title transfer service fee is ₱20,000 for properties within Metro Manila and ₱30,000 for properties outside of Metro Manila. The rate typically includes payment for the food gas of the person doing the transferring.
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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 file a Colorado quitclaim deed form, you must bring your signed and docHubd quitclaim deed to the county clerk where the property is located. Make sure that you bring any required fees as well. Create a free Colorado Quit Claim Deed in minutes with our professional document builder.
A Colorado quitclaim deed is used to transfer property without a warranty from the seller. There is no specific guarantee the seller has exclusive claim to the Property at hand or even the Title. Conceivably, they could be transferring no interest in the property.
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).
Most documents, legal size or smaller, are assessed a $13 recording fee for the first page and an additional $5 recording fee for each additional page. Transfer documents (Warranty Deeds, Quit Claim Deeds, etc) will be assessed a documentary tax if the consideration is $500 or more in addition to the recording fee.

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