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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.
What is the purpose of a quitclaim deed?
In North Carolina, any person or entity with an interest in real estate is required to file a quitclaim deed with the county register of deeds office for the county in which the property is located.
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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
Quit claim deeds, also called a non-warranty deeds, are sometimes used to transfer property as well as clear titles. Sellers tend to be more willing to transfer
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