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The way a quitclaim deed works is that this type of transfer makes no seller guarantees. It merely states that the seller transfers any ownership interest to the buyer. So if the seller has absolutely no ownership interest in the property, thats precisely what transfers in a quitclaim deed to any buyer.
What is required on a quitclaim deed in Nevada?
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.
What is the usual reason for using a quitclaim deed?
A quitclaim deed is a legal document and requires a legal description of the property being deeded, the county in which the property is located, the date of property transfer, the name(s) of the person transferring the property (grantor), and the name(s)of the person in receipt of the property (grantee).
What are the disadvantages of a quit claim 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.
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Quitclaim deed means a deed of conveyance operating by way of release, that is, intended to pass any title, interest or claim which the grantor may have
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