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Quitclaim deeds are used in safer situations when there is little question about the ownership interest in a property ? in particular when the ownership is being transferred without an actual monetary transaction.
Quitclaim Deed There are no covenants or warranties by the grantor and this deed offers the lowest amount of protection to the grantee. This type of deed is also frequently used in transfers between family members and related transactions.
Typically, deeds contain the name of the current owner (the ?Grantor?), the name of the new owner (the ?Grantee?), the legal description of the real property, and the signature (notarized) of the Grantor. The deed will also describe how title is being held by the Grantee.
The deed that creates the least liability for the grantor is the: Quitclaim deed.
Typically, deeds contain the name of the current owner (the ?Grantor?), the name of the new owner (the ?Grantee?), the legal description of the real property, and the signature (notarized) of the Grantor. The deed will also describe how title is being held by the Grantee.