Warranty Deed Vs Quitclaim Deed For Property In Alameda
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If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
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FAQ
Common uses – Typically, quitclaim deeds are used for lower-risk transfers between related parties. In contrast, warranty deeds are used for real estate sales and high-value transactions involving unrelated grantees. Grantee risks – With a quitclaim deed, all risks remain with the grantee.
Long story short: If you are the buyer, then the warranty deed is more favorable to you because it provides a more solid legal protection. If you're the seller, the quitclaim deed is more favorable to you.
This is because a quitclaim deed offers the lowest level of protection. When writing a quitclaim deed, the grantor isn't offering any protection or warranty to the grantee.
Warranty Deeds A warranty deed offers the same promises as a grant deed, and then some. The owner of a property is guaranteeing that they have the full right to sell and transfer the property, and that the property is clear of any present or future claims, such as liens and taxes.
A warranty deed offers the strongest protection. It protects the party receiving the property title in case there turns out to be any issues with the title.
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.
Who Benefits the Most from Recording a Warranty Deed? The buyer, or grantee, of a property benefits the most from obtaining a warranty deed. Through the recording of a warranty deed, the seller is providing assurances to the buyer should anything unexpected happen.
Quitclaim deeds are irrevocable, which makes them quite difficult to undo in most states. However, it's possible to contest one. The easiest way to reverse a quitclaim is to obtain the grantor's consent and sign a new quitclaim that restores the property title to the original owner.
If you wish to remove someone from a deed, you will need their consent. This can be done by recording a new deed, which will require their signature. If the person in question is deceased, you will need their death certificate and a notarized affidavit along with the new deed.
If you think a quitclaim deed may be appropriate for you, consult an estate planning attorney. They can draft a quitclaim deed for you transferring ownership of the real property from the grantor (or property owner) to the grantee (person receiving the interest). You should sign the deed in front of a notary public.
