Warranty Deed Vs Quit Claim Deed In Allegheny
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
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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.
We protect your documents and personal data by following strict security and privacy standards.
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FAQ
The General Warranty Deed In these, the grantor makes several promises to defend against general claims against the property. This means that if someone claims to have superior rights to the grantor, the grantor will be legally bound to fight these claims.
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.
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.
Pennsylvania's recording requirements for deeds include: Identification of parties. A deed must contain the current owner's and new owner's legal names and the new owner's residential address and mailing address. Consideration. Property description. Notarized signature.
The deed must meet the format and content requirements in Pennsylvania law. It should specify the grantor, grantee, and property details. The property description must be legally sufficient - a real estate lawyer in Philadelphia can research the prior deeds and draft an accurate description.
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.
This can only be done by recording a new deed showing the change. Many people think they can simply come into the office and change the present deed on record. However, once a paper is recorded, it cannot be changed. The new deed can be prepared by your attorney, title insurance company or a real estate office.
Submit the completed Quit Claim Deed to the local county recorder's office. Depending on your location, you may be able to submit online, via mail, or in person. Be sure to include any necessary fees and documentation to ensure a swift processing.
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.
