Warranty Deed Vs Quit Claim Deed For House In Allegheny
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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
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.
It's most commonly used in non-sale situations, such as transfers between family members, or to update or clarify ownership titles. However, because it offers no warranties or guarantees, it carries risk for the grantee. Quitclaim deeds should be used cautiously and under appropriate circumstances.
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.
Using a quitclaim deed template explicitly created for Pennsylvania will help ensure the form contains all relevant information. The name and address of the grantor (the current owner of the property) The name and address of the grantee (the new owner of the property) A granting clause, specifically required by Penn.
Quitclaim deeds are often used in non-sale situations, such as property transfers between family members or adding/removing a spouse from a title.
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 general warranty deed is a deed used to legally transfer real property from one person to another. This type of deed offers the most protection for the buyer.
