Quick Deed Vs Warranty Deed In California
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FAQ
Quitclaim deeds are typically used to transfer property in non-sale situations, such as transfers of property between family members.
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Transfer property between family members Quitclaim deeds are most commonly used between family members or people who trust each other, since there is a level of risk when you don't know all the details about the property. Think of a quitclaim deed as a transaction without a verification for what you've purchased.
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.
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.
Ultimately, the main problem with quitclaim deeds is their lack of any guaranty on the part of the person transferring their ownership interest in the property. With a quitclaim deed, the grantor only states that they are transferring any interest they may have in the property–whatever that interest may be.
A deed, as you know, is the legal document used by property owners to transfer their ownership of the property to a new owner. In California, the vast majority of property is transferred through one of two types of deeds: the grant deed – by far the most commonly used – and the quitclaim deed.
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.
