Warranty Deed Vs Quitclaim Deed For Property In King
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FAQ
General warranty deeds give the grantee the most legal protection, while special warranty deeds give the grantee more limited protection. A quitclaim deed gives the grantee the least protection under the law.
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.
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.
The safest type of deed is a warranty deed, which gives complete assurance that the grantor has every legal right to grant ownership to the grantee. On the other hand, a quitclaim deed transfers ownership without any legal guarantee or warrants that there are no encumbrances or liens on the property.
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.
The easiest and cheapest way would be for owner to transfer by using a ``quitclaim'' deed where they are the grantor and the children are the grantees. A real estate attorney or title company can prepare the deed for around $100.
The process of filing a copy of a deed or other document concerning real estate or land ownership with the land records office for the county in which the land is located. In King County, documents are filed with the Recorder's Office to create a public record of changes in ownership of all property in the state.
Quitclaim deeds are often used in non-sale situations, such as property transfers between family members or adding/removing a spouse from a title.
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.
