Special Warranty Deed Vs Quit Claim Deed In Maryland

• State: Multi-State
• Category: Real Estate - Mortgages and Deeds of Trust
• Control #: US-00186
• Format: Word; Rich Text

Description

In Maryland, a Special Warranty Deed and a Quit Claim Deed serve different purposes in the transfer of property rights. A Special Warranty Deed provides a warranty that the grantor has good title to the property and guarantees against any claims arising during their period of ownership, while a Quit Claim Deed transfers whatever interest the grantor has without any warranties or guarantees. This means that a person receiving a property through a Special Warranty Deed is protected from title defects that may have occurred after the grantor took ownership, which is not the case with a Quit Claim Deed. Both forms require specific filling and editing instructions, including the accurate identification of parties and property, along with notarization to be valid in Maryland. The choice between these two deeds depends largely on the level of protection desired by the grantee. Attorneys, partners, and legal assistants will find these distinctions crucial in advising clients or executing property transactions. A Special Warranty Deed is often suitable for sales, while a Quit Claim Deed is more commonly used for family transfers or in divorce settlements, where the parties may be aware of any title issues.