Deed Without Warranty Vs Quitclaim Deed In Massachusetts
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FAQ
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.
There are three types of real estate deeds in Massachusetts: release deeds, quitclaim deeds, and warranty deeds. Each of these deeds gives a buyer different degrees of protection and guarantees against defects. The covenants made by the seller in connection with each of these contain the differences among them.
Most current deeds fall into one of four categories: 1) General Warranty, 2) Special Warranty, 3) Quit Claim deed, and 4) Bargain and Sale deed. General Warranty Deed — The General Warranty deed is often referred to simply as a warranty deed.
A quitclaim deed is a legal document that transfers property from one person (the grantor) to another (the grantee). It does not guarantee the grantor's ownership rights. Unlike warranty deeds, it doesn't promise anything about the property's title or the grantor's rights.
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 deed is the legal document that “documents” change of ownership, i.e. the transfer of title from one owner to another. The title is not a physical object. It is more a concept which defines the person, more than one person, business or other entity who owns the property.
There are three types of real estate deeds in Massachusetts: release deeds, quitclaim deeds, and warranty deeds. Each of these deeds gives a buyer different degrees of protection and guarantees against defects. The covenants made by the seller in connection with each of these contain the differences among them.
Warranty Deeds offer the highest level of protection by guaranteeing the quality of the title even before the grantor took ownership. While Quitclaim Deeds offer protection for the period that the grantor owned the property being sold. And lastly, Release Deeds offer absolutely no assurances to the buyer at all.
