Warranty Deed Vs Quit Claim Deed Form Florida In Michigan
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FAQ
No, a warranty deed does not prove ownership. A title search is the best way to prove that a grantor rightfully owns a property. The warranty deed is a legal document that offers the buyer protection.
A warranty deed promises that the grantor holds good, clear title to a piece of real estate. It promises also that the grantor has the right and authority right to sell it to the grantee or buyer. A quitclaim deed, on the other hand, makes no promises about the quality of the title to the property.
Quitclaim Deeds A quitclaim deed is the opposite of a warranty deed in that the grantor is transferring title to a piece of property but is not warranting that they have good title to that property. A quitclaim deed only transfers whatever interest that the grantor has in the property at the time of the conveyance.
Because a quitclaim deed offers no protection for buyers, it should not be used during traditional real estate sales. There is no guarantee of a clear title. Instead, quitclaim deeds are used when there is a property transfer outside of a real estate sale.
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.
A warranty deed, like the other deeds, conveys an ownership interest in the real estate to the grantee or buyer. However, a warranty deed also conveys a promise that the grantor is transferring good and clear title to the grantee.
In the USA, the Deed is the only definitive document that proves ownership. You can access most Tax Assessors office online and look up your property. Find the Book & Page number for the Deed usually published by the Tax Assessors. Then go to the courthouse and pull your Deed. It will have the owner's name on the Deed.
