Deed Without Warranty Vs Quitclaim Deed In Minnesota
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By Practical Law Real Estate. A quit claim deed conveying a grantor's title and interest, if any, in Minnesota real property without warranty of title. This Standard Document has integrated notes with important explanations and drafting tips.
A general warranty deed is used to transfer an interest in real estate in Minnesota in most real estate transactions. A Minnesota warranty deed conveys real property with warranty covenants to the buyer. It requires an acknowledgement of the grantor's signature.
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.
This is because a quitclaim deed offers the lowest level of protection. When writing a quitclaim deed, the grantor isn't offering any protection or warranty to the grantee.
The type of deed you should use depends on the type of transaction and your desired level of protection. Generally, a quitclaim deed is ideal for situations involving only transfer of ownership between parties that explicitly trust one another and have no doubts about the title of the property.
