Warranty Deed Vs Quit Claim Deed Form Florida In North Carolina
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Long story short: If you are the buyer, then the warranty deed is more favorable to you because it provides a more solid legal protection. If you're the seller, the quitclaim deed is more favorable to you.
A general warranty deed includes covenants that protect the buyer from claims by undisclosed heirs, ensuring that any future disputes over inheritance are the responsibility of the seller.
When you inherit a home through probate, transferring title often requires a deed—commonly a quitclaim deed—to reflect the new owner. North Carolina law does not strictly require you to hire an attorney to draft that document. However, several considerations make professional help wise.
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.
In Florida, quitclaim deeds are most often used to transfer property to one's family or a family LLC or estate planning trust.
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.
Sign the quitclaim deed in the presence of a notary public, ensuring all parties involved also sign and date the document. Submit the completed and notarized quitclaim deed to the appropriate county registry office for recording. Keep a copy of the recorded quitclaim deed for your records.
A warranty deed does not prove ownership of property in Florida. The only way to ensure ownership is through a title search, which examines public records for any issues that could affect the ownership.
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.
