Warranty Deed Vs Quitclaim Deed Form California In Oakland
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California's Two Most Common Types of Deeds It's notarized and signed by the seller, who then records it with the county recorder's office. The two most common types of deeds in California are grant and quitclaim deeds.
A deed, as you know, is the legal document used by property owners to transfer their ownership of the property to a new owner. In California, the vast majority of property is transferred through one of two types of deeds: the grant deed – by far the most commonly used – and the quitclaim deed.
General warranty deeds give the grantee the most legal protection, while special warranty deeds give the grantee more limited protection. A quitclaim deed gives the grantee the least protection under the law.
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.
Today, Californians most often transfer title to real property by a simple written instrument, the grant deed. The word “grant” is expressly designated by statute as a word of conveyance. (Civil Code Section 1092) A second form of deed is the quitclaim deed.
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.
One of the main types of deeds in California is called a quitclaim deed. What is a quitclaim deed? It's a way to transfer your interest in that property to your trust or another person without a traditional sale.
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.
All warranty deeds in California must be accompanied by a completed Preliminary Change of Ownership Report when submitted for recording. Instruments that are entitled to be recorded may be recorded in the office of the county clerk in the county where the property is located (CIV 1169).
A warranty deed makes a promise to the buyer that the seller has good title to the property. A quitclaim deed, on the other hand, makes no promises. A quitclaim deed just says; whatever interest I have in this property, I give to you.
