Deed Without Warranty Vs Quitclaim Deed In Ohio
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FAQ
A quitclaim deed is seen as the weakest form of deed. A quitclaim deed offers the lowest protection to the grantee, and there are no covenants or warranties included in it. Quitclaim deeds are usually done between family members for simple transactions.
The key distinctions include: Interest transferred – A quitclaim deed conveys only the grantor's current ownership share, which may be incomplete. A warranty deed transfers the property in its entirety. Warranties and protection – Quitclaim deeds provide zero warranties or protection for the grantee.
Quitclaims, waivers, or releases by employees are generally looked upon with disfavor and are commonly frowned upon by the courts, since they are usually contrary to public policy, ineffective, and are meant to bar claims to an employee's legal rights.
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.
Warranty deeds are the safer option when buying property versus simply transferring ownership. Most buyers will want this option. If it is discovered that the seller did not have complete ownership of the property, the buyer can sue for breach of warranty.
General Warranty Deeds provide the most protection to the grantee (buyer). This deed guarantees that the grantor (seller) holds clear title and has the right to sell the property. Unlike a Special Warranty Deed, this guarantee extends back to the property's earliest title.
Quitclaim deeds, therefore, are commonly used to transfer property within a family, such as from a parent to an adult child, between siblings, or when a property owner gets married and wants to add their spouse to the title. Married couples who own a home together and later divorce also use quitclaim deeds.
In summary, a quitclaim deed may not be suitable in situations where there is uncertainty about ownership, when a buyer wants protection against potential title issues, when obtaining a mortgage or refinancing, or in certain real estate transactions that require more guarantees and protections.
Moreover, a quitclaim deed does not convey any after-acquired title.
