Deed Without Warranty Vs Quitclaim Deed In Philadelphia
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If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
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FAQ
General warranty deeds: A general warranty deed provides the most protection to the buyer but gives the grantor the highest degree of liability. The grantor of a general warranty deed fully warrants good, clear title to the property.
Yes. But it is usually a good idea to have someone with certain expertise in the field such as an attorney or title company prepare it for you to make sure it's correct.
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.
Also called a non-warranty deed, a quitclaim deed conveys whatever interest the grantor currently has in the property, if any. The grantor only “remises, releases, and quitclaims” their interest in the property to the grantee. There are no warranties or promises regarding the quality of the title.
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.
Quitclaim Deeds: Quitclaim Deeds are used to transfer property ownership without any warranties regarding the title. This means the grantor isn't guaranteeing anything, even that they own the property, or that the title is clear.
It is common for property sales to use a quitclaim deed and protect the buyer through contract law. However, another way to handle this is with a warranty deed.
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.
To add, remove, or change a name on a deed, have a lawyer, title company, or other real estate professional prepare the deed. Then, record the new deed with the Department of Records. Note: We recommend that you do not prepare a deed on your own.
