Warranty Deed Vs. Quit Claim Deed In Massachusetts In Pima
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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.
It's safer to use a warranty deed any time you are not entirely sure of your or someone else's ownership stake in any property. If you are transferring a property to your child or to a revocable trust agreement as part of an estate plan, then a quitclaim deed could do the trick.
A quitclaim deed is a legal document that transfers property from one person (the grantor) to another (the grantee). It does not guarantee the grantor's ownership rights. Unlike warranty deeds, it doesn't promise anything about the property's title or the grantor's rights.
Quitclaim deeds are the most common type of deed in Massachusetts. The primary difference between a quitclaim deed and a warranty deed is that while a warranty deed makes guarantees for the time before the grantor's ownership, a quitclaim deed only makes guarantees for the time of the grantor's ownership.
Essentially a quitclaim deed provides the same protections as a warranty deed, except it limits how far back in time the grantor is liable for any problems resulting from the title.
What Is the Strongest Type of Deed? For real estate buyers, a general warranty deed provides greater protection than any other type of deed. While it's the best deed for the grantee, it gives the grantor the most liability.
It's safer to use a warranty deed any time you are not entirely sure of your or someone else's ownership stake in any property. If you are transferring a property to your child or to a revocable trust agreement as part of an estate plan, then a quitclaim deed could do the trick.
General warranty deed It's the type of deed that offers the most buyer protection. When committing to a general warranty deed, the seller is promising there are no liens against the property, and if there were, the seller would compensate the buyer for those claims.
Quitclaim deed transfers are ideal for: transferring property interest between family members, such as a parent to a child.
