This form is an Authority to Release. The county clerk is authorized and requested to release from a deed of trust a parcel of land to the executor of the estate. The form must be signed in the presence of a notary public.
Deed Without Warranty Vs Quitclaim Deed In Wake
State:
Multi-State
County:
Wake
Control #:
US-00186
Format:
Word;
Rich Text
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FAQ
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.
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.
Because a quitclaim deed offers no protection for buyers, it should not be used during traditional real estate sales. There is no guarantee of a clear title. Instead, quitclaim deeds are used when there is a property transfer outside of a real estate sale.
There are three types of deeds in North Carolina and each offer different types of protection. The three deeds are: (1) general warranty deed, (2) special warranty deed, and (3) 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.
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.
A general warranty deed is used to transfer real property from one person to another. This type of deed offers the greatest protection for the buyer and has specific requirements for what must be included in the document.
More info
A warranty deed transfers the property in its entirety. Warranties and protection – Quitclaim deeds provide zero warranties or protection for the grantee.A warranty deed and a quit claim deed are both legal documents that can be used to transfer ownership of real property. A deed executed and delivered without consideration, or payment. The most common types of deeds are the General Warranty Deed, the Special Warranty Deed, and the Non-Warranty Deed (also known as the Quit Claim Deed). Without warranties, a quitclaim deed offers the grantee little protection if title issues arise. A quit claim deed is a simpler and lower cost conveyance often used when a property transfers ownership without being sold. A quitclaim deed conveys whatever interest the Grantor has in the property, if there really is any interest, and may not be a deed with any effect at all. The Register of Deeds Office serves as custodian and manager of a large number of public records, including deeds, deeds of trust, and subdivision plats. Quitclaim deeds are commonly used to transfer real property to an LLC or a living trust.