Warranty Deed Vs. Quit Claim Deed In Massachusetts In Wake
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FAQ
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.
Warranty Deeds offer the highest level of protection by guaranteeing the quality of the title even before the grantor took ownership. While Quitclaim Deeds offer protection for the period that the grantor owned the property being sold.
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.
You can sell as a warranty deed... but this means you are warranting clean title and the buyer can come back to you, you should only provide a warranty deed if there's a title company/title insurance being purchased.
Special Warranty Deed Risks: The limited protection may expose buyers to title issues that arose before the seller's ownership period. This can be risky, especially for older properties or those with a complicated title history.
Because of the lack of title guarantees, quitclaim deeds are most often used to transfer property between two parties who know and trust each other, such as family members.
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.
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.
Because of the lack of title guarantees, quitclaim deeds are most often used to transfer property between two parties who know and trust each other, such as family members.
