A quitclaim deed transfers whatever interest, if any, a grantor may have in the property, without specifying the interest in any way. No warranty of ownership is given. A quitclaim therefore can be used to terminate an easement. This form is a generic example that may be referred to when preparing such a form for your particular state.
Quitclaim Deed For Easement
Category:
State:
Multi-State
Control #:
US-00992BG
Format:
Word;
Rich Text
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How to fill out Quitclaim Deed Termination Or Terminating Easement?
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FAQ
There are eight ways to terminate an easement: abandonment, merger, end of necessity, demolition, recording act, condemnation, adverse possession, and release.
Disadvantage. The great disadvantage for the grantee who takes property using a quitclaim deed is the fact that if events prove that the grantor had no title, or limited title, to the property, the quitclaim deed does not allow the grantee to sue the grantor.
The benefited land is called the dominant tenementThe land that benefits from an easement., and the burdened landthat is, the land subject to the easementis called the servient tenement.
Even if you sign a quitclaim deed, the mortgage balance will continue to show up on your credit report. This will hurt what is called your debt utilization ratio. This may mean you have too much debt to be qualified for your next mortgage when you want to buy a new home.
2. The General Warranty Deed: On the opposite side of the spectrum from the quitclaim deed is the general warranty deed. The grantor of a general warranty deed makes five specific guarantees by the granting of the general warranty deed.
