Colorado Gift Deed of Nonparticipating Royalty Interest with No Warranty
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How to fill out Gift Deed Of Nonparticipating Royalty Interest With No Warranty?
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FAQ
Quitclaim Deed This type of deed conveys whatever interest the grantor currently has in the property?if any. No warranties or promises regarding the quality of the title are made. If the grantor has a good title, the quitclaim deed is essentially as effective as a general warranty deed.
In short, the distinction between the two forms of ?warranty? deeds is that in a general warranty deed, the seller warrants against anything any owner of the property ever did to encumber title and in a special warranty deed the seller only warrants against anything the seller did to encumber title.
Quitclaim deeds do not contain any implied warranties or covenants. Under a quitclaim deed, the grantor simply transfers its whole interest in the described real estate, but makes no covenant or representation that the grantor in fact has any interest in the subject property.
For any type of real estate title transfer, you'll need to fill out the appropriate forms and have all parties sign in front of a notary. The new owner is responsible for filling out a Real Property Transfer Declaration form and recording the deed at both the recorder's and county clerk's offices.
Quitclaim Deed This deed conveys to the grantee only that which the grantor has in the property at the time of the conveyance, which could be nothing at all. There are no covenants or warranties by the grantor and this deed offers the lowest amount of protection to the grantee.
By contrast, a quitclaim deed contains no warranties. All it does is transfer whatever interest the grantor has in the property over to the other person. There is no guarantee against the fact that the other owners have the ability to claim the property.
A quitclaim deed is a deed by which a grantor transfers only the interest the grantor has at the time the conveyance is executed. There are no implied warranties in connection with a quitclaim deed.
A bargain and sale deed may come with or without covenants of warranty.
