Maine Quitclaim and Bill of Sale of Pipeline
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How to fill out Quitclaim And Bill Of Sale Of Pipeline?
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FAQ
Due to this, quitclaim deeds typically are not used in situations where the property involved has an outstanding mortgage. After all, it would be difficult for many grantors to pay off a mortgage without proceeds from the sale of the property.
Recording ? Like all deeds in Maine, this deed must be acknowledged by a notary and filed with the Registry of Deeds in the County in which the property is located. Real Estate Transfer Tax (§ 4641) ? Must be filed with an accompany deed and can be completed Online or with the Printable Form.
General Warranty Deed ? The General Warranty deed is often referred to simply as a warranty deed. It is a deed conveying title where the seller (grantor) makes six covenants or promises to the buyer (grantee) as part of the conveyance.
A Maine quitclaim deed without covenant passes to the new owner?with no covenants or warranty of title?whatever interest the person signing the deed (the grantor) has the power to transfer. If the grantor holds good, clear title, the new owner receives good, clear title.
A Maine quitclaim deed without covenant is a type of deed that transfers all of the signer's rights in Maine real estate with no warranty of title. The new owner receives the entire interest the transferor can legally transfer.
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.
A warranty deed promises that the grantor holds good, clear title to a piece of real estate. It promises also that the grantor has the right and authority right to sell it to the grantee or buyer. A quitclaim deed, on the other hand, makes no promises about the quality of the title to the property.
No guarantees to the new owner: Unlike a warranty deed, a quitclaim deed does not guarantee that a property is free from title defects such as tax liens or title claims from third parties. For this reason, it is a poor legal instrument to use when selling a piece of property for cash considerations.
