A deed is an instrument by which an owner (the grantor) transfers an interest in land to a new owner (the grantee). No consideration is required to make the deed effective. The deed is necessary to transfer title to land even if it is a gift. It has no effect, and title does not pass until the deed has been delivered. The recording of the is not required to make the deed effective to pass title between the buyer and the seller. However, recording is necessary so that the public will know that the buyer is the present owner.
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. This type of deed is commonly used to clear title to property. A warranty deed transfers a specified interest and warrants or guarantees that this interest is transferred. The grantor warrants that the title is good, that the transfer is proper, and that there are no liens other than stated in the deed. The grantee can sue if the warranty is breached.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
A quitclaim deed with survivorship is a legal document used to transfer property ownership between individuals, ensuring that if one owner passes away, the surviving owner automatically assumes full ownership rights. This type of deed combines elements of a quitclaim deed, which transfers ownership without guaranteeing the existence of clear title, with survivorship rights, which grant the surviving owner immediate ownership upon the death of the other owner. It is important to note that quitclaim deeds with survivorship may have different names depending on the state or jurisdiction. Some common variations include joint tenancy with rights of survivorship (TWOS) quitclaim deed, tenancy by the entirety quitclaim deed, and community property with right of survivorship quitclaim deed. Each type operates slightly differently, so it is crucial to consult with a real estate attorney to ensure compliance with local laws when using these documents. A joint tenancy with rights of survivorship (TWOS) quitclaim deed is commonly used by spouses or business partners. It allows the concurrent owners to hold equal shares of the property, with the right of survivorship ensuring that if one owner dies, their share automatically transfers to the surviving owner(s) without going through probate. A tenancy by the entirety quitclaim deed is a variation exclusively available to married couples. It functions similarly to joint tenancy with rights of survivorship, but with additional benefits such as creditor protection, as the property is considered a shared marital asset that cannot be individually encumbered without both spouse's consent. Another type, the community property with right of survivorship quitclaim deed, is available in some community property states. This form of quitclaim deed is designed to allow married couples to claim community property rights and survivorship rights simultaneously. When utilizing a quitclaim deed with survivorship, certain keyword terms might be relevant to keep in mind. These include "property ownership transfer," "legal document," "quitclaim deed," "survivorship rights," "co-owning property," "probate avoidance," "real estate attorney," "joint tenancy," "tenancy by the entirety," and "community property." These keywords can help provide a comprehensive understanding of the topic and assist in further research or legal conversations surrounding quitclaim deeds with survivorship.
