Virgin Islands 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
A Florida quit claim deed is used to transfer ownership of real estate with no guarantee or warranties. This would mean to the buyer ('Grantee') that the person selling the property ('Grantor') is not guaranteeing that they own the property.
To sell a home you received through a quitclaim deed, you will still need to transfer ownership using a warranty deed. To do this, you'll need to hire a title company to perform a title search, which will generally cost between $150 and $400, but can be much more depending on the property.
As a refresher, a grantor who uses a bargain and sale deed is guaranteeing that they own the property outright. This means that no other owner has a stake to claim with regards to the property title. In contrast, a quitclaim deed provides no such warranties.
A quitclaim deed transfers title to Florida real estate without giving any guarantee as to the quality of the grantor's title. In other words, a quitclaim deed gives whatever interest that the grantor has in the property to the grantee, but does not warrant that the grantor has any interest.
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.
