Quit claim deed loopholes7/7/2023 ![]() ![]() It's vital to note that a quitclaim deed does not guarantee that the grantor has clear title to the transferred property. It creates a public record of the transfer of ownership and helps protect the grantee's ownership interest in the property. ![]() They must file the quitclaim deed with the county recorder's office in the county where the property is located. The grantee must receive the original signed quitclaim deed from the grantor. The grantor signs the quitclaim deed in the presence of a notary public, who will verify the grantor's identity and witness the process. The grantor must fill out the quitclaim deed, which includes information such as the names and addresses of the grantor and grantee, a legal description of the property, and the date of the transfer. The grantor is the person who currently owns the property and wishes to transfer it to someone else. ![]() Instead, it simply transfers any ownership interest the grantor (the person transferring the property) has in the property to the grantee (the person receiving the property). They are also used in situations where the seller is not entirely sure of their ownership interest in the property, such as in cases where there may be competing claims or unclear title issues.Ī quitclaim deed provides no guarantee about the title of the transferred property. Quitclaim deeds are commonly used when the parties know and trust each other, such as transfers between family members or divorcing spouses. The following blog discusses what a quitclaim deed is, how it works, and its advantages and disadvantages. It can be used in various circumstances, such as resolving disputes, removing a name from the title, gifting property, and transferring property between family members without a sale. A quitclaim deed is an important document that transfers an individual's ownership rights to a property or real estate to another person. ![]()
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