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The Water Cooler
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Question about Quit Claim Deed
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<blockquote data-quote="longrangepistol" data-source="post: 1687541" data-attributes="member: 4182"><p>It's what type of deed executed that takes precedence over any language contained within the deed. A Warranty Deed will have the requisite language "warrantying the title and it's passage to the grantee" a Quit Claim Deed will contain language that "quits" whatever interest the Grantor may or may not have to the grantee. If you think you can change the "language" within the instrument to reflect one type of transfer and then style (label) the deed whatever you want to label it then you will end up clouding the title of the property in question. A quiet title action to clear up the title is not a cheap endeavor.</p><p></p><p>Warranty Deed: Grantor, when transferring the title to you, warrants that he owns the property free and clear of all liens. This is the preferred method used by every title company I've dealt with.</p><p></p><p>Quit Claim Deed: Grantor, "quits" whatever interest he may have in the property unto the Grantee. A <u>quitclaim deed typically is executed when the property isn't sold</u> -- <strong>when the owner dies and bequeaths it to someone</strong>, or when the <strong>owner gets married and wants to add the spouse's name</strong> to the title, or <strong>when a former spouse's name is removed as part of a divorce settlement</strong> or when the property is <strong>transferred to a living trust</strong>.</p><p></p><p></p><p></p><p></p><p>LRP</p></blockquote><p></p>
[QUOTE="longrangepistol, post: 1687541, member: 4182"] It's what type of deed executed that takes precedence over any language contained within the deed. A Warranty Deed will have the requisite language "warrantying the title and it's passage to the grantee" a Quit Claim Deed will contain language that "quits" whatever interest the Grantor may or may not have to the grantee. If you think you can change the "language" within the instrument to reflect one type of transfer and then style (label) the deed whatever you want to label it then you will end up clouding the title of the property in question. A quiet title action to clear up the title is not a cheap endeavor. Warranty Deed: Grantor, when transferring the title to you, warrants that he owns the property free and clear of all liens. This is the preferred method used by every title company I've dealt with. Quit Claim Deed: Grantor, "quits" whatever interest he may have in the property unto the Grantee. A [U]quitclaim deed typically is executed when the property isn't sold[/U] -- [B]when the owner dies and bequeaths it to someone[/B], or when the [B]owner gets married and wants to add the spouse's name[/B] to the title, or [B]when a former spouse's name is removed as part of a divorce settlement[/B] or when the property is [B]transferred to a living trust[/B]. LRP [/QUOTE]
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