US Legal Forms
Authority to Release of Deed of Trust

Deed Without Warranty Vs Quitclaim Deed In Cuyahoga

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Multi-State

County:

Cuyahoga

Control #:

US-00186

Format:

Instant download

Description

This form is an Authority to Release. The county clerk is authorized and requested to release from a deed of trust a parcel of land to the executor of the estate. The form must be signed in the presence of a notary public.

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FAQ

The title is transferred without any amendments or additions. So, if the grantor has what someone would consider a “bad” title, that means the grantee is receiving it as is. Therefore, quitclaim deeds are often used between family members or to simply fix an error in the original title.

While quitclaim deeds do transfer property rights, they do not absolve the grantor of any existing mortgage obligations. This could mean foreseeable foreclosure risks for the grantee if the grantor fails to keep up with mortgage payments.

The key distinctions include: Interest transferred – A quitclaim deed conveys only the grantor's current ownership share, which may be incomplete. A warranty deed transfers the property in its entirety. Warranties and protection – Quitclaim deeds provide zero warranties or protection for the grantee.

General warranty deeds give the grantee the most legal protection, while special warranty deeds give the grantee more limited protection. A quitclaim deed gives the grantee the least protection under the law.

Quitclaims, waivers, or releases by employees are generally looked upon with disfavor and are commonly frowned upon by the courts, since they are usually contrary to public policy, ineffective, and are meant to bar claims to an employee's legal rights.

There are many uses for a quitclaim deed, but one of the most common is to convey ownership between people who are related, like spouses, parents or other family members.

General warranty deeds: A general warranty deed provides the most protection to the buyer but gives the grantor the highest degree of liability. The grantor of a general warranty deed fully warrants good, clear title to the property.

It's safer to use a warranty deed any time you are not entirely sure of your or someone else's ownership stake in any property. If you are transferring a property to your child or to a revocable trust agreement as part of an estate plan, then a quitclaim deed could do the trick.

More info

A quitclaim deed is a legal instrument which is used to transfer interest in real property. The entity transferring its interest is called the grantor.(B) Quit Claim deeds. Occasionally quitclaim deeds are presented where the grantor is not the current owner of record. A Quitclaim Deed is a legal document that transfers property from one person to another without any kind of guarantee or warranty from the seller. What is a quitclaim deed, and how does it differ from a warranty deed? A warranty deed and a quit claim deed are both legal documents that can be used to transfer ownership of real property. Quitclaim deeds offer no warranties of title and provide the least amount of protection for the grantee (buyer). Information about Ohio deed law, including Ohio quitclaim deed form, Ohio special warranty deed form, and Ohio warranty deed form. An Ohio quit claim deed is a legal document that transfers whatever interest someone has in a certain piece of real estate to someone else.

Deed Without Warranty Vs Quitclaim Deed In Cuyahoga

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FAQ

What is the usual reason for using a quitclaim deed?

What are the dangers of a quitclaim deed?

Is a non warranty deed the same as a quit claim deed?

What is the best type of deed to have?

Why are quitclaims generally frowned upon?

Who benefits the most from a quitclaim deed?

What is the strongest form of deed?

Which is better, quit claim deed or warranty deed?

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