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A quitclaim deed is a legal document that transfers property from one person (the grantor) to another (the grantee). It does not guarantee the grantor's ownership rights. Unlike warranty deeds, it doesn't promise anything about the property's title or the grantor's rights.
A warranty deed offers the strongest protection. It protects the party receiving the property title in case there turns out to be any issues with the title.
Warranty Deeds offer the highest level of protection by guaranteeing the quality of the title even before the grantor took ownership. While Quitclaim Deeds offer protection for the period that the grantor owned the property being sold. And lastly, Release Deeds offer absolutely no assurances to the buyer at all.
A warranty deed offers the strongest protection. It protects the party receiving the property title in case there turns out to be any issues with the title.
A quitclaim deed is a legal document that transfers property from one person (the grantor) to another (the grantee). It does not guarantee the grantor's ownership rights. Unlike warranty deeds, it doesn't promise anything about the property's title or the grantor's rights.
Because of the lack of title guarantees, quitclaim deeds are most often used to transfer property between two parties who know and trust each other, such as family members.
There are three kinds of deeds used for real estate transactions in Massachusetts: warranty deeds, release deeds, and quitclaim deeds. Each offers different types of protection and guarantees against any defects in the title that is being transferred in the transaction.
Warranty Deeds offer the highest level of protection by guaranteeing the quality of the title even before the grantor took ownership. While Quitclaim Deeds offer protection for the period that the grantor owned the property being sold. And lastly, Release Deeds offer absolutely no assurances to the buyer at all.
A warranty deed makes a promise to the buyer that the seller has good title to the property. A quitclaim deed, on the other hand, makes no promises. A quitclaim deed just says; whatever interest I have in this property, I give to you.
A warranty deed offers the strongest protection. It protects the party receiving the property title in case there turns out to be any issues with the title.