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.
Deed Without Warranty Vs Quitclaim Deed In Minnesota
State:
Multi-State
Control #:
US-00186
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
By Practical Law Real Estate. A quit claim deed conveying a grantor's title and interest, if any, in Minnesota real property without warranty of title. This Standard Document has integrated notes with important explanations and drafting tips.
A general warranty deed is used to transfer an interest in real estate in Minnesota in most real estate transactions. A Minnesota warranty deed conveys real property with warranty covenants to the buyer. It requires an acknowledgement of the grantor's signature.
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.
This is because a quitclaim deed offers the lowest level of protection. When writing a quitclaim deed, the grantor isn't offering any protection or warranty to the grantee.
The type of deed you should use depends on the type of transaction and your desired level of protection. Generally, a quitclaim deed is ideal for situations involving only transfer of ownership between parties that explicitly trust one another and have no doubts about the title of the property.
More info
Unlike a warranty deed, which provides guarantees about the property's title, a quit claim deed makes no warranties or guarantees. A quit claim deed is a simpler and lower cost conveyance often used when a property transfers ownership without being sold.Also called a non-warranty deed, a quitclaim deed conveys whatever interest the grantor currently has in the property, if any. The minimum Deed Tax is due on the recording of a quit claim deed given for the purpose of correcting an error or omission in an original deed. A quitclaim deed is named as such because it means that the owner is leaving behind their claim on the property. Section 507.07 - WARRANTY AND QUITCLAIM DEEDS. Warranty and quitclaim deeds may be substantially in the following forms: WARRANTY DEED. Warranty and quitclaim deeds may be substantially in the following forms:​. Instead, quitclaim deeds are used when there is a property transfer outside of a real estate sale. Minnesota quitclaim deeds include no warranty and therefore place all risk of title problems on the new owner.