Warranty deeds are the safer option when buying property versus simply transferring ownership. Most buyers will want this option.The special or limited warranty deed gives the grantee greater protection than a quitclaim deed and less protection than a full or general warranty deed. A warranty deed and a quitclaim deed are two different types of real estate deeds that individuals use in property transactions based on their legality. A quit claim deed is a simpler and lower cost conveyance often used when a property transfers ownership without being sold. A quitclaim deed, in contrast, contains no guarantees about the quality of the title or owner. Section 507.07 - WARRANTY AND QUITCLAIM DEEDS. Warranty and quitclaim deeds may be substantially in the following forms: WARRANTY DEED. A quit claim deed is unlike a warranty deed in that it does not ensure that the present owner has a clear title to the property. A quitclaim deed, in contrast, contains no guarantees about the quality of the title or owner.