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Authority to Release of Deed of Trust

Deed Without Warranty Vs Quitclaim Deed In Utah

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Multi-State

Control #:

US-00186

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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

It is common for property sales to use a quitclaim deed and protect the buyer through contract law. However, another way to handle this is with a warranty deed.

Statutory Warranty Deed – used in transactions in which the grantor desires to limit the warranty to the time in which the grantor has owned the property. Quitclaim Deed – used only to clear any possible interest someone might have in the property.

Common uses – Typically, quitclaim deeds are used for lower-risk transfers between related parties. In contrast, warranty deeds are used for real estate sales and high-value transactions involving unrelated grantees.

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.

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.

Quitclaim Deeds: Quitclaim Deeds are used to transfer property ownership without any warranties regarding the title. This means the grantor isn't guaranteeing anything, even that they own the property, or that the title is clear.

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.

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

Under Utah law, a quitclaim deed only transfers whatever rights the grantor has to the property. By definition, a quitclaim deed form provides no warranty of title.Most office supply stores carry blank deed forms. The Recorder's office does not have forms of any kind and cannot make or fill out documents for you. Also called a non-warranty deed, a quitclaim deed conveys whatever interest the grantor currently has in the property, if any. Although a quitclaim deed can be used to transfer ownership of property, it is the least effective way to do so. " There are no warranties of title. Quitclaim and Warranty Deeds are the same in function they transfer property interest. A quitclaim deed conveys whatever interest the Grantor has in the property, if there really is any interest, and may not be a deed with any effect at all. The primary purpose of quitclaim deeds in Utah is to convey or edit real estate property ownership without guaranteeing a lack of liens or encumbrances.

Deed Without Warranty Vs Quitclaim Deed In Utah

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FAQ

What is the alternative to a quit claim?

What is the difference between a warranty deed and a quit claim deed in Utah?

Is a warranty deed the same as a quit claim?

Why are quitclaims generally frowned upon?

What is the strongest form of deed?

What does a non-warranty deed mean?

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

Which is better, quit claim deed or warranty deed?

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