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.
Warranty Deed Vs Quit Claim Deed In Virginia
State:
Multi-State
Control #:
US-00186
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
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.
Quitclaim deed transfers are ideal for: transferring property interest between family members, such as a parent to a child.
A quitclaim bill of sale also presents some downsides. Because the bill of sale makes no guarantees at all, a buyer may find themselves owning property that is tied up with liens, or even property the seller didn't actually own at all.
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. Grantee risks – With a quitclaim deed, all risks remain with the grantee.
What Is the Strongest Type of Deed? For real estate buyers, a general warranty deed provides greater protection than any other type of deed. While it's the best deed for the grantee, it gives the grantor the most liability.
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. In a worst-case scenario, the buyer can sue the seller if they find out that the property had any liens or claims against it.
A general warranty deed is the most common type of warranty deed in the United States. It offers the highest level of protection to the buyer because it guarantees that there are absolutely no problems with the home – even dating back to prior property owners.
A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.
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.
More info
Warranty deeds are the safer option when buying property versus simply transferring ownership. Most buyers will want this option.A quit claim deed is a simpler and lower cost conveyance often used when a property transfers ownership without being sold. A quitclaim deed, also known as a non-warranty deed, is the most basic type of deed and offers no warranties from the seller to the buyer. 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. The distinctive feature of a Quitclaim Deed is that it offers no warranties or guarantees regarding the quality of the title being transferred. Unlike warranty deeds, quitclaim deeds offer zero buyer protection. The name quit claim deed form refers exclusively to the warranty of title providedor, in this case, not providedin the deed. The key difference between a warranty deed vs. Quitclaim deed is the level of protection offered.