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Authority to Release of Deed of Trust

Warranty Deed Vs Quitclaim Deed Form California In Virginia

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

Va. Code § 55.1-363 lays out the specific terminology that quitclaim deeds should use to be clear and legally binding. The document should state that the grantor has or does “remise(d), release(d), and forever quit(ted)claim all his claims upon the said lands to 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.

The way a quitclaim deed works is that this type of transfer makes no seller guarantees. It merely states that the seller transfers any ownership interest to the buyer. So if the seller has absolutely no ownership interest in the property, that's precisely what transfers in a quitclaim deed to any buyer.

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.

Now if gina sells the property. She can give her buyer a warranty deed. But i wouldn't advise thatMoreNow if gina sells the property. She can give her buyer a warranty deed. But i wouldn't advise that you'd want to convey the property via another quit claim deed.

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Warranty deeds are the safer option when buying property versus simply transferring ownership. Most buyers will want this option.The key difference between a warranty deed vs. Quitclaim deed is the level of protection offered. Unlike warranty deeds, quitclaim deeds offer zero buyer protection. 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. Quitclaim and Warranty Deeds are the same in function they transfer property interest. A Virginia special warranty deed form transfers Virginia real estate from the current owner (grantor) to the new owner (grantee) with a warranty of title. A quitclaim deed, in contrast, contains no guarantees about the quality of the title or owner. A quit claim deed is a simpler and lower cost conveyance often used when a property transfers ownership without being sold.

Warranty Deed Vs Quitclaim Deed Form California In Virginia

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FAQ

Are quitclaim deeds legal in Virginia?

What is the statute of quitclaim deeds in Virginia?

Which is better, quit claim deed or warranty deed?

How does a quit claim deed work in Virginia?

What is the strongest form of deed?

Which is better quit claim deed or warranty deed?

Can I turn a quitclaim deed into a warranty deed?

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