Massachusetts Disclaimer and Quitclaim of Leasehold Interest
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How to fill out Disclaimer And Quitclaim Of Leasehold Interest?
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FAQ
With a quitclaim deed, the grantor transfers its interest in the property to the grantee by terminating (or ?quitting?) any right or claim it has to the property.
The covenant of seisin, meaning that the grantor warrants they own the property and has the legal right to convey it. the covenant against encumbrances, denoting that the grantor warrants that the property is free of liens or encumbrances, except as specifically stated in the deed.
Unlike a warranty deed, the quitclaim deed only covers encumbrances made by the grantor. It does not cover any preexisting encumbrances such as easements or restrictions set forth by the municipality.
Massachusetts quitclaim deeds are distinct in that they include quitclaim covenants?which guarantee that the current owner did nothing to impair the property's title. A deed that transfers Massachusetts real estate with no warranty of title is called a release deed.
The quitclaim deed typically includes the purchase price, a description of the property, and how the buyer takes title.
In Massachusetts, a quitclaim deed is akin to a special warranty deed elsewhere. There is a $25 filing fee for new deeds in Massachusetts as well as a property transfer tax which is typically $2.28 per $500 of taxable value.
Unlike a warranty deed, the quitclaim deed only covers encumbrances made by the grantor. It does not cover any preexisting encumbrances such as easements or restrictions set forth by the municipality.
A Massachusetts quitclaim deed is the most common type of deed for real estate transfers in Massachusetts. Quitclaim deeds transfer property with a partial warranty of title?splitting the risk of unknown title problems between the current owner (the grantor or transferor) and the new owner (the grantee or transferee).
