Warranty Deed Insert Alternative Choice For Free

A warranty deed or quit claim deed TRANSFERS TITLE or OWNERSHIP of real property. When you purchase property, you usually receive a warranty deed from the seller to you to show that you now own the property.

Warranty Deed, also referred to as a Quitclaim Deed, is one that purports to convey only the grantor's present interest in the land being conveyed, if the grantor has any interest. There is no warranty from the grantor, but merely transfers whatever interest the grantor may have in the land described.

A North Carolina quit claim deed is a legal form used to convey real estate in North Carolina from one person to another. A quitclaim, unlike a warranty deed, does not come with a guarantee from the seller, or grantor, as to whether the grantor has clear title to the property or has the authority to sell the property.

Quitclaim Deed No warranties or promises regarding the quality of the title are made. If the grantor has a good title, the quitclaim deed is essentially as effective as a general warranty deed. However, if the title contains a defect, the grantee has no legal recourse against the grantor under the deed.

Updated . A North Carolina general warranty deed is used to legally transfer property in North Carolina from one person to another. A warranty deed comes with a guarantee from the seller that the property has clear title.

This special warranty deed is different than the general warranty deed in a major way. Here, the seller is only stating that they will protect the buyer from any title defects or claims arising during the seller's ownership, not from any point in time before the seller had ownership.

While the seller in a Warranty Deed must defend the title against all other claims and compensate the buyer for any unsettled debts or damages, the seller in a Special Warranty Deed is only responsible for debts and problems accrued or caused during his ownership of the property.

Also called a non-warranty deed, a quitclaim deed conveys whatever interest the grantor currently has in the property if any. The grantor only "remises, releases, and quitclaims" their interest in the property to the grantee. There are no warranties or promises regarding the quality of the title.