This form is a Quitclaim Deed where the Grantor is a trust and the Grantee is a trust. Grantor conveys and quitclaims the described property to Grantee. This deed complies with all state statutory laws.
A Memphis Tennessee Quitclaim Deed is a legal document used to transfer ownership or interest in a real property within Memphis, Tennessee. It is a type of deed commonly used when the transfer of property is between parties who are already familiar with each other and the property, such as family members, divorcing spouses, or business partners. A Quitclaim Deed is used to transfer whatever interest the granter (current owner) has in the property to the grantee (new owner), without making any guarantees or warranties about the title or ownership. This means that the granter is not legally obligated to ensure that there are no other claims or liens against the property. Unlike a Warranty Deed, a Quitclaim Deed does not offer any protection to the grantee in case of any future claims or disputes. In Memphis, Tennessee, there might be various types of Quitclaim Deeds available, depending on the specific circumstances and intentions of the parties involved. Some of these types may include: 1. Regular Quitclaim Deed: This is the most common type of Quitclaim Deed used in Memphis, Tennessee. It simply transfers the interest in the property from the granter to the grantee without making any warranties or guarantees. 2. Quitclaim Deed with Covenants: This type of Quitclaim Deed includes certain agreed-upon covenants or promises made by the granter. These covenants could include assurances that the granter has the legal right to transfer the property, that no other individuals or entities have a claim on the property, or that the property is free from liens or encumbrances. 3. Boundary Quitclaim Deed: This type of Quitclaim Deed is used when the transfer of property involves a dispute or discrepancy regarding the boundaries of the land. It is typically used to resolve disagreements between neighbors or to establish or adjust property lines. It is important for both the granter and the grantee to consult with an attorney or real estate professional to understand the implications and potential risks associated with a Quitclaim Deed. Additionally, a thorough title search should be conducted to uncover any potential issues or claims on the property before executing the deed.
