12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Differences between Quit Claim Deeds and Warranty Deeds in Zip Code 86401

Differences between Quit Claim Deeds and Warranty Deeds in Zip Code 86401


Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.
 
- Franklin D. Roosevelt


A deed is a document that transfers ownership or conveys real estate from one party to another. The legal document that transfers ownership of real estate can be a warranty deed or a quitclaim deed.

How is a Deed different from a Sales Contract?

A sales contract is a promise to convey property in exchange for money. A deed is not a promise to convey, it is the conveyance itself. A deed contains a legal description of the real estate being transferred. This may include the lot the property occupies in a platted subdivision. Deeds in rural areas might use meets-and-bounds descriptions of the boundaries, which identify where the property lines are in relation to landmarks.

The deed must identify who is handing over an interest in the property (the grantor) and who is accepting it (the grantee). Most counties require the deed to have the addresses of all the parties involved.


Two Types of Deeds

The legal document that transfers ownership of real estate can be a warranty deed or a quitclaim deed.

Most real estate sales transactions use a warranty deed which states that the grantor (previous owner) is the owner of the property and has the right to transfer the property to the grantee (new owner) and that there are no liens against the property from a mortgage lender, the IRS or any creditor, and that the property can't be claimed by anyone else. Title insurance provides the financial back-up to the warranty deed and requires a title search to verify that no other claims on the property are outstanding.

A quit claim deed is a simpler and lower cost conveyance often used when a property transfers ownership without being sold. No money is involved in the transaction, no title search is done to verify ownership, and no title insurance is issued. The grantor essentially quits all claims to the property and transfers their property interest to the grantee.


When to Use a Quit Claim Deed

Quitclaim deeds are most often used to transfer property within a family. Common applications include an owner getting married and adding a spouse's name to the title, or when a couple getsd divorce and one spouse's name is removed from the title. Quit claim deeds can also be used when parents transfer property to their children, when siblings transfer property to each other, or when property is transferred to a Living Trust.

For a property that does not have a free and clear title, a title insurance may ask a person who may have a property interest to sign a quitclaim deedto make certain that this person doesn't make a future claim of ownership.

A quitclaim deed impacts only the ownership of the real estate and the names on the deed, not the mortgage. For example, in the case of a divorce, if both spouses' names are on the mprtgage, they are still both responsible for the loan, even if a quitclaim deed has been filed.


Filing a Quitclaim Deed

Although the rules vary by jurisdiction, but it's wise to have the deed signed by all parties in front of a notary public, copied and recorded at the county clerk's office. In general, the quit claim deed needs to include the legal description of the real estate being transferred, the date of the transfer and the names of the "grantor" and "grantee." You can check out a free preview of a quit claim deed at 1-2-Law.

 
Personalize & Print a Free AZ Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Personalize & Print a Free AZ Living Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Related Legal Services near Zip Code 86401
Wickland J Scott
1921 Motor Ave Unit A
Kingman, AZ 86401
(928) 718-8888
Personal Injury Law Attorneys, Attorneys
E C Sears Law Offices
3225 Kiersten Ave
Kingman, AZ 86401
(928) 753-7100
Attorneys
Shawn B Hamp Law Offices Pc
400 E Andy Devine Ave
Kingman, AZ 86401
(928) 753-6868
Divorce Attorneys, Attorneys, Criminal Law Attorneys, Family Law Attorneys
Shawn B Hamp PC The
310 E Oak St
Kingman, AZ 86401
(928) 753-6868
Criminal Law Attorneys,  Divorce Attorneys,  DUI & DWI Attorneys,  Family Law Attorneys,  Traffic La
Levenbaum & Cohen
2601 N Stockton Hill Rd
Kingman, AZ 86401
(928) 753-6352
Attorneys
Bruno Lee E
730 E Beale St
Kingman, AZ 86401
(928) 753-6115
Attorneys, Probate Law Attorneys, Wills, Trusts & Estate Planning Attorneys, Corporation & Partnersh
Goldberg Jeffrey A
730 E Beale St
Kingman, AZ 86401
(928) 753-6115
Attorneys,  Probate Law Attorneys,  Wills, Trusts & Estate Planning Attorneys,  Corporation & Partn
Engan Eric J
400 E Andy Devine Ave
Kingman, AZ 86401
(928) 718-6006
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Divorce Attorneys,  DUI & DWI Attorneys
Sutherland Law Firm
722 E Beale St
Kingman, AZ 86401
(928) 753-6000
Attorneys
Mohave County Paralegal Svc
407 E Beale St
Kingman, AZ 86401
(928) 692-5535
Paralegals
Lee Stephen M
2001 N Stockton Hill Rd Ste B
Kingman, AZ 86401
(928) 753-5363
Business Law Attorneys,  Attorneys,  Wills, Trusts & Estate Planning Attorneys,  Corporation & Part
Phillips & Lyon
1916 Lucille Ave # B
Kingman, AZ 86401
(928) 753-5297
Attorneys,  Accident & Property Damage Attorneys,  Legal Service Plans,  Personal Injury Law Attorne
Whitney & Whitney P
2116 N Stockton Hill Rd Ste B
Kingman, AZ 86401
(928) 753-5295
Attorneys
Michael Reddig
820 E Beale St
Kingman, AZ 86401
(800) 752-3344
General Practice Attorneys, Attorneys, Legal Service Plans
Sipe Jr Billy K
2606 N Stockton Hill Rd Ste B
Kingman, AZ 86401
(928) 718-3333
Attorneys,  Criminal Law Attorneys,  General Practice Attorneys,  Legal Service Plans
Sippel Law Firm PLLC
707 E Beale St
Kingman, AZ 86401
(928) 753-2889
Attorneys,  Family Law Attorneys,  Wills, Trusts & Estate Planning Attorneys,  Real Estate Attorney
Wisniewski Robert E
2601 N Stockton Hill Rd
Kingman, AZ 86401
(928) 753-2300
Attorneys, Legal Service Plans
LACY LAW PLLC, Attorney-at-Law
2116 N. Stockton Hill Rd., #G
Kingman, AZ 86401
(928) 718-2211
Attorneys
Porter William C
1212 E Andy Devine Ave # 101
Kingman, AZ 86401
(928) 753-2183
Criminal Law Attorneys, Attorneys, Legal Service Plans
Penn William
519 Hall St
Kingman, AZ 86401
(928) 753-1830
Social Security & Disability Law Attorneys,  Insurance Attorneys,  Personal Injury Law Attorneys,  A
Novak Lee
212 N 4th St Ste 2
Kingman, AZ 86401
(928) 718-1700
Attorneys,  Criminal Law Attorneys,  Domestic Violence Attorneys,  Drug Charges Attorneys
Kirkland William
2195 Pawnee Dr
Kingman, AZ 86401
(928) 753-1693
Attorneys
Thomas E Price PC
501 E Oak St
Kingman, AZ 86401
(928) 753-1112
Attorneys
Knochel Law Offices, P.C.
2815 E Andy Devine Ave
Kingman, AZ 86401
(928) 444-1000
Attorneys, Criminal Law Attorneys, Family Law Attorneys, Personal Injury Law Attorneys, Legal Servic
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US