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 93291

Differences between Quit Claim Deeds and Warranty Deeds in Zip Code 93291


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 CA 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 CA 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 93291
Agape Legal Process
208 W Main St Ste C
Visalia, CA 93291
(559) 741-9905
Legal Document Assistance, Attorneys, Paralegals, Divorce Assistance
Rumery Richard
1320 W Center Ave
Visalia, CA 93291
(559) 737-9900
Attorneys, Personal Injury Law Attorneys, Criminal Law Attorneys, Legal Clinics
Nathan D Ide
815 W Center Ave
Visalia, CA 93291
(559) 734-9889
Attorneys, Legal Service Plans
Hurlbutt James P Law Office
134 N Akers St
Visalia, CA 93291
(559) 738-9646
General Practice Attorneys,  Attorneys,  Estate Planning, Probate, & Living Trusts,  Business Law
Wisehart Law
2330 W Main St
Visalia, CA 93291
(559) 636-9473
Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law Attorneys,  Criminal Law Atto
Kenn A. Bovetti
204 N Floral St Ste B
Visalia, CA 93291
(559) 732-9227
Attorneys, Legal Service Plans
Jordan Iii, Ralph B - Williams Jordan & Brodersen
2222 W Main St
Visalia, CA 93291
(559) 635-9000
Personal Injury Law Attorneys, Civil Litigation & Trial Law Attorneys, Attorneys
Brodersen Thomas C
2222 W Main St
Visalia, CA 93291
(559) 635-9000
Attorneys, Attorneys Referral & Information Service, General Practice Attorneys, Legal Service Plans
Brodersen Thomas C
2222 W Main St
Visalia, CA 93291
(559) 635-9000
Attorneys,  Attorneys Referral & Information Service,  General Practice Attorneys,  Legal Service Pl
Williams Steven R
2222 W Main St
Visalia, CA 93291
(559) 635-9000
Attorneys Referral & Information Service, Attorneys
Adalian Law Office
5501 W Hillsdale Ave Suite C
Visalia, CA 93291
(559) 733-8990
Attorneys,  Bankruptcy Services,  Business Bankruptcy Law Attorneys,  Bankruptcy Law Attorneys,  Fin
Linda O'Hara Paralegal
2929 W Main St # H
Visalia, CA 93291
(559) 734-8920
Paralegals, Legal Document Assistance
Alvarez M Richard
115 S Church St
Visalia, CA 93291
(559) 622-8801
Attorneys, General Practice Attorneys
Central California Legal SVC
208 W Main St # U1
Visalia, CA 93291
(559) 733-8770
Divorce Attorneys, Family Law Attorneys, Attorneys
Bianco Law Firm
118 E Oak Ave
Visalia, CA 93291
(559) 732-8654
Bankruptcy Law Attorneys,  Accident & Property Damage Attorneys,  Attorneys,  Criminal Law Attorneys
Yahnian Law Corporation
3130 W Main St
Visalia, CA 93291
(559) 733-8505
Accountants-Certified Public,  Probate Law Attorneys,  Business Law Attorneys,  Attorneys,  Tax Atto
Degn Thomas W
1110 N Chinowth St
Visalia, CA 93291
(559) 429-8436
Personal Injury Law Attorneys, Attorneys, Criminal Law Attorneys
Tiffany A Smith-Henson
1102 W Main St
Visalia, CA 93291
(559) 625-8433
Attorneys, General Practice Attorneys
Bourdette & Partners
2924 W Main St
Visalia, CA 93291
(559) 625-8425
Attorneys,  Legal Service Plans,  Family Law Attorneys,  Labor & Employment Law Attorneys,  Divorce
Furtado's Legal Typing Service
7449 Ave 304
Visalia, CA 93291
(559) 802-8156
Paralegals, Legal Document Assistance, Divorce Assistance, Legal Forms
Lyons & Lyons Bankruptcy Attorneys
1010 W Main St
Visalia, CA 93291
(559) 636-8122
Bankruptcy Services,  Bankruptcy Law Attorneys,  Attorneys,  General Practice Attorneys
Rogers Mary L
1809 W Main St # D
Visalia, CA 93291
(559) 734-8000
Attorneys,  Wrongful Death Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law At
Debbie's Legal Typing Svc
200 S Mooney Blvd
Visalia, CA 93291
(559) 734-7704
Paralegals, Fingerprinting
Hurley Russell F
403 N Floral St
Visalia, CA 93291
(559) 739-7200
General Practice Attorneys, Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US