TimeshareGuru

A word about Deeds:

I have often been asked the difference between a Quitclaim Deed and a General Warranty Deed and I would like to explain it more thoroughly to my customers. A “deed” is a document which meets certain legal requirements and has the effect of transferring ownership or some other interest in land.  A deed is used to determine “title” to land; that is, who has an ownership interest in land.  A deed offers conveyance of ownership. The title to land in any state depends upon the nature of the deeds used in the transactions affecting the land.

One of the most important differences between a Quitclaim Deed and other types of deeds is that the seller makes no guarantee or promises that the property is free of debt. Additionally, the seller makes no promises that no other party claims to own the property. The Quitclaim Deed says, in effect, that the seller is signing over whatever ownership interest he or she may have in the property and does not guarantee that the seller has any ownership interest at all.  A Quitclaim Deed is the worst form of conveyance that you can receive in real estate.  It is usually used in quitting a title to one’s property, such as a divorce to remove a former spouse, for example.

A General Warranty Deed is a deed in which the grantor warrants generally the title to the property conveyed to the grantee. That General Warranty of Title is a promise and representation by the grantor that the grantor will defend the title which the grantor conveyed to the grantee against the claims and demands of all persons whomsoever, back to the beginning of time. If anyone else (other than the grantee) comes along claiming any interest in the title conveyed, the grantor is obligated to defend the title of the grantee against any and all such claimants.

For these reasons, I would always recommend a General Warranty Deed over a Quitclaim Deed

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