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Need a Notary to Notarize

Quitclaim Deed

$155

A quitclaim deed, a legal document with a specific purpose in real estate transactions, is used to transfer ownership of a property. However, it operates with some distinct differences from a standard deed. Let's delve into these differences:

  • Function: It transfers ownership interest in a property from one party (grantor) to another (grantee).

  • Key Feature: Unlike a warranty deed, a quitclaim deed offers no guarantee that the grantor actually has a legitimate claim to the property. The grantee receives the ownership "as is".

  • Use Cases: Due to the lack of guarantees, quitclaim deeds are common in situations with high trust, like:

    • Between family members: Transferring a property to a spouse, child, or other relative.

    • Correcting ownership issues: Fixing errors in titles where ownership might be unclear.

In essence, a quitclaim deed says "I'm giving up any claim I have to this property", without guaranteeing the validity of that claim. This makes it a faster and simpler option for trusted transfers, but not suitable for situations where ownership needs to be assured.

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