What is the difference between a quitclaim deed, and a warranty deed?
A quitclaim deed conveys only whatever interest the Grantor has in the property, without making warranties about rights that other people may have in the property. It is usually used when granting land between two people that are well acquainted, such as between divorcing spouses or family members. In contrast, a warranty deed conveys title to a grantee with a guarantee of good clear title to the property free from any interests held by other people. Warranty deeds are the traditional form of deed used in residential home sales between unrelated parties, as it provides a degree of protection to purchasers that the quitclaim deed does not offer.
Quitclaim deed Is a form of property conveyance in which any interest the seller possesses in the property described in the deed is conveyed to the buyer without warranty of title. Warranty deed Conveys to the buyer title to the property free and clear of all encumbrances, except those specifically set forth in the deed.
