Quitclaim Vs Warrantee Deeds – A Simple Overview

By Author: Carl Glendon
Total Articles: 177
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Quitclaim and warrantee deeds have their share of advantages and disadvantages that need to be taken into account before proceeding with either. Here is a quick glimpse into both that can help property owners or recipients of the same, make informed approach...

WHAT IS QUITCLAIM?

Quitclaim, especially quitclaim deed in Arizona, is basically used to transfer ownership rights of a property from one individual (the owner) to the other (mainly, heirs). The primary inclusions in the deed are...

• Name and identification of the owners of the property
• Name and identification of the recipients of the property
• Description of the property

Quitclaim deeds come into effect under an array of situations like death of the owner followed by passing on the property to an heir; addition or removal of name of spouse followed by marriage or divorce; transferring property to a trust etc.

Quitclaim deeds in Arizona or any other state for that matter is backed with a few core advantages that cannot be denied. Absolute simplicity in the process with minimum and cheap paperwork are two of the main benefits to mention.

On the flipside though, quitclaim deeds are not backed with any kind of warrantee. This basically means that the document does not guarantee that the owner is actually the rightful owner or, the property / asset is free of liabilities like mortgage claims, unpaid taxes etc.

If a certain individual faces the mentioned issues unknowingly, after acquiring property through quitclaim, there is no way, the latter can claim damages or legally charge the owner. For more information about getting a quitclaim deed form in Washington DC, please visit this website.

WARRANTEE DEEDS –

Disadvantages of quitclaim can be nullified by using warrantee deed forms instead. This is basically a legal document that offers guarantees on core matters surrounding the property, ownership and transfer. Warrantee deeds usually make 4 essential guarantees that state...

• Rightful ownership of the property
• Complete / verified description of the property
• Absence of outstanding claims on the property
• Absence of contesting claimants to the property

Warrantee deeds forms are usually recommended over quitclaim for the simple reason that it is backed by the law and any breach in guarantees can be contested in court.

Author Resource:

Carl writes often about online legal drafting like affidavit, bill of sale and quitclaim deed forms to help the people. You can find his thoughts at general warranty deeds blog. For more information about getting a quitclaim deed form in Arizona, please visit here.