A Quitclaim Deed is a legal instrument used to transfer interest (ownership) in real property. The Grantor is the entity who is transferring its interest to the Grantee who is the recipient. The owner or Grantor quits or terminates any right or claim to the property by signing this form.
No Title Covenant
The Quitcliam Deed includes no title covenant and offers no warranty as to the status of the property’s title. The Grantee is entitled only to whatever interest the Grantor has in the property — if any. As a result, the Grantee has no legal recourse should the Grantor not be the legitimate owner on title, or if their share of the property is less than expected.
Warrantee Deeds on the other hand often contain warranties from the Grantor that the title is clear and that there is no encumbrance against the title.
Quitclaim Deeds are most commonly used to transfer property from one family member to another or to take one family member’s name off title for the sake of a notarized loan signing. Quitclaim Deeds are not usually used to to transfer property from a buyer to a seller as Grant Deeds are a much more common form of official property transfer instrument.
How do I notarize a Quitclaim Deed? How do I get a Quitclaim Deed Notarized?
If you need a notarized Quitclaim Deed, find a Notary on 123notary.com. Any commissioned notary public can notarize this document in less than three minutes assuming you have current ID and a complete document.
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TRID information courtesy of Carmen
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