what is the difference between warranty deed and quitclaim

leayudo · Joined: 27 Jan 2009 Posts: 2 1.59 Dollars($)

What is the difference between a warranty deed and a quitclaim?

jerry · Posted: Wed Jan 28, 2009 3:08 am Post subject:

Hi leayudo,

A warranty deed is used convey the title from a grantor to the grantee and is also the proof of the fact that you hold the title free and clear. To know more about warranty deed, check out the following link:
http://www.mortgagefit.com/warranty-deed.html

Quit claim deed is a legal document used to transfer your share of interest in the property to another person. To know more about quitclaim deed, check out the following link:
http://www.mortgagefit.com/quitclaim-deed.html

Thanks,

Jerry

gmakerley · Posted: Wed Jan 28, 2009 10:09 am Post subject:

leayudo, in using a warranty deed, you warrant to the buyer that you are in fact the owner of the property, and that you are conveying clear title to that buyer.

with a quit claim deed, you need not actually own a property to use it. in practice, what you are deeding to the buyer is whatever interest you may have in a property. if that interest is zero, then that's what you're conveying. i know this sounds weird, but it's true.

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