Posted on: 01st Aug, 2007 02:18 pm
i am considering purchasing some property thru a "back taxes" auction. once i win the auction, the county would then issue a quit claim deed, giving me their ( the countys) interest in the property. how would i then go about securing a warranty (or full) deed to the property.
Hi Brad,
Quit claim and warranty deed, both serve the same purpose of transferring property ownership. As you will be getting a quit claim deed from county, it is not required to get a warranty deed as after the quit claim deed is made you will get full ownership for that property.
Quit claim and warranty deed, both serve the same purpose of transferring property ownership. As you will be getting a quit claim deed from county, it is not required to get a warranty deed as after the quit claim deed is made you will get full ownership for that property.
If you are getting the house through a quit claim deed then why you need a warranty deed after that?
Hi Brad,
A quitclaim deed and a warranty deed, both are used for transferring property. Besides transferring the title, warranty deed also guarantees that the person granting the property is the legal owner of the property prior to the transfer. Such a guarantee is not offered with a quitclaim deed.
In your case, as you would be issued a quit claim deed by the County, then there is no need of a warranty deed further for the property transfer. A quitclaim deed is sufficient for the ownership transfer.
A quitclaim deed and a warranty deed, both are used for transferring property. Besides transferring the title, warranty deed also guarantees that the person granting the property is the legal owner of the property prior to the transfer. Such a guarantee is not offered with a quitclaim deed.
In your case, as you would be issued a quit claim deed by the County, then there is no need of a warranty deed further for the property transfer. A quitclaim deed is sufficient for the ownership transfer.
You can read about warranty and quit claim deeds to know more the differences these two type of deeds have and when these are used.
Warranty deed
Quit claim deed
Warranty deed
Quit claim deed