Quitclaim Deed Template
Deeds are generally the legal instruments that are used for transferring the real estate. Basically, deeds are of three types which are the special warranty deeds, general warranty deeds, and quitclaim deeds. People must encounter some sort of deeds at some stage of their life.
The quitclaim deed is used in the transfer of real estate from the grantor to the grantee. There are various forms hence, it is used by the people for transferring their property to their family member. You can get the freedom to transfer real estate between siblings, between parent and children or between other close members of the family by using the quit claim deed.
This type of deed is used for a number of reasons such as for securing the real estate, ensuring the optimum protection by transferring their property to a business and filing bankruptcy. In addition to this, it proves to be beneficial in removing or adding spouse from the title.
Quitclaim deed comprises of various elements which involve title, executed date, grantor detail, grantee detail, consideration, legal description and signature of both the parties. The persons who are listed on this legal document should get a copy of this deed while original document is meant to be recorded. The other two kinds of the deeds provide the warranty to the grantee while the quitclaim deed does not include any warranty. The grantor simply delivers ownership to the grantee through this deed. He does not receive any assurance from the grantor.
The question arises why should one receive the real estate from the grantor when no assurance or warranty is granted to him? Just because the seller is not providing the warranty does not mean that the grantee should not accept this deed. There are several circumstances when grantee does not care about the warranty. It is beneficial when the parties have strong trust on each other like in case of transferring real estate between business subsidiaries or family members. Perhaps one may wish to put their real estate into a trust. Likewise, it is useful to use quit claim deed while diving the real estate after divorce.
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