![]() If the transferor has no interest in the property when signing a quitclaim deed but acquires an interest later, the transferor keeps the interest obtained after the transfer. The transferee has no right to any interest that the transferor acquires later. A quitclaim deed transfers only whatever interest the transferor has in the property when the deed is signed and delivered. The transferee cannot sue for breach of warranty if there are problems with the property’s title because a quitclaim deed gives no warranty.Ī quitclaim deed’s lack of warranty is what distinguishes it from two other California deed forms: grant deeds and warranty deeds.Īttorney Practice Note: Quitclaim deeds also differ from other California deed forms in not conveying after-acquired title. If the transferor has no interest in the property, the transferee takes nothing through a quitclaim deed. How do California Quitclaim Deed Forms Relate to Other Forms of Deeds?Ī California quitclaim deed transfers property without guarantees, placing the risk of title problems on the new owner. Title insurance companies in California accept quitclaim deeds, so California has no deed without warranty form. ![]() In those other states, a deed without warranty (also called a no warranty deed) often substitutes for a quitclaim deed. Title insurers in a few states-including Texas-disfavor quitclaim deeds. Quitclaim deeds are valid and commonly used in California. There is no such thing as a quick claim deed. ![]() Some people mistakenly use the term quick claim deed when referring to a quitclaim deed. Quitclaim or quit claim can also be verbs-as in, Abe quitclaims the property to Ben. Other Names for a California Quitclaim Deed FormĪ quitclaim deed is sometimes called a quit claim deed. These two terms are interchangeable. The transferor gets whatever interest the transferor holds without assurance that the transferor has an interest. A quitclaim deed is effectively an “as-is” transfer. Because there is no warranty of title, a quitclaim deed gives the transferee no legal right to hold the transferor responsible for title problems. The defining trait of quitclaim deeds is their lack of any warranty of title. How Does Warranty of Title Work with California Quitclaim Deeds? Warranty of title protects the transferee from the financial loss title problems can cause. Title problems can decrease a property’s value or make it hard to sell, and legal action may be needed to address a problem. A transferee who receives a deed with a warranty of title can sue the transferor if a title problem surfaces. A transferor who provides a warranty of title agrees to be legally responsible if a title problem arises. The transferor gives the warranty to the transferee when signing some types of deeds. What is Warranty of Title?Ī warranty of title is a legal guarantee that there are no problems with a property’s title. For that reason, quitclaim deeds are often used when a deed involves no consideration-or payment or other value given in exchange for a transfer. The person who receives property by quitclaim deed (the transferee or grantee) receives whatever interest the transferor has, but no more.Ī quitclaim deed does not come with a warranty of title, so the transferee is not guaranteed to receive legal ownership of the property. A person who transfers property by quitclaim deed (the transferor or grantor) does not promise that he or she has clear title or actually owns the property. What is a California Quitclaim Deed Form?Ī California quitclaim deed form is a special type of deed that transfers real estate without guarantees about the property’s title. Just complete a user-friendly interview and get a customized deed that is attorney-designed to meet California recording requirements. Our deed creation software makes it easy. Need to create a California quitclaim deed?
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |