Looking for a quit claim deed form? A quit claim deed form may not be what you need. But before you decide, it is a good idea to understand the different types of deeds out there. Quit claim deeds (or a quit claim deed form) are NOT used for real estate sales. Filing out a quit claim deed form might be easy, but it will NOT guarantee title.
You will generally come across three (3) types of main deeds when in comes to the sale of the real property.
- Warranty Deeds
- Special Warranty Deeds
- Quit Claim Deeds
Warranty Deeds and Quit claim deeds are the most commonly used, BUT each is used for DIFFERENT reasons.
A warranty deed guarantees against particular defects to the title alongside transferring title to the property. The most important part of the warranty deed is that it is proof that the one selling the property actually holds true title. Because if the seller does not possess true title, he/she cannot guarantee the new buyer anything! Not to mention you as the buyer can be at ease because you know the condition of the property before the sale, such as any and all liens or encumbrances.
Filing out a quit claim deed form, will NOT ensure any such guarantees! A quit claim deed will ONLY convey the interest the GRANTOR holds at that specific time. Meaning, if the one selling you the property conveys the property via quit claim deed, you will only be transferred whatever rights that seller has at that time. A quit claim deed therefore, is not a reliable tool to establish true title on its own.
In essence, a warranty deed will guarantee the title being granted is valid while a quit claim deed does NOT guarantee the validity of title. You, as the buyer, cannot be confident as to the condition or quality of the title being purchased.
The most common situation a quit claim deed should be utilized is when you are NOT conducting a traditional sale.
Common situations a quit claim deed can be used:
- If a parent wants to transfer their home to their children
- When newly-weds want to include the other spouse in their separate property
- When spouses are in the middle of divorce proceedings and one spouse will keep the home
- When a transfer is being made into a living will
- If you suspect there could be an issue with another potentially having ownership right in the property, a quit claim deed can be used to assure complete title for the new buyer
Simply put, yes, a quit claim deed is fast and easy because it does not require a title search or title insurance. BUT remember, it will NOT guarantee you title and you may encounter issues down the line with folks who can challenge your title because turns out, they have valid interest in the property as well. Don’t be mistaken, quit claim deeds are considered valid, however, in Texas, they are highly unreliable when used to transfer title to real property. Essentially, they could be transferring absolutely nothing!
If you are unsure as to the kind of deed you need, contact one of our experienced attorneys at Guerra | Days Law Group. We will make sure to provide you with the best possible solution available. Call us today and have your title guaranteed.