12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Differences between Quit Claim Deeds and Warranty Deeds in Avalon, CA

Differences between Quit Claim Deeds and Warranty Deeds in Avalon, CA


Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.
 
- Franklin D. Roosevelt


A deed is a document that transfers ownership or conveys real estate from one party to another. The legal document that transfers ownership of real estate can be a warranty deed or a quitclaim deed.

How is a Deed different from a Sales Contract?

A sales contract is a promise to convey property in exchange for money. A deed is not a promise to convey, it is the conveyance itself. A deed contains a legal description of the real estate being transferred. This may include the lot the property occupies in a platted subdivision. Deeds in rural areas might use meets-and-bounds descriptions of the boundaries, which identify where the property lines are in relation to landmarks.

The deed must identify who is handing over an interest in the property (the grantor) and who is accepting it (the grantee). Most counties require the deed to have the addresses of all the parties involved.


Two Types of Deeds

The legal document that transfers ownership of real estate can be a warranty deed or a quitclaim deed.

Most real estate sales transactions use a warranty deed which states that the grantor (previous owner) is the owner of the property and has the right to transfer the property to the grantee (new owner) and that there are no liens against the property from a mortgage lender, the IRS or any creditor, and that the property can't be claimed by anyone else. Title insurance provides the financial back-up to the warranty deed and requires a title search to verify that no other claims on the property are outstanding.

A quit claim deed is a simpler and lower cost conveyance often used when a property transfers ownership without being sold. No money is involved in the transaction, no title search is done to verify ownership, and no title insurance is issued. The grantor essentially quits all claims to the property and transfers their property interest to the grantee.


When to Use a Quit Claim Deed

Quitclaim deeds are most often used to transfer property within a family. Common applications include an owner getting married and adding a spouse's name to the title, or when a couple getsd divorce and one spouse's name is removed from the title. Quit claim deeds can also be used when parents transfer property to their children, when siblings transfer property to each other, or when property is transferred to a living trust.

For a property that does not have a free and clear title, a title insurance may ask a person who may have a property interest to sign a quitclaim deedto make certain that this person doesn't make a future claim of ownership.

A quitclaim deed impacts only the ownership of the real estate and the names on the deed, not the mortgage. For example, in the case of a divorce, if both spouses' names are on the mprtgage, they are still both responsible for the loan, even if a quitclaim deed has been filed.


Filing a Quitclaim Deed

Although the rules vary by jurisdiction, but it's wise to have the deed signed by all parties in front of a notary public, copied and recorded at the county clerk's office. In general, the quit claim deed needs to include the legal description of the real estate being transferred, the date of the transfer and the names of the "grantor" and "grantee." You can check out a free preview of a quit claim deed at 1-2-Law.

 
Personalize & Print a Free CA Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Personalize & Print a Free CA Living Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Related Legal Services near Avalon, CA
Walters And Moshrefi PC
5424 N Palm Ave
Fresno, CA 93704
(559) 439-9999
Criminal Law Attorneys,  Divorce Attorneys,  Estate Planning, Probate, & Living Trusts,  Personal
Jonathan M. Rutledge
225 Bush St Suite 1600
San Francisco, CA 94104
(888) 441-9973
Attorneys, Criminal Law Attorneys, DUI & DWI Attorneys
Nick Davaei
4000 Barranca Pkwy
Irvine, CA 92604
(714) 417-9955
Immigration Law Attorneys
Sarmiento Juliette Topacio
2039 Shattuck Ave # 204
Berkeley, CA 94704
(510) 548-9944
Attorneys, General Practice Attorneys
Steinhauer Eric
1919 Addison St
Berkeley, CA 94704
(510) 843-9944
General Practice Attorneys, Attorneys
Thai Duy
351 California St # 550
San Francisco, CA 94104
(415) 296-9927
Attorneys, Legal Service Plans
Gray Law Firm
235 Montgomery St # 930
San Francisco, CA 94104
(415) 262-9926
Insurance Attorneys, Attorneys, Legal Service Plans
Herman D Papa
354 Pine St # 3
San Francisco, CA 94104
(415) 399-9922
Attorneys, Legal Service Plans
Moss Tucker Chiu Hebesha
5260 N Palm Ave
Fresno, CA 93704
(559) 472-9922
Corporation & Partnership Law Attorneys, Attorneys, Legal Service Plans
Jensen Chas Atty
1622 4th St
Santa Rosa, CA 95404
(707) 527-9911
General Practice Attorneys, Attorneys
Capron John R
400 Montgomery St
San Francisco, CA 94104
(415) 693-9901
Attorneys, General Practice Attorneys
Litigation-Tech
44 Montgomery St
San Francisco, CA 94104
(415) 291-9900
Attorneys Support & Service Bureaus, Attorneys, General Practice Attorneys
Overett Group
5150 Pacific Coast Highway
Long Beach, CA 90804
(562) 986-9864
Accident & Property Damage Attorneys, Personal Injury Law Attorneys, Attorneys
Mayra's Wedding Chapel
407 N Normandie Ave
Los Angeles, CA 90004
(323) 663-9814
Notaries Public,  Attorneys Referral & Information Service,  Wedding Chapels & Ceremonies,  Wedding
Aspelin John
220 Montgomery St # 1009
San Francisco, CA 94104
(415) 296-9812
General Practice Attorneys, Attorneys, Legal Service Plans
Tobriner Michael C Atty
115 Sansome St
San Francisco, CA 94104
(415) 981-9801
General Practice Attorneys, Attorneys
HAQ LAW FIRM
6600 Jurupa Ave
Riverside, CA 92504
(909) 234-9789
Family Law Attorneys, Divorce Attorneys, Civil Litigation & Trial Law Attorneys, Domestic Violence A
Rogers Richard
100 Bush St # 1980
San Francisco, CA 94104
(415) 981-9788
General Practice Attorneys, Attorneys
Dann Emery & Karen
1120 Carr Ave
Santa Rosa, CA 95404
(707) 527-9711
Family Law Attorneys
Divorce & Family Law
5412 N Palm Ave
Fresno, CA 93704
(559) 431-9710
Family Law Attorneys, Attorneys, Legal Service Plans
Bromberg Dennis
5740 N Palm Ave
Fresno, CA 93704
(559) 439-9700
Attorneys, Social Security & Disability Law Attorneys
Bromberg Dennis A Professional Law Corporation
5740 N Palm Ave
Fresno, CA 93704
(559) 439-9700
Attorneys, Social Security & Disability Law Attorneys
Friedman Bruce K
425 California St
San Francisco, CA 94104
(415) 395-9700
Attorneys, Estate Planning Attorneys, Legal Service Plans, General Practice Attorneys
Weinberger Mark
613 4th St Suite 201
Santa Rosa, CA 95404
(707) 546-9700
Attorneys, Employee Benefits & Worker Compensation Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US