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!
 
 

Definition of a Quit Claim Deed in Zip Code 36542

Definition of a Quit Claim Deed in Zip Code 36542


There have been few things in my life which have had a more genial effect on my mind than the possession of a piece of land.
 
- Harriet Martineau


A quitclaim deed is used to transfer real property from the grantor to the new recipient owner, called the grantee. The grantor will terminate any rights to claim the property using a quitclaim deed, thus allowing all rights to be transferred to the recipient/grantee.

Unlike other property deeds, a quitclaim deed contains no title covenant. It cannot offer warranty to the grantee as to the status of the property title. At the time of transfer, the grantee is entitled only to the interest the grantor possesses at that time. It means that the grantor cannot guarantee that the title of the property is free and clear at the time of transfer. It is limited to the property interest owned by the grantor at the time of the transfer, if any. Since the quit claim has no warranty and has no legal course to recover and any losses, it is possible that the grantee will receive no actual interest.

Since the grantee can only receive the interest that the grantor held at the time of transfer, should the grantor acquire the property at a later date, the grantee will not be entitled to take possession of the property. Many other types of deeds that are used for real estate sales have warranties attached to them signifying that the grantor ensures to the grantee that the title is clear or the title does not contain any encumbrance.


In divorce case, when a spouse terminates interest in the joint marital house, the quit claim deed can be used to grant the receiving spouse full rights to the property. Conversely, if a couple gets married, a quit claim deed is an inexpensive way to add the new spouse to a title, without the expense of a title search. This is an inexpensive way to transfer a property to another person quickly by executing. When this is done, the person who executes the deed eliminates his or her interest in the property by transferring the full claim to the other person.


Other uses of a quit claim deed are for tax deed sales or sheriff's deed. This is done when the property is sold in public auction to recover the outstanding tax debt of the original owner of the property. The auction is usually done by the local government that has no claims or interest in the property, only the collection of unpaid taxes, so they typically do not extend warranty to the property title. In this situation, it may be advisable for a buyer to invest in a title action to remove any clouds to the title.

Quit claim deeds are prohibited by many jurisdictions for use as collateral for a bail bond.

 
Personalize & Print a Free AL 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 AL 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 Zip Code 36542
Hornsby Bobby J
3817 Gulf Shores Pkwy # 8
Gulf Shores, AL 36542
(251) 948-9550
Chandler Walter B
172 Northshore Pl
Gulf Shores, AL 36542
(251) 968-8717
General Practice Attorneys, Attorneys
Daniel H Craven Pc
224 W 19th Ave
Gulf Shores, AL 36542
(251) 968-8170
Estate Planning Attorneys,  Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Divorce Atto
Klyce Thomas W Office
1538 Gulf Shores Pkwy
Gulf Shores, AL 36542
(251) 968-7291
General Practice Attorneys, Attorneys
Attorneys Title, Inc.
117 W 14th Ave
Gulf Shores, AL 36542
(251) 968-5541
General Practice Attorneys, Attorneys
Garner Timothy D
117 W 14th Ave
Gulf Shores, AL 36542
(251) 968-5540
Attorneys, Corporation & Partnership Law Attorneys, Business Law Attorneys, Real Estate Attorneys, G
Herbert J
224 W 19th Ave # F
Gulf Shores, AL 36542
(251) 968-4764
Attorneys, DUI & DWI Attorneys, Corporation & Partnership Law Attorneys, Business Law Attorneys, Rea
Olmstead & Olmstead
234 Office Park Dr
Gulf Shores, AL 36542
(251) 943-4000
Corporation & Partnership Law Attorneys, Civil Litigation & Trial Law Attorneys, Real Estate Attorne
Christopher A. Callaghan
2033 W 1st St Ste. 3
Gulf Shores, AL 36542
(251) 285-3425
Attorneys,  Criminal Law Attorneys,  Social Security & Disability Law Attorneys,  Accident & Propert
Bridges James E III PC
132 Cove Ave
Gulf Shores, AL 36542
(251) 968-3025
Attorneys,  Legal Service Plans,  Criminal Law Attorneys,  Tax Attorneys,  Banking & Mortgage Law At
Sawyer Al & Diane
9949 State Highway 180
Gulf Shores, AL 36542
(251) 540-2526
General Practice Attorneys
Chapman III G David
144 Cove Ave
Gulf Shores, AL 36542
(251) 968-2402
Attorneys, General Practice Attorneys
Powell IV A Riley
7107 State Highway 59
Gulf Shores, AL 36542
(251) 968-2320
Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law Attorneys,  General Practice
Harrell Whetstone & Monaghan
1703 Gulf Shores Pkwy
Gulf Shores, AL 36542
(251) 968-1555
Corporation & Partnership Law Attorneys,  Attorneys,  Family Law Attorneys,  Accident & Property Dam
Fairhope Title Services, LLC
125 Cove Ave
Gulf Shores, AL 36542
(251) 967-1026
Real Estate Attorneys, Real Estate Title Service, Title Companies
Wilson D
632 Gulf Shores Pkwy
Gulf Shores, AL 36542
(251) 968-0200
Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US