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 Zip Code 66213

Differences between Quit Claim Deeds and Warranty Deeds in Zip Code 66213


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 KS 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 KS 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 66213
Rappard Gary D
12980 Foster St
Overland Park, KS 66213
(913) 888-9700
Attorneys, Legal Service Plans, Labor & Employment Law Attorneys
Cowell Law Firm
7450 W 130th St Ste 205
Overland Park, KS 66213
(913) 469-8777
Attorneys, General Practice Attorneys, Legal Service Plans
Warmund Stephanie
13160 Foster St # 702
Overland Park, KS 66213
(913) 814-8704
Attorneys, Legal Service Plans
The Dickerson Law Firm, LLC
7248 W 121st St
Overland Park, KS 66213
(913) 428-8220
Attorneys, General Practice Attorneys, Legal Service Plans
The Jones Law Firm PA
12980 Metcalf Ave Suite 200
Overland Park, KS 66213
(913) 322-7200
Attorneys,  General Practice Attorneys,  Legal Service Plans,  Criminal Law Attorneys,  Family Law A
Hanson Law Offices
7465 W 132nd St
Overland Park, KS 66213
(913) 685-7000
General Practice Attorneys, Attorneys
Iles, Kenneth W
9903 W 129th St
Overland Park, KS 66213
(913) 897-6738
Patent, Trademark & Copyright Law Attorneys,  Patent Searchers,  Business Law Attorneys,  Patent Ag
Murphy Mark D
7400 W 130th St # 130
Overland Park, KS 66213
(913) 851-6484
Attorneys
Caldwell & Moll Lc
11903 W 119th St
Overland Park, KS 66213
(913) 451-6444
General Practice Attorneys, Attorneys
Yeretsky & Maher Law Firm
7200 W 132nd St
Overland Park, KS 66213
(913) 897-5813
Attorneys, General Practice Attorneys
Lerner Mick
13200 Metcalf Ave # 220
Overland Park, KS 66213
(913) 897-5050
Attorneys, Legal Service Plans
Littler Mendelson PC
7381 W 133rd St # 213
Overland Park, KS 66213
(913) 814-3888
Attorneys
Italian Vice Consulate
13220 Metcalf, Suite 320
Overland Park, KS 66213
(816) 374-3350
Consulates & Other Foreign Government Representatives,  Attorneys,  Governmental Offices-Foreign Rep
Paul D. Cramm
7450 W 130th St Ste 305
Overland Park, KS 66213
(913) 322-3265
Attorneys, DUI & DWI Attorneys, Criminal Law Attorneys
Brenton Law Group
13232 Craig St
Overland Park, KS 66213
(913) 491-2900
Attorneys, Legal Service Plans
Shook Hardy & Bacon LLP
12851 Foster St
Overland Park, KS 66213
(913) 897-2837
Attorneys
Ferguson & Assoc
11600 W 127th Ter
Overland Park, KS 66213
(913) 897-1500
Attorneys
Eric Pfanstiel
12980 Metcalf Ave Suite 180
Overland Park, KS 66213
(913) 341-1100
Attorneys, Legal Service Plans
Utz Miller & Eickman
7285 W 132nd St
Overland Park, KS 66213
(913) 685-0970
Attorneys, Legal Service Plans
Dellett, Kevin E - Kevin E Dellett, Chartered
13200 Metcalf Ave., Ste. 220
Overland Park, KS 66213
(913) 897-0897
Attorneys
Mark Rudoff
12980 Metcalf Ave Ste 180
Overland Park, KS 66213
(913) 814-0719
General Practice Attorneys, Attorneys, Legal Service Plans
Gilmore Lori L
12509 Benson St
Overland Park, KS 66213
(913) 661-0303
Attorneys
J Walter Thompson
13200 Metcalf Ave
Overland Park, KS 66213
(913) 851-0172
Attorneys, Legal Service Plans
Frischer & Schaffer
12980 Foster St
Overland Park, KS 66213
(913) 345-0100
Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US