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 Kingsbury, TX

Differences between Quit Claim Deeds and Warranty Deeds in Kingsbury, TX


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 TX 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 TX 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 Kingsbury, TX
Hutchison Iii John A
1177 West Rd
Houston, TX 77038
(713) 850-9820
Attorneys
DFW Irving Dallas DWI Lawyer Rick Weaver & Associates
1431 Greenway Dr Suite 800
Irving, TX 75038
(214) 664-9435
Criminal Law Attorneys,  DUI & DWI Attorneys,  Personal Injury Law Attorneys,  Traffic Law Attorneys
Owsen John D Atty
4545 Fuller Dr Ste 200
Irving, TX 75038
(972) 719-9112
General Practice Attorneys, Attorneys
Shipp Tom
9810 Fm 1960 Bypass Rd W Ste 170
Humble, TX 77338
(281) 540-8989
Attorneys, Corporation & Partnership Law Attorneys, Civil Litigation & Trial Law Attorneys, Business
Tom Gehring
2802 Flintrock Trce
Austin, TX 78738
(713) 298-8455
Criminal Law Attorneys, Attorneys, Personal Injury Law Attorneys
BARNES LIPSCOMB & STEWART PLLC
2901 Fm 2244
Austin, TX 78738
(512) 328-8355
Wills, Trusts & Estate Planning Attorneys,  Attorneys,  Estate Planning Attorneys,  Family Law Atto
David S Kohm & Associates
5068 Plano Pkwy Apt 300
Dallas, TX 75238
(972) 447-8222
Bankruptcy Law Attorneys
Putnam Gene E
9901 Sunnywood Dr
Houston, TX 77038
(281) 999-8194
General Practice Attorneys, Attorneys, Legal Service Plans
Buzbee Lester R
116 S Avenue C
Humble, TX 77338
(281) 540-8060
Adoption Law Attorneys, Civil Litigation & Trial Law Attorneys, General Practice Attorneys
Buzbee III Lester R
116 S Avenue C
Humble, TX 77338
(281) 540-8060
Attorneys, Family Law Attorneys, Probate Law Attorneys, Civil Litigation & Trial Law Attorneys, Gene
William Broussard
11614 Fm 2244
Austin, TX 78738
(512) 263-7794
Attorneys, General Practice Attorneys
Kahn Mickey Attorney
116 S Avenue C
Humble, TX 77338
(855) 241-7747
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Wills, Trusts & Est
Nix Patterson & Roach LLP
205 Linda Dr
Daingerfield, TX 75638
(903) 645-7333
Attorneys
Lanier & Pagel LLP
116 S Avenue C
Humble, TX 77338
(281) 973-7158
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Juvenile Law Attorne
Phillips Sonny
717 1st St E
Humble, TX 77338
(281) 446-6886
Attorneys, Civil Litigation & Trial Law Attorneys, Criminal Law Attorneys
Olivas Jesus M
705 N Fabens Rd
Fabens, TX 79838
(915) 764-6771
Attorneys, General Practice Attorneys
Hillin Law
11701 Bee Cave Pkwy
Austin, TX 78738
(512) 337-6273
Personal Injury Law Attorneys, Real Estate Attorneys, Attorneys
Lloyd Gaswirth
8535 Ferndale Rd
Dallas, TX 75238
(214) 261-6193
Attorneys, Civil Litigation & Trial Law Attorneys, Business Law Attorneys, Personal Injury Law Attor
Jacob C Boswell
10874 Plano Rd
Dallas, TX 75238
(972) 613-6050
Collection Law Attorneys, Family Law Attorneys, General Practice Attorneys, Attorneys
Eichelbaum
6100 Bandera Rd Ste 407
San Antonio, TX 78238
(210) 681-5710
Attorneys
Lewis Thompson Law, PC
19747 US Hwy 59 North Suite 460
Humble, TX 77338
(832) 644-5299
Employment Discrimination Attorneys, Attorneys
Mark Swaim PC
251 O Connor Ridge Blvd Ste 210
Irving, TX 75038
(972) 717-5000
Bankruptcy Law Attorneys, General Practice Attorneys, Attorneys
Rybicky Law Offices
9603 White Rock Trl
Dallas, TX 75238
(214) 348-4700
General Practice Attorneys, Attorneys, Legal Service Plans
Scott Mackenzie PC
10935 Estate Ln
Dallas, TX 75238
(214) 245-4625
Attorneys,  Criminal Law Attorneys,  Immigration Law Attorneys,  Civil Litigation & Trial Law Attorn
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US