How Is A Quit Claim Deed Different From A Warranty Deed? in Quitclaim Deed

Deeds are legal documents that transfer title to real property. There are two types of deeds; quitclaim deeds and warranties.

A quit claim deed form in Arizona is often used for property title transfer. The need for Quit Claim Deed is that if someone wants to sell their property they have to give the seller the right to buy back the property at any time before the sale goes through. If the buyer does not want to buy the property then he/she cannot force them to do so. Read and find out how it varies from a warranty deed.

Difference between a Quit Claim Deed and a Warranty Deed

There are quite a few differences existing between these two types of deeds.

A quit claim deed is a type of legal document that transfers title to real property. It does not require any consideration. A quit claim deed is commonly used when selling land that is owned by someone else.

A warranty deed is a legal document that transfers title of real property. It requires the seller to warrant that they own the property free of encumbrances. If the property cannot be sold due to liens, then the seller is responsible for paying off those debts.

A quit claim deed only requires the seller to warrant the property is clear of liens and encumbrances. It is possible to get a template of this type of document from websites that have free legal forms on offer for download, so that they can be tailored in order to make it suitable for your particular needs. This type of a deed is often used when selling real estate, but it can also be used to transfer ownership of personal property. In order to execute a quit claim deed, both parties must agree to its terms. If one party does not agree to the terms, then they cannot sign the document.

A warranty deed requires the seller to warrant they own the property free and clear of liens and mortgages. A quit claim deed is a legal document that transfers ownership of property from one person to another.

Author Bio

Carl writes often about online legal drafting like affidavit, bill of sale and quitclaim deed forms to help the people.

Last updated August 17, 2022