{"id":2574,"date":"2022-11-07T06:36:46","date_gmt":"2022-11-07T11:36:46","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=2574"},"modified":"2024-04-25T23:18:12","modified_gmt":"2024-04-26T03:18:12","slug":"using-a-quitclaim-deed-what-are-the-drawbacks","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/using-a-quitclaim-deed-what-are-the-drawbacks\/","title":{"rendered":"Using a Quitclaim Deed: What Are the Drawbacks?"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

A quitclaim deed<\/a> is a simple form that transfers a piece of real estate from one person to another. Any homeowner can fill out a quitclaim deed with their name and the name of the recipient, and the property\u2019s existing legal description<\/a>, sign it in front of a notary and record the document. That effectively and quickly passes a property on. No wonder these forms mistakenly get called \u201cquick claim\u201d deeds.<\/p>\n\n\n\n

Yet quitclaims are not a good pick for most property conveyances. Read on to learn more.<\/p>\n\n\n\n\n\n\n\n

Filling Out a Quitclaim Deed Isn\u2019t Proof of Ownership.<\/h2>\n\n\n\n

A notary and a county recorder do not prove a transfer is valid. These officials do not verify that the person quitclaiming property really owns it. That\u2019s why the simplicity of a quitclaim can be a pitfall.<\/p>\n\n\n\n

Unlike a warranty deed<\/a>, a quitclaim makes no guarantees about what is being transferred. This is the key concern with a quitclaim.<\/p>\n\n\n\n

Because a quitclaim isn\u2019t a promise that the transferor owns the property or a share in the property, it is not useful for most regular transactions.<\/p>\n\n\n\n

A Quitclaim Carries No Promise of Clear Title.<\/h2>\n\n\n\n

In contrast to a warranty deed, a quitclaim needs no title search. This means the person on the receiving end of a quitclaim deed gets no assurances that the transferor holds the property free and clear. <\/p>\n\n\n\n

The quitclaim deed does not cancel out any other claims others might have. So, a buyer who gets a quitclaim with no warranty (which could happen in a tax sale, for example), is taking the risk of accepting a defective title.   <\/p>\n\n\n\n

Buying a home in a regular, arms-length transaction? A warranty deed is standard, and it\u2019s the least risky for a new homeowner. A quitclaim, by itself, does nothing to resolve any liens that might burden the property.<\/p>\n\n\n\n

Quitclaims Can Be Too<\/em> Easy to Use.<\/h2>\n\n\n\n

Scammers like quitclaims<\/a> because they can be filled in and recorded without any title examiner looking for issues.<\/p>\n\n\n\n

It can be easy to:<\/p>\n\n\n\n