5 Important Facts About Quitclaim Deeds for Real Property Transfers | Think Realty | A Real Estate of Mind

Abstract

What should you do in this case? Should you take it or not? What things do you need to consider before making a decision? Before you accept or reject it, you need to know what quitclaim deeds are and five important facts about quitclaim deeds for real property transfers. What Are Quitclaim Deeds? A quitclaim deed is a legal document that is often used for non-monetary transfer of real estate properties and is done between family members or a trust. If you're a real estate investor in California, Florida, Georgia, or Texas, and are looking for a quitclaim deed form in Georgia, for example, then you should know these five facts about quitclaim deeds for real property transfers. 5 Important Facts About Quitclaim Deeds Before you offer someone a quitclaim deed or you accept someone else's offer of the deed, you should consider these five facts discussed below. You Can Clear a Title Defect with a Quitclaim Deed If you have a defect in the title, say a spelling error, then you can use a quitclaim deed to correct it. The Title Has to Be Good Enough A quitclaim deed can provide the protection of a warranty deed only if the title is good and has no error in it. Conclusion Transferring properties can be complicated, especially if you're not clear about what you should do, which deed to use, and you don't have much idea about the deeds you're dealing with.