What is a quitclaim deed?

Notwithstanding any statory formalities required for purposes of recording in the public records, in theory, any writing in which an owner intends to transfer propery that is adquatedly described and delivered to the transferee may function as a deed. However, in practice, you will find there are generally three broad categories of deeds mostly used to convey property in Georgia, depending on certain warranties, or the lack thereof, contained therein. These categorizes include warranty deeds, limited warranty deeds, and quitclaim deeds. In a warranty or general warranty deed, the grantor generally warrants title, and promises to defend the grantee against third party title claims that either arose, or which are based on events occuring at anytime during the grantor's ownership of property OR the ownership of any of the grantor's predecessors in title. In a limited warranty deed, a grantor generally only warrants and promises to defend the grantee against title claims which arose, or which are based on events occuring during the grantor's ownership. A quitclaim deed generally contains no warranties. Therefore, the grantee or transferee of a quitclaim deed has little to no recourse against the grantor if there is an issue with the title to the property based on the deed alone. Generally, in circumstances where there is a transfer of family property, between family members, in which no money is being exchanged, a quitclaim deed is fine. However, there may be certain tax consequences if the family member were to later resale the property. He/she may want to consult a tax professional prior to do so.

In theory, any writing in which an owner intends to transfer propery that is adquatedly described and delivered to the transferee is enforcable against the GRANTOR. Thus, a quitclaim deed is generally a valid deed, provided that it has been executed with the requiste formalities for purposes of recording in the public records, and adequetly describes the property. Generally, the term "quitclaim" simply signifies the the grantor does not promise to defend the grantee against any third party title claims. To be properly executed, the deed generally must be executed by the grantor in the presence of the notary, notarized, and signed by the notary and one additional witness. Without meeting these requirements, the deed may not be accepted for recordation in the property records, which also makes the deed "enforceable" against third parties, because it service as notice to those who do not have a previously recorded interest in the property of the grantee's title. In sum, a deed, including a quitclaim deed is generally enforceable against the grantor, but must be executed with the above formalities AND recorded to be "enforceable" against, or serve a notice to third parties of the new owner's interest in the property.

There are generally three broad categories of deeds mostly used to convey property in Georgia, depending on certain warranties, or the lack thereof, contained therein. These categorizes include warranty deeds, limited warranty deeds, and quitclaim deeds. In a warranty or general warranty deed, the grantor generally warrants title, and promises to defend the grantee against third party title claims that either arose, or which are based on events occuring at anytime during the grantor's ownership of the property OR the ownership of any of the grantor's predecessors in title. In a limited warranty deed, a grantor generally warrants and promises to defend the grantee against title claims which arose, or which are based on events occuring during the grantor's ownership only. A quitclaim deed generally contains no warranties. Therefore, the grantee or transferee of a quitclaim deed has little to no recourse against the grantor if there is an issue with the title to the property based on the deed alone. Quitclaim deeds are often used when there is little or no money being exchanged for the property such as when there is a transfer of family property, between family members or where property is gifted.

Generally, an owner of property and the potential purchaser would use a Quitclaim Deed when there is no need to warrant or guarantee that the property is free and clear of liens. In other words, the seller does not warrant and guarantee that the property is free and clear of any and all liens. A common use would be when the property has been in the family and the transfer of the property is between family members knowing that there are no liens on the property and all taxes have been paid on the property.

You probably want an attorney to review the deed and make sure it looks ok. You also want an attorney to help you with completing the Preliminary Change of Ownership Form (used by county to determine reassessment of taxes). If all of that looks good, then you want to record the deed with the county recorder. I can review deed and help with Preliminary Change of Ownership Form for $295. Same Day Service.