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Home Q&A Forum When to use a quitclaim deed?

Real Estate

Quitclaim Deed

Georgia

Asked on Sep 30, 2023

When to use a quitclaim deed?

I recently inherited a piece of property from a family member and I am looking to transfer ownership to another family member. I am not sure if a Quitclaim deed is the correct way to do this, and I am seeking legal advice to understand when to use a Quitclaim deed in this situation.

1 Attorney answer

Answer

Real Estate

Georgia

Answered 271 days ago

Bobby H.

ContractsCounsel verified

Business Lawyer
Licensed in Georgia
Free Consultation

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.

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