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Home Q&A Forum Pros and cons of using a quitclaim deed?

Real Estate

Quitclaim Deed

Connecticut

Asked on Oct 4, 2023

Pros and cons of using a quitclaim deed?

I recently inherited a property from a family member, and I am trying to figure out the best way to transfer the title of ownership to me. I have heard of quitclaim deeds, and I am interested in learning more about the benefits and drawbacks of using a quitclaim deed to transfer the title of ownership.

1 Attorney answer

Answer

Real Estate

Connecticut

Answered 235 days ago

Michael C.

ContractsCounsel verified

Business Lawyer
Licensed in Minnesota
Free Consultation

Here are some of the main pros and cons of using a quitclaim deed: Pros: - It's a relatively quick and easy way to transfer property title. The process is simpler than other deed types because no warranty of title is provided. - It can help avoid probate if transferring title from a deceased owner. The property can be transferred without going through probate court. - It's generally less expensive than other deeds. A quitclaim deed is usually considered the simplest and cheapest deed option. - It clears up potential title clouds. It can resolve ambiguities in the property's title history. Cons: - It provides no warranty of title. The person transferring the property does not guarantee they actually own the property. - No liability protection for the recipient. If there are defects in the property title, the recipient has no legal recourse against the grantor. - It may not transfer all interests. Mineral rights, easements, mortgages, and other encumbrances may still exist after the transfer. - The grantor must have valid interest to quitclaim. If the grantor doesn't actually have rights to the property, the deed may be void. - It can facilitate fraud if misused. Care should be taken that the grantor has rights to the property. In summary, a quitclaim deed can be a fast and low-cost option to transfer property title, but provides less protection than other deeds. It's important to be sure the grantor has valid rights to avoid potential title issues. Consulting a real estate attorney can help navigate the pros and cons.

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