What is the difference in ownership rights with a Grant deed and a Quit Claim deed?

Answer 1

Grant Deed gives permission to use or occupy land. A Quit Claim is usually used to simply change the name on a title of land/house within the family, without going through all the documents of an actual sale. If your father is putting the house in your name, there's no sale. He would just file a Quit Claim to change the name. A Grant specifies which rights are being transferred as well as what warranties are being made.Slightly different than the above explanation - a quit claim does not actually claim to have and transfer anything..it says the givor is agreeing to give up the rights, if any - that they may have.Hence the name - "quit claim" - someone says they won't make a claim, even if they could.

Answer 2

A quitclaim deed only conveys any interest the grantor owns or may own. There are no guarantees that she owns it or that there are no other encumbrances or interests. It does not require that the grantor pass good title. A grant deed (in Massachusetts we call that a Warranty Deed) is a guaranty that the grantor owns the property and there are no outstanding encumbrance.

Answer 3

A quitclaim deed has no covenants or warranties, the grantor makes no statement or even implies ownership of the property. The deed conveys whatever rights the grantor possesses at the time, If the grantor possesses fee simple title ( full ownership) that will be conveyed to the grantee. If the grantor has no interest, right or title in the property, none is conveyed to the grantee. Quitclaim deeds are used on the most part as a release of interest only, It is consider in real estate as the weakest deed to use for conveyance. You will see them used mostly from one family member to another.

In a Grant deed, grantors covenant and warrant that (1) they have not previously conveyed the estate being granted to another party, (2) they have not encumbered the property except as noted in the deed and (3) they will convey to the grantee any title to the property they may later acquire. These covenants are fewer than those found in a Warranty Deed. This deed is better than a quitclaim deed but less than a Warranty deed. Your best deed is a Warranty deed, but not all states use them.

Answer 4

There is no such thing as a quick claim deed. Quitclaim deed is the correct term. A quitclaim deed is a written instrument used to transfer an owner's interest in real property.