What is the difference between a warranty deed and a quitclaim deed?

A warranty deed and a quitclaim deed both involve transferring the rights and ownership of a property. However, there are some key differences between the two types of deeds. A warranty deed promises that the person transferring the property rights to another person is the rightful owner of the property and that they have the right to transfer ownership. This type of deed also provides the new owner with certain rights and protections if the previous owner still has any claims to the property. A quitclaim deed is used to transfer the rights to the property but it does not guarantee that the person transferring the rights is the rightful owner. This type of deed does not provide the same level of protection for the new owner, as they are not promised that the previous owner had the legal right to transfer the property. In Washington State, warranty deeds are the most commonly used deeds for real estate transactions. While a quitclaim deed can provide a quick and easy transfer of property rights, the lack of protection to the new owner makes warranty deeds the most secure method of real estate transaction.

Related FAQs

What is an agreement to sell?
What is an estoppel certificate?
What is a deed of confirmation?
What is the “lost document rule”?
What is an estoppel?
What is an interest in land?
What is an alienation clause?
What is a negative servitude?
What is the difference between a restrictive covenant and a zoning ordinance?
What is a deed of partition?

What is the difference between a warranty deed and a quitclaim deed?

Related FAQs

Related Blog Posts