What is a deed of release?

A deed of release, also known as a quitclaim, is a legal document used in North Carolina property law to officially transfer ownership of property from one person to another. The deed of release is different from a warranty deed, which provides a guarantee that the title of the property is free from legal disputes. A deed of release is typically used when one party wants to sell the property to another party but does not want to guarantee any other promises. It is usually used in situations when the current owner of the property is not sure of the title of the property or the existence of any claims against it. The deed of release transfers any interest the current owner may have in the property, without guaranteeing title or claims to the new owner. When a deed of release is used, the new owner of the property assumes all the rights and responsibilities related to the property. This means the new owner is solely responsible for making sure the title is valid and for researching any potential claims against the property. In North Carolina, a deed of release must be prepared in writing, signed by both parties, and filed with the county Clerk of Court. The deed must include the property description, the date of the transfer, and the parties involved. All signatures must be witnessed by two independent persons or a notary public. The deed also must be officially recorded to become legally binding.

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