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55 701 NC Quitclaim Deed 8 5 X 14 Qxd Blumberg Forms

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55 701 NC Quitclaim Deed 8 5 X 14 Qxd Blumberg Forms

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what is a quitclaim deed the quitclaim is a type of legal document deed used to transfer interest in real estate from one person or entity grant or to another grantee unlike other real estate deeds it conveys only the interest the grantor has at the time of the deeds execution and does not guarantee that the grantor actually owns the property or has good title without warranties it offers the grantee little or no recourse against the seller if a problem with the title arises in the future this lack of protection makes the quitclaim deed unsuitable when purchasing real estate from an unknown party in a traditional sale it is however a useful instrument when conveying property from one family member or spouse to another and it is commonly used in divorce proceedings or for estate planning purposes title companies may require a quitclaim deed in order to clear up what they consider to be a cloud on the title prior to issuing title insurance similarly prior to funding alone lenders may ask

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