The transfer of real estate in California from one person to another can be a complicated process, but it generally includes the conveyance of title to the property. The property deed serves as the legal instrument that transfers ownership of real estate from one person to another. Quitclaim deeds provide buyers of real estate with some protection in real estate transactions.
What do quitclaim deeds do?
Quitclaim deeds are generally used to transfer real estate between relatives or to cure title defects. Quitclaim deeds are relatively common and are often used in situations where the buyer and seller know each other and thus are more apt to accept the risks involved when a buyer lacks protection. Quitclaim deeds are also commonly used when the real estate transaction does not involve money.
Important facts regarding quitclaim deeds
It is important for buyers to understand what they are in for when it comes to quitclaim deeds. First, quitclaim deeds only transfer the interest, if any, that the seller currently has in the property. It does not provide any warranties regarding title to the property. Therefore, buyers should only accept quitclaim deeds from people they trust or in situations where money is not exchanged in the real estate transfer process.
In addition, quitclaim deeds can be used to clear clouds on the title. For example, quitclaim deeds can clarify language on the title that does not comply with state laws. Missing signatures or the failure to properly record title to the property can also be cured through a quitclaim deed. Quitclaim deeds can also cure typos in the in the title. However, quitclaim deeds to not provide any warranties. For example, if there is a title defect the buyer cannot pursue any legal remedies against the seller if all they have is a quitclaim deed.
Learn more about real estate transactions
Quitclaim deeds may be attractive to some buyers, but the scope of what they can do is limited. This post is for informational purposes only and does not contain legal advice. Those in Los Angeles who want to learn more about real estate transactions are invited to explore our firm’s website for further information.