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The legal instrument by which the transfer is effected may be known as a quitclaim deed or a quitclaim agreement. [3] Details of the instrument itself, and the typical circumstances of use, vary by U.S. state.
A quitclaim deed, sometimes referred to as a non-warranty deed, is a document used to transfer interest in a property. Common terms utilized alongside quitclaim deeds are "grantor" and "grantee."
Grant deeds strike a balance between protection and simplicity. [2] They use precise and unambiguous language to ensure clarity and understanding, and they include warranties that offer protection against future claims on the property. [2] Grant deeds require full disclosure of any encumbrances on the property, such as liens or restrictions. [1]
Each U.S. state has a recording act, a statute which dictates the legal procedure by which an individual claiming an interest in real property (real estate) formally establishes their claim to that property. The recordation of property rights becomes particularly significant where an unscrupulous dealer in land purports to sell the same tract ...
1. If O conveys property she doesn't own to A by warranty deed, but O later acquires title to that land, then title immediately passes to A.. 2. However, if, as above, O conveys property she doesn't own to A by warranty deed, but O later acquires title to that land, A may elect to treat O's lack of title at the time of the conveyance as a breach of the covenants of seisin and right to convey ...
This page was last edited on 31 December 2021, at 20:00 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
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