Posted on: 19th Aug, 2008 01:56 am
What is the difference between quitclaim and special warranty deed?
My husband and I are purchasing a foreclosed home as of 9/5/08 and would like to know if these deeds are used for property with land...the home sits on 1.5 acres but no mention of the land is in this contract?
My husband and I are purchasing a foreclosed home as of 9/5/08 and would like to know if these deeds are used for property with land...the home sits on 1.5 acres but no mention of the land is in this contract?
Hello Martha.
Welcome to the forums.
A quitclaim deed doesn't assure you that the title is free and clear from any lien on the property but a special warranty deed assures this. So as you are buying the property you should use a special warranty deed. Feel free to ask the community if you have further questions.
Welcome to the forums.
A quitclaim deed doesn't assure you that the title is free and clear from any lien on the property but a special warranty deed assures this. So as you are buying the property you should use a special warranty deed. Feel free to ask the community if you have further questions.
Do not purchase a property with a quitclaim deed. A QC deed does not transfer any title. Use a Warranty Deed. In foreclosures, they will use a Special Warranty Deed, which includes exceptions to the warranty. In that case, buy a title insurance policy.
