A quit claim deed in Georgia transfers the seller’s (grantor) interest in a property over to a buyer (grantee). However, it gives none of the guarantees that might be found in another type of deeds.
Georgia Quit Claim Deed
Also called a non-warranty deed, a quitclaim is one of the methods for transferring residential or commercial property between family members. This legal form conveys only that interest held by the grantor and a title to real estate. A residential or commercial property deed is a written and signed legal document that is utilized to move ownership of real estate from a previous owner (the grantor) to a new owner (the beneficiary or grantee).
This legal form is fairly common, and most real estate agents are experienced in dealing with it. It is typically used in a transaction involving family members. The grantor and the grantee are, therefore, less likely to avoid risks associated with limited to no buyer protection. It is also used to handle any problems regarding the title of the property. This may include the misspelling of a name, or when a property transfers ownership without money being involved.
Although the process is very straightforward, determining whether you qualify, as well as if it is the right method for your situation should be discussed with a qualified estate attorney. The Law Office of Paul Black is ready to provide the advice you need to decide how and when to use it.
Warranty Deed vs Quit Claim Deed
Since people want to make the right choice for their particular situation, they may want to look at a warranty deed vs. a quitclaim transferral. Although a basic guarantee deed is most typical, other types of deeds, such as limited warranty deeds and quitclaim deeds, also satisfy this task. A qualified Georgia estate planning lawyer can help clarify the difference.
A warranty deed moves the majority of residential and commercial property transferred in Georgia. As its name suggests, this legal form transfers the title and offers promises, or warranties, relating to its validity. The seller guarantees that he owns the home or the property free and clear and that there is nothing that would interfere with the transference of ownership.
Most purchasers desire this type of legal document from the seller because this limits risk and provides security. There are scenarios, however, where a seller is just ready to supply a quitclaim deed.
Quit Claim Deeds
When the ownership for a property is less than clear, such as the homeowner shares ownership with one or more other individuals, the grantor releases or quitclaims their claim in the property to the grantee. Since this type of transfer is often conducted between the elderly and their descendants, hiring a lawyer familiar with providing resources for Georgia seniors and their families can be a crucial step.
With a quitclaim, the grantor can not guarantee the quality of the title, which increases the risk to the grantee. The deed clarifies this by using phrases like, “The Grantor makes no guarantee, express or implied, regarding the title of the property described herein.”
How to Get a Georgia Quit Claim Deed
Quick Claim Deed Ga
While you will not require an attorney for this legal form, it must be signed and a notary public will be required to notarize the signatures of both parties, the grantor as well as the grantee. This verifies that both individuals signing the form are who they represent themselves to be.
If you do choose to consult an attorney to ensure this is the best option for you, research your options. Look at websites and read the About Paul page to determine whether the award-winning Law Office of Paul Black is the right counselor for a quitclaim deed.