what is the difference between a warranty deed and a quit claim deed?

Financing, Hard Money Lenders, Private Money
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:help

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Google search is a wonderful tool.

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Eric,
Thank you, it is in deed usefull:)
Basically I found that quit claims were sometimes linked to divorces or familly pass overs.
Interresting info.
Thanks,
Alex

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A general warranty deed transfers ownership in the property with clear title. Any obstructions have to be resolved before the general warranty deed is settled. This is usually secured by title insurance. A quit Claim deed basically says that the seller grants any rights to the land that he has if any to the buyer. I can write a quit claim deed on your house if I want to. It doesn’t mean that you own it. It means that I have given any rights to the land that I have to you. In other words the work has not been done to settle ownership just because you have a quit claim deed.

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Hello Friends…

1.In the customary arms-length real estate sale, the seller conveys ownership to the buyer with a general warranty deed, sometimes called just “warranty deed” or “grant deed.” By using this deed, the seller is warranting that he has good title to the property and that there are no encumbrances against the property, such as liens for unpaid taxes and court judgments.

2.Unlike general warranty deeds, quitclaim deeds convey ownership without any warranties regarding title. The person receiving the ownership interest takes it along with any encumbrances, such as a mortgage or liens for unpaid taxes and judgments

Thanks