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RealEstateAnswer
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Category: Real Estate Law
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Experience:  9+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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What is the difference between a quit claim deed and a grant

Customer Question

what is the difference between a quit claim deed and a grant deed?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 1 year ago.
Good afternoon. Grant deeds not only transfer ownership of the property from one party to another, but they also guarantee the new owner will not be held responsible for any unknown ownership claims that might be made against the property in the future. In grant deeds, the seller promises to be liable for any future claims. This means that if a claim is made and the seller cannot verify that he had complete ownership of the property before he sold it, he will compensate the buyer for any money the buyer spent on the property, included taxes, insurance, repairs and improvements. The seller can offer to be liable for future claims that date from when he owned the property, or for "all time" that the property existed. On the other hand, quitclaims make no guarantee against future ownership claims. Quitclaims simply state that a prior joint owner gives up all future rights, benefits and interests in the property named in the deed. They do not make any claims, promises or guarantees about the title or the property. A grant deed gives the party MUCH more protection.
Expert:  RealEstateAnswer replied 1 year ago.
I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!

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