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Usage varies by state, and in Massachusetts quitclaim deeds include statutory warranties (similar to “special warranty deeds” in other states) and are the norm rather than the exception. [12] Execution of a quitclaim deed is relatively simple, and may require little more than the signature of the parties.
The quitclaim deed is also sometimes used, although this document is most often used to disclaim any interest in a property rather than selling a property that one owns. A grant deed includes a detailed property description, which helps avoid confusion or disputes regarding the boundaries and characteristics of the property being transferred.
A warranty deed is a type of deed where the grantor (seller) guarantees that they hold clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that they hold title to a piece of real estate.
Unlike acquisition through a deed of sale, a quiet title action will give the party seeking such relief no cause of action against previous owners of the property, unless the plaintiff in the quiet title action acquired its interest through a warranty deed and had to bring the action to settle defects that existed when the warranty deed was ...
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender.
This is a deed "for which the grantor implies to have or have had an interest in the property but offers no warranties of title to the grantee." [2] Under common law, this type of deed technically created a use in the buyer who then gets the title. [3] Under the statute of uses, modern real property law disregards this subtle distinction.
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