Home Buying in Dayton>Question Details

Boss Lady, Home Buyer in Trotwood, OH

why would a seller sell with a quit claim deed? and what are the pitfalls of buying with one?

Asked by Boss Lady, Trotwood, OH Tue Sep 10, 2013

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>>but quitclaim deeds do not warrant good title.

This is the key to what Amy said. If you don't know what this means you should investigate this.
2 votes Thank Flag Link Tue Sep 10, 2013
Quit claim deed is a real property deed which transfers or conveys only that interest in the property in which the grantor has title. Commonly used in transfers of title or interests in title, quitclaims are often made to family members, divorcing spouses, or in other transactions between people well-known to each other. Quitclaim deeds are also used to clear up questions of full title when a person has a possible but unknown interest in the property. Grant deeds and warranty deeds guarantee or warrant that the grantor has full title to the property or the interest the deed states is being conveyed, but quitclaim deeds do not warrant good title.
1 vote Thank Flag Link Tue Sep 10, 2013
I signed a quit claim deed in 1994 when my ex-husband and I were divorced and I ended up moving out of our house we had bought together. I had to sign the quit claim deed in order to meet the financial obligation of lower expenses in able to buy a little house of my own after our divorce. I signed that paper at my closing of my house....or so it seemed! This past year a title company called me and said the quit claim deed was not signed officially (?) and that I needed to come in to do that; the house that my ex and I had lived in was pending a sale (my ex did not own it or live in it and as a matter of fact he had sold it in about 1995). I remember thinking.....hmmm.....does that mean I still own the house???! The title agent on the phone actually made a reference to infer that it could be misconstrued as such! also, I believe that means my ex husband may have SOLD that house with just his signature and my "quit claim deed" signature from my closing papers which may have just been paper to satisfy the purchase of my house alone, not a quit claim for the other house we had purchased together that I had moved out of.. just giving some examples here of why perhaps it happens. Seperation....and D I V O R C E and unfortunately death are reasons I see...
0 votes Thank Flag Link Wed Oct 2, 2013
Well, they may not own the property, for one thing. The pitfall is that you buy a worthless deed. Yes, this would be a rip-off.

All the best,
0 votes Thank Flag Link Tue Sep 10, 2013
A quit claim deed, is simply the seller giving you any rights to the property that they MAY have. It may not be all the rights to the property.

With a warranty deed, the seller is stating they are giving you ALL rights except any excluded in the deed, and will defend the title for you.

A full title search should be done before buying ANY property.

When purchasing a property from a third party, I always get a warranty deed.
0 votes Thank Flag Link Tue Sep 10, 2013
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