Get a warranty deed instead. A quit claim deed is not a “quick” claim deed, and it’s not fast. A quit claim deed is just a cleaning up tool. It’s like bleach—it has a purpose, but you don’t use it on colored clothes. And it can blanch your expectations.
When you quit claim deed interest in a property, you are conveying or giving all interest you have IF ANY (but you might not have any interest). There are no warranties. So therefore, if you bought a nice home and you got a title insurance policy to insure that, but then decided to do some estate planning and quitclaimed the home to your trust or family members, you have voided your title policy. DON’T DO IT. Quit claim deeds are great for cleaning up title related issues, but not much more.
Quit claim deeds can also be an easy way for someone to commit fraud. You can smell bleach, yes, but the odor of fraud often is the victim’s scent—undetectable until after the victim becomes the victim.
With few exceptions, always get a warranty deed instead of a quit claim deed. To discuss further, comment here, or listen to Land Title Talk on News Talk 1240 WFOY AM next Wednesday morning at 8:00. All of Land Title Talk can be found on this website here.