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It is important to note that a quitclaim deed has no effect on a mortgage. How Does a Quitclaim Deed Affect Your Mortgage?
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In other words, the deed provides the buyer with protection, or warranty, against those things.īy contrast, a quitclaim deed contains no warranties. It also guarantees that there are no debts or liens against the property except those that have already been made clear to the buyer. With a general warranty deed, there is no one outside of the grantor (the person selling the property to you) who can claim the property as his or hers. This means it guarantees that the person transferring the title is the owner of the property and has the right to transfer the property to you. It is used to warrant the good state of the home title. A general warranty deed is the most common type of deed in real estate sales transactions. To understand what a quitclaim deed is, it’s important to know what a general warranty deed is.