Using Quitclaim Deeds in Florida

A quitclaim deed allows property owners to transfer whatever interest they may have in a specific piece of real estate. As opposed to a warranty deed, it does not offer any guarantees that the owner has good title or even ownership at all; it simply conveys whatever interest exists at the time of the deed’s signing. Once buyers accept it, they are left with little to no recourse against the former owner. This lack of protection generally makes a quitclaim deed unsuitable for purchasing real estate from an unknown party.

Yet, a quitclaim deed is fully sufficient to convey property in other circumstances, such as transfers between family members or spouses. For example, in case of divorce, a spouse can quit claim to his or her interest in the property; alternately, the deed can be used to add a spouse to the title. Other scenarios that lend themselves to using a quitclaim deed are transfers to a corporation or into a trust as well as uncertainties regarding title.

When there is a cloud on the title, a question whether parties unnamed in the deed have interest in the property, the title insurance company may require a quitclaim deed in order to remove the potential interest holder and to restore marketability of the owner’s title. Lenders might require the same from a spouse who will not be on the title.

Record the deed in the recording division of the county clerk of court’s office. This provides official notice of the land transfer and makes the instrument part of the public record; if unrecorded, it is void to subsequent purchasers for valuable consideration (Florida Statutes, Title XL, Chapter 695.01).

Further information about quitclaim deeds and other real estate documents is available at Deeds.com. When in doubt about what type of deed to use or to accept, seek legal help from an attorney.

Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale .

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.

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