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Should I take ownership of a property with a Quit Claim Deed?

This is a common question we get at QuietTitle.com and an important one to ask. For the uninitiated, a Quit Claim Deed is to a degree, buying something as is. This means any issues and/or defects with the property are transferred to the grantee of the title. All risks associated with it are transferred upon to that grantee.

Fortunately, there’s something called a Warranty Deed which can prevent individuals from taking the risk. A Warranty Deed removes much of the gamble because it provides a way out. If there are back taxes owed or if there’s some kind of issue with the title, a Warranty Deed will allow people to get their money back.

With a Quit Claim Deed however, there isn’t an opportunity to get that money back. You inherit everything associated with the title. The back taxes, the issues and anything bad about the title. This is why we get so many questions about taking ownership of a property with a Quit Claim Deed. There’s a gamble involved and it can be costly if things don’t go your way when claiming the property.