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General Warranty Deed Most Often Used for Home Purchases - 2009-09-13
There's something about the phrase "quit claim deed" that makes people want to use it.

Perhaps it's because some folks call it a "quick claim" deed, and maybe that leads some to hope that a quick deed will be less expensive or somehow less complex than another form of deed. I only know that one of the most common questions I get is this:

If I want to transfer ownership of this property to another person, why can't I just use a quit claim deed?

Well, the answer is simple. You can, indeed, transfer your interest in a piece of real property to another person or entity with a quit claim deed in Georgia. But there's a catch: you may not be making a wise legal decision.

Here's why:

In this state, attorneys use a variety of deeds to transfer interests in real property, and each has a specific purpose.

A QUIT CLAIM deed is a complete transfer from the grantor (person granting) to the grantee (person receiving) with absolutely no guarantee of the validity of the interest. In other words, a person giving you a quit claim deed is saying:

"I don't know if I have any ownership in this property or not, but if I do, I am giving it to you."

Thus, I could offer to sell you my complete interest in the Empire State Building in Manhattan for ten dollars, so long as you accept the transfer by way of quit claim deed. Because I have no legitimate interest in that building, I would have transferred nothing to you.

On the other hand, if I did, in fact, own the Empire State Building personally, then a quit claim deed would effectively transfer all my interest in that property to you.

The problem is not in the transfer, it's in the warranty of ownership that is missing in the quit claim deed, or QCD as it is often listed.

In almost every case where you would be buying a home, your attorney will insist on your receiving transfer of ownership by a General Warranty Deed, the highest and best form of ownership transfer in Georgia. In addition to granting you ownership, the Warranty Deed carries a personal guarantee of undisputed ownership that the quit claim lacks.

So if there is ever a claim against your ownership or a dispute about the validity of your title, you could fall back on the warranty you received at the time of purchase. In most warranty deeds, that promise to defend your interest lasts "in perpetuity," that is, forever.

My advice is this: whenever possible, use a General Warranty Deed to take ownership of real property. Only use a Quit Claim Deed on the advice of a real estate attorney.
 
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