If you are getting ready to sell a piece of property you may be asking yourself the following question: What is a quit claim deed? Most people may not know the answer to this especially if they have never sold a piece of property without the assistance of an attorney or realtor.

A quit claim deed is a form that accompanies the sale of property from one individual to another. It proves that the buyer received the property from the seller for a specific amount of money and that the seller is giving up all rights to the property.

Quit claim deeds are also known as quitclaim deeds or quick claim deeds and may be different in each state. If you are selling property that is not in the same state that you reside in it is best to get help from somebody who knows what is needed in that state.

Quit claim deeds do not provide any guarantees or warranties pertaining to the property that is being sold. Many times people will use quit claim deeds to transfer property from one family member to another, from an individual to an estate, or to address mistakes that were written into the title of a property.

One thing that should be considered when buying a piece of property that is sold using a quit claim deed is that it does not guarantee that the seller has the legal right to sell the property. If the property is not in their name or there are liens against the property the sale will not be legal. Many times people will pay half the amount at signing and the other half after the deed has been filed and approved. This can give the buyer a sense of protection against the possibility of problems occurring upon filing the deed.

Most times using a quit claim deed is not a problem but if the person selling the property asks you "what is a quit claim deed?" you might want to consider using an attorney or a realtor to make the sale run smoothly and lower the chance of legal issues