This is the next article in our series on the various types of real estate deeds in Oklahoma.  The last post delves into the special warranty deed.   In this article, we will discuss one of the most commonly asked questions: what is a quitclaim deed?

Whether your needs involve transactional assistance such as the conveyance of a property or litigation assistance such as real estate lawsuits, Niroula Law is here to help.  Contact us online or by telephone to get in touch with a real estate law firm, and speak to an OKC real estate lawyer.

What is a quit claim deed?

A quitclaim deed is one of the various deeds through which a grantor’s interest in a property is transferred to the grantee.  Unlike a warranty deed or special warranty deed, both of which warranty certain covenants affording protection to the grantee (buyer), a quitclaim deed makes no guarantees or promises about the property’s title.

In essence, through a quitclaim deed, the grantor only transfers whatever interest he owns in the property.  This means that if the grantor happens to have no interest in the property he is transferring, then the deed transfers just that – nothing.  It’s generally used between parties who trust each other such as family members.  A quitclaim deed is also appropriate where the grantor is not in a position to guarantee or make promises about the title.

Generally, if the conveyance includes an actual sale of a property, then either a warranty or a special warranty deed is executed.  However, for conveyance without an actual sale such as transferring property to a trust or to another family member, a quit claim deed is used.

The actual quitclaim document is substantially the same as a warranty deed and contains the words “do grant, bargain, sell, and convey.”  In addition, it also contains an additional word, quitclaim.  Unlike in a warranty deed, the words “and warrants the title to the same” are omitted in the quitclaim deed.

Click here for a Sample Oklahoma County Quitclaim Deed.Courtesy of Oklahoma County.  This form is for sample purposes only.  We recommend that you speak to a real estate attorney to assess your legal needs and determine the conveyance tools that fit your requirements. 

What are the advantages and disadvantages of a quit claim deed?

The main advantages of a quitclaim deed are the convenience, expedition, and minimal expenditure.  A quitclaim deed helps simplify and expedite real estate transactions saving time and money.

The main disadvantage of a quitclaim deed is that it affords the grantee the least protection among other deeds.  Since the grantor is only conveying the interest he has in the property, without stating what that is, the grantee receives what the grantor owns, which can be nothing.  Because of this, a quitclaim deed affords no guarantee of clear title.

How does a quit claim deed work in Oklahoma?

The way a quitclaim works is that it makes no promises or guarantees of clear title to the grantee (buyer).  It conveys only the interest owned by the grantor, which means that if he has no interest in the property, you are getting nothing.  Although a quitclaim deed is a fast way to transfer property to the grantee (buyer), it affords no buyer protection.  You may get an interest in the property that is riddled with liens and encumbrances, or get no interest at all – if the grantor had zero interest in it.

OKC real estate lawyer

If you have a transactional issue or a litigation matter that requires legal counsel, we are here to help.  We will give your case the attention it deserves and assist you in navigating the legal complexities.  Contact us online or by telephone to get in touch with a real estate law firm and speak to an OKC real estate lawyer.