In South Dakota, a Warranty Deed and a Quit Claim Deed (some people mispronounce it as “quick claim” deed) serve distinct purposes in the conveyance of property. A Warranty Deed provides the grantee with a guarantee that the title to the property is clear and free of any encumbrances, except those explicitly mentioned in the deed itself. This type of deed offers the highest level of protection to the buyer, as it includes covenants that the grantor will defend against any claims challenging the title. In contrast, a Quit Claim Deed transfers whatever interest the grantor has in the property without any warranties or guarantees about the title's status. This means that the grantee receives no protection against defects in the title, and the deed simply transfers any interest the grantor might possess at the time of conveyance. Quit Claim Deeds are often used in transactions between parties who know each other, such as family members, or to clear up title issues.
Comments
There are no comments for this post. Be the first and Add your Comment below.
Leave a Comment
Comments have been disabled.