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A quitclaim deed can be beneficial in several ways. Unlike other types of deeds, the legal effect is that a grantor conveys ownership of a property to another party without any warranties. It means that the grantee receives the title "as is" and faces all future risks associated with the title to this property.
A Quit Claim Deed used when transferring ownership or releasing interest in land or real estate to another person(s). There are two situations where Quit Claim Deeds might get used:
1) if one seller owns more than one piece of land that will not fit on one deed,
2) if holdings acquired through adverse possession and you want them released from your name entirely.
If you're thinking about using a Quit Claim Deed in your next real estate transaction, make sure to discuss with an attorney specializing in this type of deed first so that the terms are clear and there will be no confusion or ambiguity on what the document means.
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