A quitclaim deed transfers interest in a property between parties. This legal document releases the grantor (seller) from any claims of ownership. The property interest can then go to the grantee (buyer).
However, a quitclaim deed merely confirms that the grantor no longer has property rights, not that they ever had any in the first place. With that in mind, can you sell a house with a quitclaim deed? Is it legal?
Joe Theriault and his team at IPS Cash have the answers when you want to sell your house fast in New Hampshire. Here’s what you need to know about quitclaims.
Quitclaim vs. Warranty Deeds
Your typical warranty deed does three things a quitclaim deed does not:
- It proves the grantor owns the property.
- It shows that the grantor’s title is clear and has no issues.
- It defends the grantee against faulty title claims or liens.
Quitclaim deeds offer only one guarantee: that the grantor transfers any property ownership interest, whether complete, partial, or invalid, to the grantee.
While they are generally simple forms to finish, these deeds are exceptionally risky for grantees. After all, if the grantor doesn’t have valid interest or ownership in a real estate sale, the grantee gets nothing.
Benefits of a Quitclaim Deed
Can you sell a house with a quitclaim deed if it doesn’t offer much? Yes, you can, and quitclaims can be beneficial depending on the situation.
For example, many grantors use this deed for an easy title transfer between family members. Others have used it for property partitions, clearing up potential chain-of-title issues, or during divorces. Both parties generally need to have an enhanced level of trust.
What To Consider When Selling With a Quitclaim Deed
As with any legal documentation, you have to be careful if you decide to use a quitclaim deed. You should also understand that using a quitclaim has its variables, potentially making it harder to sell.
Title Insurance
Insurance companies prefer warrantied deeds to quitclaims, so grantees may have a hard time getting title insurance. Therefore, potential buyers may be deterred from purchasing properties under quitclaim deeds.
Trust Issues
As mentioned earlier, most quitclaims are made between close friends or family members. Strangers tend to avoid them because a quitclaim title offers no guarantees other than the seller’s transfer of interest.
Disclosures
Because the quitclaim only transfers interest in the property, the buyer would have to take on any preexisting property issues. Being honest and up front in all disclosures builds trust between the grantor and grantee, regardless of familial ties.
In New Hampshire and Massachusetts, quitclaim deeds are recognized legal instruments, but they may not always be the smoothest path for a traditional sale. You can review official resources from the New Hampshire Registry of Deeds or the Massachusetts Land Records to understand more about deed transfers.
A Simpler Alternative to Selling With a Quitclaim Deed
Yes, you can sell a house with a quitclaim deed in New Hampshire or Massachusetts. But because quitclaims often create complications, many homeowners choose a simpler alternative: selling directly for cash.
IPS Cash provides fair cash offers on properties in nearly any condition. Whether your home has complicated title issues or you simply want a stress-free solution, we make the process straightforward.
Call Joe Theriault and his team at IPS Cash at 1-888-893-7188, or visit the Get Your Cash Offer page to start today.
