Quitclaim deed and warranty deed process

[Sean S.]

Hi,

I was hoping that someone could help clarify a question for me as I could not find an answer online. I am hoping to obtain a Fannie Mae loan and transferring the title to a LLC. In order to do this, I will need to do a title transfer where I have to choose whether to use a quitclaim or a warranty deed. As I am planning on flipping properties, am i able to do a quitclaim deed to give the title to the LLC and a warranty deed when I go to sell it? If this is possible, if you could give some input in regard of the process of changing the quitclaim into a warranty deed it would be greatly appreciated.

[Alison P.]

A quitclaim deed transfers any interest you own in the property. It does not create any warranties on the title. A warranty deed is done after a title search which ensures that you are conveying clear title. It guarantees that the grantor has legal rights to the property. Most of the time when transferring the property to yourself or an LLC it would be a quitclaim deed, then when you sell it would be a warranty deed after a title search was performed.