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Questions about quit claim deed
I have several rental properties that are in personal name and I heard I have to do a quit claim deed but can some explain what is the purpose on doing this , thanks
@Jose Ramirez, I'm guessing that someone told you this if you are trying to move the properties into an LLC.
A quit claim deed just means you are transferring ownership but making ABSOLUTELY NO GUARANTEES about the title to the property. That's all a quit claim deed means.
In my area a typical transfer to a new buyer would use a Special Warranty Deed where the seller guarantees the title for issues that happened during the seller's ownership of the property.
There is also a General Warranty Deed where the seller guarantees the title absolutely no matter when an issue with the title came into existence.