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Jose Ramirez
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Questions about quit claim deed

Jose Ramirez
Posted Aug 12 2024, 12:53

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 

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Kevin Sobilo
  • Rental Property Investor
  • Hanover Twp, PA
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Kevin Sobilo
  • Rental Property Investor
  • Hanover Twp, PA
Replied Aug 12 2024, 13:02

@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.