What type of deed would a homeowner use to transfer their rights without any guarantees?

Prepare for the Metro Brokers Exam with flashcards and multiple choice questions. Each question is accompanied by hints and explanations. Get ready for your certification!

A homeowner would use a quitclaim deed to transfer their rights without any guarantees because this type of deed conveys whatever interest the grantor has in the property, if any, without providing any warranties or assurances regarding the title. Essentially, the grantor does not guarantee that they own the property or that the title is free from claims.

This transfer method is often used in situations where the grantor and grantee have a close relationship, such as between family members or in divorce settlements, where the parties know each other well and are willing to accept the risks associated with the lack of title assurance. The quitclaim deed does not provide the same level of protection as other types of deeds, like a general or special warranty deed, which do include guarantees concerning the condition of the title.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy