Maryland Quitclaim Deed
Last Modified 8/6/2015
(last edited 8/6/2015)
Need to transfer a property from your personal name to an LLC or corporation? Or perhaps transferring partial ownership interests among siblings who inherited a house? Quitclaim deeds are fast, easy ways to transfer ownership, but they come without the usual real estate transfer protections.
A quitclaim deed literally allows one person or legal entity to "quit their claim" on a piece of real estate. They are offering no guarantees that the title is clear, they are merely recording a deed stating that they release all legal claims on a property and transfer them to a grantee. They should only be used when both the grantor and grantee know and trust each other very, very well.
In a normal real estate transaction, the buyer obtains a full title history report, and all liens are verified to make sure that the property is free and clear upon the grantee taking ownership. This process is not necessarily done with a quitclaim deed.
Use caution when using a Maryland quitclaim deed, but if you just need a "quick and dirty" real estate transfer, a quitclaim deed may be the way to go.
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