The legal literature surrounding home ownership can be overwhelming, under-rewarding and repetitive if you don’t do it right the first time. This type of complicated legal matter doesn’t have to be so difficult whenever you have help from trusted professionals, especially with something as beloved as a family home. That’s why Dan Burke Attorney at Law is here to help! Whether you’re selling your first home or you’re passing down your old home to someone you love, there are a lot of different ways that you can transfer the ownership of one property to another. The most common and easiest way to do this is through a deed.
What is a Deed?
Deeds are a way to transfer titles between the person selling a property and the person purchasing or inheriting a property. Real estate attorneys will often ask a lot of questions about the property itself or how you would like the property to be transferred. This is partly because the type of deed that is used to initiate the transfer can have consequences not only on your home ownership but on the potential buyers as well.
Here are three types of San Antonio deeds that you may come across:
Quitclaim Deeds
While this is called a deed, this doesn’t function exactly as an average deed would. A quitclaim deed acts as a form of release, relinquishing any claim of the title completely to the person it’s being transferred to.
Quitclaim deeds are not generally credited by title companies, which can make them undesirable outside of certain circumstances. Specifically, if you’re transferring the title for a small business, it may be best to talk to a small business attorney to make sure that the process won’t hold the grantor liable for any previously incurred damages.
To learn more about the potential troubles of using quitclaim deeds, read our blog about why quitclaim deeds aren’t used often in Texas.
Warranty Deeds
Warranty deeds are the most inclusive of all circumstances, with both express and implied warranties being included under them. This is the most popular for the buyers as it is the most expressly stated in regards to ownership, and it requires that the person who will grant the deed holds a level of responsibility.
This will not be as popular for those transferring the property as the broadness of the deed may include title defects that were outside of the owner’s reasonable scope. If you’re worried that the previous owners of a title may affect your transfer in the future, meeting with a real estate attorney will give you insight into what you are liable for.
Special Warranty Deeds
Special warranty deeds are very similar to general deeds but act as a sort of compromise between a grantor that isn’t comfortable with the broadness of the general deed and a buyer that is looking for a type of protection on the transfer of the title.
While it doesn’t offer any protections for claims that come up before the original grantor owned it, its limited scope makes it a great way to calm any dispute against the grantee and grantor. Small business attorneys may use this for a transfer of title so that the original owner is not held responsible for mistakes out of their control.
Contact Dan Burke Today!
Dan Burke Attorney at Law, is passionate about fighting for you. Whether you’re looking for someone to sell an old beloved home or looking to purchase your first, Dan Burke’s experience will make sure to get the best result available. With free consultations available and over 19 years of experience serving San Antonio, any of your small business and real estate problems are only one call away from solutions. Schedule your free consultation today!
