Expedited Processing Times
Quitclaim deeds are frequently used between family members when it is necessary or advisable to change ownership quickly. This may be due to the original owner travelling overseas and being unavailable for upcoming transactions. Married couples may utilize the quitclaim deed to transfer ownership upon marriage or separation. The original owner of a real property may be unable or incapable of processing transactions on their own behalf due to an accident or a physical or mental disability. These represent only a few of the instances where quitclaim deed could be useful.
Correct or Alter Title Documents
Quitclaim deeds are also used to correct a typographical or clerical error on an original deed record. This is generally considered to be a temporary solution to provide a paper trail of the event or transaction while a new title investigation or other activities take place. In these cases, a new deed will eventually be issued to the real property owner. Not every state permits this type of use of a quitclaim deed, and the rules may change from one municipal district to the next.
Things a Quitclaim Deed Cannot Accomplish
Although quitclaim deeds have many benefits and uses, they are not a viable substitute for a thorough title search. Quitclaim deeds will affect the deed certificate only, and do not transfer ownership or liability of anything else related to the real property. Mortgages, liens, utilities, and insurance liabilities are not transferred through quitclaim deed. These conditions are neither implied nor expressed through the transfer of ownership through a quitclaim deed. Quitclaims offer little to no protection or background information to the new owner, since no documents are authenticated and no official title investigation is required for a quitclaim to be processed.
