If a piece of property up for auction and there is a quit claim deed attached to the property does this mean buyer cannot sell?
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If a piece of property up for auction and there is a quit claim deed attached to the property does this mean buyer cannot sell?
Asked on October 13, 2011 under Real Estate Law, Massachusetts
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
A quitclaim deed is a form of a conveyance of real estate where the person signing the quitclaim deed is releasing all interests that he or she may have in the property to the grantee without any warranties of ownership. meaning, the person signing the quitclaim deed is not making any guarantees as to their ownership rights to the property.
This is quite different than a grant deed which is a "warranty deed" where the grantor guarantees that he or she has good legal title to the land being transferred.
In your situation if the property being auctioned has a quitclaim deed recorded upon its chain of title, it is not an impediment at the auction for the property to be sold.
Good question.
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