Subject: Aestar – Quitclaim Warranty Deed
Aestar LLC supervises the sale transactions, verifies legal documents, and insures real estate titles.
Aestar LLC is a different title company. Aestar offers knowledge to protect consumers: buyers and sellers.
In a quitclaim warranty deed, the seller (or grantor) is not responsible for any claim or demand. A quitclaim warranty deed is rare and often involves where the seller (or grantor) has little or no knowledge of the property’s title (or interest) such as inheritance or gift. The seller (or grantor) is indicating there “I am quitting my ownership interest and transfer that unknown interest and all defects to you”. For example, you bought a house in 2011 from seller A, who had bought the house from builder B in 2010. In 2012, the county notified you that the 2009 property tax had not been paid. If you had received a Quitclaim Warranty Deed from Seller A, then Seller A would have nothing to do with the 2009 unpaid property tax since Seller A bought the house in 2011. Seller A would not be liable for the 2009 unpaid property tax.
Contact me should you have further questions.
Jonathan Kan, Licensed Title Producer/Notary Public
Aestar Settlements LLC
15881-B Crabbs Branch Way, Rockville, MD 20855
C: 240-351-6098 F: 888-501-3060 E: [email protected]
www.aestar-settlements.com
Follow Aestar’s twitter http://www.twitter.com/ASettlements
This column is not legal advice and should not be acted upon without obtaining your own legal counsel.
Copyright©2014-2016 Aestar LLC All Rights Reserved Worldwide
Comments are closed.