Warranty Deed v Quit Claim Deed

A quit claim deed conveys everything owned by the grantor with the exception of any reservations. A warranty deed conveys the same title plus provides a representation that the grantor owns that which is conveyed which .the grantor has to back up with defense of title and damages if the owner is wrong plus the doctrine of estoppel by deed of after acquired title applies. If the grantor is insolvent or deceased at the time a title issue arises, defense and damages may not be useful.

Title insurance is just that – insurance. The title company agrees to do that which is in the insurance policy which is usually to defend the title and pay damages up to the amount insured. Title insurance does not mean that there is good title. It only means that the title insurance company will issue a policy of title insurance.

Depending on how important good title is, you may want to know the actual condition of the title. If so, obtain from an abstract company a certified abstract of title covering the original patent and at least the last 40 years of record title transactions on the property description. With an abstract, there still is the issue as to whether the abstract company has done a good job, but the company will certify that they have.

If good title is rally important, then actual examination of title, in addition to title insurance, is a good idea, Neither a quit claim deed nor a warranty deed is assurance that title is good.