Quitclaim vs. Warranty Deeds: What You Need to Know

20 Dec 2024 · 1 min

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In this brief discussion, the speakers explain how different deed types affect existing title insurance. A quitclaim deed terminates any previously purchased title insurance, rendering it void. In contrast, a warranty deed keeps the title insurance in force. They advise homeowners to evaluate the expense of using a warranty deed against the cost of obtaining new title insurance if a quitclaim deed is used, highlighting the practical financial implications of deed selection during property transfers.

Transferring property. Compare deed types for title insurance impact and cost.
And it's really easy to use a quitclaim deed, but just know that when you use a quitclaim deed, the title insurance that was bought previously on that property gets axed, gets— becomes null and void if you use a quitclaim deed. If you use a warranty deed, the title insurance remains in effect. So what you need to do is price out what's the cost of using a warranty deed versus buying new title insurance.