Can a quitclaim deed be converted to a warranty deed?
A quitclaim deed can convey title as effectively as a warranty deed if the grantor has a good title when the deed is delivered. If the title contains a defect, for example, the grantee has no legal recourse against the grantor under the deed.
Is a warranty deed acceptable proof of ownership?
The general warranty deed is the standard instrument for home sales. Your notarized warranty deed is proof of ownership, and that the grantor transferred complete and clear title to you. A quitclaim deed also proves full land ownership\u2014if the person who conveyed the interest to you had full ownership.Oct 9, 2019
Can you be on the deed to a house and not the mortgage?
It is possible to be named on the title deed of a home without being on the mortgage. However, doing so assumes risks of ownership because the title is not free and clear of liens and possible other encumbrances. Free and clear means that no one else has rights to the title above the owner.
Who holds the deed when there is a mortgage?
The two parties involved in a mortgage deed state are the buyer and the lender. The lender holds the deed for the duration of the loan.