Warranty Dead

Deeds are simply documents that transfer title from one person to another. There aare many different types of deed, but basicly they just transfer title. Let's talk about a "quit claim deed". A quit claim deed is a type of deed where a person (grantor) with an ownership interest in a property transfers that interest to another person (grantee). The grantor offers no guarantees about the title to the grantee recipient. Don't confuse a quit claim deed with the type of deed that is normally used to transfer title to real estate. That is most often a grant deed or a warranty deed. Those deeds transfer title with some guarantee that the title is legal and valid. You sometimes hear a quite claim deed erroniously called a "quick claim deed". A quit claim transfers only the rights of the person signing the deed. It does not guarantee that other people don't have an interest in the property. If there are other owners, their ownership is not affected by the quit claim.

You definitely need someone who can research property titles for you regardless of whether you are investing in tax lien certificates or tax deeds. If you are using a title search company, there are different levels of title searches for different prices. For tax liens, you may only need the simplest and cheapest search. If more detailed searches are needed during the foreclosure process, your lawyer can order them from the same title company. Sometimes you may want to use different title companies to do different types of searches on the same property.