In Wood County, Ohio, a Warranty Deed guarantees clear property ownership and protects the buyer against title issues, making it standard for home sales. A Quitclaim Deed transfers only the grantor’s interest without guarantees, often used for family transfers or correcting titles. Both must be recorded with the Wood County Recorder’s Office, but only a Warranty Deed ensures full legal protection.
Top 10 Differences Between Warranty Deeds and Quitclaim Deeds
- Guarantee of Ownership
- Warranty Deed: Guarantees the grantor owns the property free of claims.
- Quitclaim Deed: Offers no guarantee; transfers only whatever interest the grantor has.
- Risk to Buyer/Grantee
- Warranty Deed: Low risk; buyer is protected against title defects.
- Quitclaim Deed: High risk; buyer assumes all title issues.
- Legal Protection
- Warranty Deed: Grantee can sue if title defects arise.
- Quitclaim Deed: Grantee cannot hold the grantor liable for defects.
- Common Use
- Warranty Deed: Standard home sales, mortgages, and inheritance transfers.
- Quitclaim Deed: Family transfers, divorces, or clearing title problems.
- Title Search Requirement
- Warranty Deed: Title search is essential.
- Quitclaim Deed: Often skipped, but recommended.
- Title Insurance
- Warranty Deed: Title insurance is easier to obtain.
- Quitclaim Deed: Title insurance may not cover defects.
- Transfer Speed
- Warranty Deed: Slightly longer due to title verification.
- Quitclaim Deed: Faster and simpler to execute.
- Liens and Encumbrances
- Warranty Deed: Ensures property is free from liens.
- Quitclaim Deed: Does not guarantee liens or encumbrances are cleared.
- Recording with Recorder’s Office
- Both: Must be recorded at the Wood County Recorder’s Office to make the transfer official.
- Best for Buyers vs. Internal Transfers
- Warranty Deed: Ideal for buyers seeking security.
- Quitclaim Deed: Ideal for internal, corrective, or family transfers.
Conclusion
Warranty Deeds and Quitclaim Deeds serve distinct purposes in Wood County, Ohio property transfers. A Warranty Deed provides full legal protection and guarantees clear ownership, making it the safest choice for buyers and standard real estate transactions. A Quitclaim Deed, on the other hand, transfers only the grantor’s interest without guarantees, making it suitable for family transfers, divorces, or correcting titles but riskier for buyers. Recording either deed with the Wood County Recorder’s Office is essential to make the transfer official, but only a Warranty Deed ensures full protection against title defects
