Real estate is covered by both federal and state laws. State laws differ on a number of issues. As a result, it is important to protect your interests by retaining an experienced attorney for routine as well as complex transactions. This overview will discuss topics that are important in understanding real estate law.
Learning the legal lingo around real property is a basic task much like learning the difference between diesel and gasoline it may seem like much on the surface, but it is vitally important.
Property is conveyed or transferred by a Warranty Deed or a Quit Claim Deed. A warranty deed is the seller saying that they own the property where as a quit claim deed is a simple abandonment (quitting) of any interest the person may have, legitimate or not. Warranty deeds are the preferred method to take title, but a quit claim deed works in many situations. Quit Claim Deed is a giving up of all rights that you may or may not have in the property. A Quick Claim Deed is not a real thing, despite what a real estate agent may tell you.