![]() While quitclaim deeds place the risk of title defects entirely on the new owner, other Oklahoma deed forms allow the current owner to assume some or all of the risk. 15 In some cases, a would-be owner with a defective title does not legally own the property at all. Potential title defects include outstanding liens and mortgages, an unclear chain of title, and bona fide ownership claims of third parties. A title defect is a problem with a property’s title that reduces its value or marketability. 14Ī quitclaim deed’s lack of warranty means the new owner bears all risk of title defects. 13 What sets apart a quitclaim deed is that it transfers the property interest with no warranty of title from the current owner. 12 Two other deed forms recognized under Oklahoma law- general warranty deeds and special warranty deeds-also convey the property owner’s entire interest. ![]() Oklahoma quitclaim deeds convey a property owner’s entire interest in real estate to the new owner identified in the deed. 11 How do Oklahoma Quitclaim Deed Forms Relate to Other Forms of Deeds? In Oklahoma, release deed is more often used to describe the recorded instrument formally releasing a mortgage than as a synonym for quitclaim deed. 10 Release deed is typically used when the person signing the deed is giving up a claim on the property or surrendering a partial interest to another owner. Release deed can be a synonym for quitclaim deed in some contexts. 8 Oklahoma legal professionals also use the word quitclaim as a verb indicating that an owner is transferring an interest without warranty. 7 The alternative spellings quit claim deed and quit-claim deed are generally acceptable-though used less frequently. Oklahoma’s real estate statutes and Oklahoma courts call a deed that transfers real estate without warranty of title a quitclaim deed. 6 Other Names for an Oklahoma Quitclaim Deed Form The parties can agree to limit the interest transferred by a quitclaim deed through express language in a deed. 5 A deed in the prescribed form and that otherwise meets all legal requirements transfers without warranty of title all title, rights, and interest that the current owner has the power to transfer. The Oklahoma Legislature provides a statutory short form for quitclaim deeds that provides the vesting language to include in the deed (along with the other requirements of Oklahoma law). 4 The new owner, though, cannot sue the current owner for breach of warranty if the transferred interest ends up being invalid or flawed. A quitclaim deed effectively transfers whatever interest the current owner can transfer when signing the deed-including any interest that vests in the future. 3 Because an Oklahoma quitclaim deed conveys real estate with no warranty of title, the new owner receives the real estate essentially as-is. Warranty of title is the current owner’s guaranty that a deed conveys valid title free of undisclosed title defects-such as liens or third-party claims. 1 An Oklahoma quitclaim deed form is a type of deed that transfers whatever interest the property owner currently holds with no warranty of title. Just complete a user-friendly interview and get a customized deed that is attorney-designed to meet Oklahoma recording requirements.Īn Oklahoma real estate owner transfers title to a new owner by executing and recording a signed, written deed. Need to create an Oklahoma quitclaim deed?
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