Selling Your Home

If you are in the market of purchasing or selling a home, it is likely that you will come across many different documents of a wide variety, each of these will likely have different uses, functions, and names associated with it. When selling or buying a home two documents that are misunderstood the most are called quit claim deed and warranty deed. People tend to believe that both forms are exactly alike, well I am here to tell you differently.

Warranty Deed

This document is a deed that is presented to you by the seller and can be used in a wide variety of transactions that involve sales. This warranty basically tells you that the property being sold is indeed owned by the seller and that there are not any types of liens placed upon it, essentially saying it is free and clear. This assures the buyer that the seller has all legal rights in transferring ownership to them without any type of holdings on it. This means that there are no claims that could be made by anyone that may include financial institutions or otherwise, on this property. With the warranty deed, the buyer is protected by the court of law if the claims should prove to be false or the event occurs when someone does have the ability to place claim on the property. The law states that in either of these events, the buyer would be entitled to compensation of some form. It is seldom that the warranty deed will not be coupled with an insurance policy on the title, so the buyer is assured a free and clear title.

Quit Claim Deed

This deed is on the opposite end of the spectrum from the warranty deed. The quit claim deed, is generally presented to you by a seller who likely does not personally own the property in question, however, they do have some responsibility over it. There are a variety of reasons that a quit claim deed can be used this can include, when the actual owner has died but has left the property in question to a friend or family member. Additionally, it can be used when a couple has gotten married and the spouse wants to include the other party on the title. This type of deed does not offer the same type of assurances to the buyer as the warranty deed does, it is for this reason that this is typically used when the sale will occur within the family.

Posted by Jennifer Karlen on February 15, 2009 at 07:03 AM

About Jennifer Karlen
Jennifer Karlen is affliated with REMAX Properties East, which is located in Anchorage, KY. For further assistance please use the contact information located on the right.

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Local Information for Anchorage, KY

Latitude: 38.26537 -- Longitude: -85.537571

ZIP Codes for Anchorage, Kentucky	40223
Area Code for Anchorage, Kentucky	502
Time zone for Anchorage, Kentucky	EST

Other Area Cities: Shelbyville, KY Fern Creek, KY Anchorage, KY Louisville, KY Okolona, KY Jeffersontown, KY Saint Matthews, KY Rolling Fields, KY Norbourne Estates, KY Windy Hills, KY Prospect, KY Hurstbourne, KY Douglas Hills, KY Fisherville, KY Buechel, KY

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Anchorage is a city in eastern Jefferson County, Kentucky, United States. The population was 2,264 at the 2000 census. According to the 2004 census, the city had a population of 2,500. The land that is now Anchorage was a part of Isaac Hite's 1773 land grant, which awarded most of the land in today's Jefferson County to officers in the Virginia militia, in exchange for their service in the French and Indian War. Early maps refer to the area as Hite's Mill. Part of his original grant now makes up the grounds of Central State Hospital and E.P. "Tom" Sawyer State Park. The nautical name is a bit odd, considering the city is over twelve miles from the Ohio River. It is taken from the name of the home of riverboat captain James W. Goslee, and was chosen to honor him when the city incorporated in 1878, three years after his death. Tradition says that an anchor hanging inside the rim of a locomotive wheel at the center of town was taken by Goslee from his ship, the Matamora. -- Source: Wikipedia.com

Kentucky 2000 Census Population Profile Map

	Anchorage	Kentucky	United States
Population	2,264	4,041,769	281,421,906
Median age	40.2	35.9	35.3
Median age for Male	40.7	34.6	34
Median age for Female	39.7	37.1	36.5
Households	729	1,590,647	105,480,101
Household population	2,253	3,926,965	273,643,273
Average household size	3.09	2.47	2.59
Families	644	1,104,398	71,787,347
Average family size	3.33	2.97	3.14
Housing units	750	1,750,927	115,904,641
Occupied units	729	1,590,647	105,480,101
Vacant units	21	160,280	10,424,540

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Selling Your Home

Local Information for Anchorage, KY

Latitude: 38.26537 -- Longitude: -85.537571

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