8 Oregon courts favor the term quitclaim deed, and release deed is relatively uncommon in Oregon. Quitclaim deeds are sometimes called release deeds-especially when a part-owner is releasing an ownership interest in favor of another owner. Quickclaim deed is not an actual legal term. 7 Quit claim deed is an acceptable spelling, though less commonly used in Oregon. 6 Quitclaim can also be a verb-as in, a property owner quitclaims an interest in real estate to a new owner. Oregon statutes use the term quitclaim deed to describe a deed that transfers an owner’s current interest in real estate with no warranty of title.
5 Other Names for an Oregon Quitclaim Deed Form 4 An Oregon quitclaim deed does not transfer an interest that vests in the current owner after the date of the deed. Unless a lesser interest is specified, an Oregon quitclaim deed conveys the current owner’s entire interest in the real estate as of the date of the deed. 3 It means that the new owner bears the risk of loss if a title defect emerges. 2 Because an Oregon quitclaim deed provides no warranty of title, the current owner makes no representations about title defects.Ī quitclaim deed’s lack of warranty does not necessarily mean the current owner doubts the property’s title is clear. Potential title defects could include liens, mortgages, an unclear or defective chain of title, or an adverse claim against the property.
OREGON QUIT CLAIM DEED FORM FREE
1Ī warranty of title is the current owner’s legally enforceable promise that title to the transferred real estate is free from title defects. When executing an Oregon quitclaim deed, the current owner ( grantor) transfers ownership to a new owner ( grantee) with no warranty of title. Just complete a user-friendly interview and get a customized deed that is attorney-designed to meet Oregon recording requirements.Īn Oregon quitclaim deed form is a written instrument that conveys a property owner’s current interest in Oregon real estate.
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