California  |  Real Estate Law

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8/24/05, 2:06 pm

Legal Question


What is the difference between a quick claim & a grant deed?

I asked my escrow company to draw up a quick claim to take my Ex-Fiance off of the property that we had purchased together. Most of the downpayment was provided by the sale of my former house. My ex-fiance agreed to sign off of the house. When he went to the escro company, they had prepared a Grant Deed that stated ''This is a boafide gift and the grantor receved nothing in return R&T 11911''. My question is, what is the difference between the quick claim and a grant deed? Since it is stated that it is a gift will I have to pay a gift tax? When I called the escrow company, they said that the grant deed is a more secure form. If that is so why do people mostly do quick claims and what are the benefits between the two. Don't understant....please help.


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