what are the downsides of a quitclaim deed? Taxes for the grantor? Property assesment for the grantee?

A grant deed automatically by statute includes warranties by the grantor/seller. The seller automatically warrants that it owns the property and has the right to sell it and that the grantor did not grant any easements, liens or any other rights against the property while the grantor owned the property. A quitclaim deed does not include any of those warranties. The tax authorities don't care about the difference. If transfer taxes are owed on the recording of the transfer, it doesn't matter which type of deed is used. If the transfer is not exempt from re-assessment for purposes of deteriming real property taxes, again the type of deed doesn't matter. If you appreciate this free advice, please remember to refer me to any friends or acquaintances who need a lawyer. Referrals are still our best source of new business. Do you have a revocable living trust to protect your heirs against probate? Probate takes forever, is expensive, and is annoying. Do your family a favor. Set up a trust, and put all your property, especially any real property, into the trust. Since it is revocable, you can change it, add to it, take property out of it, or even cancel it completely, at any time. We set up such trusts, provide a pour-over will as a back-up for any property that does not make it into the trust, provide you with blank durable powers of attorney for health care and financial decisions, in case you become incapable of making such decisions while still alive, and convey one piece of real property to the trust, usually the family home, for $1500.00. If you would like to hire me to do this, let me know, and I'll send you a list of the information I need. Dana Sack