Property Ownership
A Utah quitclaim deed is commonly used for all of the following EXCEPT:
ACorrecting a name error in a previously recorded deed
BTransferring property between spouses in a divorce
CProviding a buyer with a full warranty of marketable title✓ Correct
DClearing a cloud on title by having a claimant release their interest
Explanation
A quitclaim deed provides no title warranties. It is useful for clearing title issues, family transfers, or corrections—but not for providing a buyer with the assurance of marketable title that a warranty deed offers.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
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