Which type of deed is typically not accepted unless under specific circumstances?

The quitclaim deed is typically not accepted unless under specific circumstances due to its nature of conveying property rights. Unlike warranty and special warranty deeds, which offer certain guarantees about the title, a quitclaim deed transfers any interest the grantor has in the property without making any assurances regarding the quality of that interest. This means that it does not guarantee that the grantor actually owns the property or that there are no other claims against it.

Because of this lack of assurances, quitclaim deeds are often used in situations where the parties know each other well and trust each other, such as transfers between family members or to clear up title issues. However, most third parties, such as banks or new buyers, may not accept a quitclaim deed for transactions that involve financing or require clear title due to the absence of protections typically provided in warranty deeds. This makes the quitclaim deed less ideal for conventional real estate sales, thus necessitating specific circumstances for acceptance.