If that owner owns a 50 percent interest, he or she only transfers 50 percent interest. And with a quitclaim deed, you can't go back to the seller and claim he represented anything with respect to the transfer of the land.
With a warranty deed, you as the new owner of the land, could sue the former owner if he were to transfer to you title to the home and that title turned out to be "bad". A warranty deed by its own terms tells the future ownerthat the title to the home is being transferred to the new owner in a certain condition, and if that representation turns out to be false, the new owner has a claim against the old owner.
A quiteclaim deed allows you to step into the former owner's shoes, and you are free to own or sell the home in the same manner as the previous owner.
One last item to keep in mind: if you receive a home as a gift, when you sell the home, you will need to determine what the home's value is to you--the tax basis of the home. Your tax basis will be whatever your seller's tax basis was. If your seller bought the home for $50,000 and installed a new roof, replaced the windows and put on new siding at a cost of $10,000, your cost basis for the home would be the same as his, $60,000.
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