If you’re going through a divorce, planning your estate or getting married and need to transfer real estate property, a quitclaim deed may be your best alternative. A quitclaim deed (also known as quick claims, quickclaims or quit claim”) is a legal document that you can use to release your ownership rights of property when there is no question regarding ownership. You as a “grantor” would release your specific rights over to a “grantee.” It’s cost efficient and a “quick” way to transfer ownership.
QuitClaim Deed Components
Typically, a quitclaim deed will involve the following components:
Grantor – Current property owner and their mailing address
Grantee – The individual who will receive the property and their mailing address
Consideration – An amount paid by the grantee to a grantor for property — not always needed
Legal Description – Written description of the property being transferred
Land Parcel Number – The number assigned by a tax assessor that is listed on a property tax statement
Preparer – Name of person who prepared the quitclaim deed
Witnesses – Name or names of individuals who witness the quitclaim deed – not always required
Notary – A notary public is required to verify the authenticity of signatures used on a quitclaim deed
When you fill out a quitclaim deed, there will always be a grantor and grantee. However, you won’t need a consideration if money isn’t being exchanged for the transfer of property. A legal description will include the land parcel number as well as other details. It should be copied word for word from the last deed that was recorded for the property that’s being transferred. It’s also a good idea to verify and check the description from the last deed with any other deeds that have been previously recorded. If you don’t have a deed available to copy from, you’ll need to access the recorder’s office and do some research.
How To Find A Quitclaim Deed Form
You can find a free quitclaim deed form online by choosing your favorite search engine and conducting a search. You’ll be able to download and print your quitclaim deed via a PDF file or Word document.
After you’ve obtained your free quitclaim deed form and written down the appropriate components, it must be signed by the grantor, grantee, witnesses (if required in your county) and notarized. It can then be taken to a local county recorder’s office and filed. The grantor will keep a copy of the recorded deed and the original will be given to the grantee.
Why Use A Quitclaim Deed?
There are many common scenarios in which you would use a quitclaim deed:
Marriage – When a woman or man wants to include their spouse on the title of real estate property that they own
Divorce – When a spouse relinquishes their ownership rights in a property during a divorce settlement
Estate Planning – Easily transfers real estate property to a trust
Title Defect – Cleans up possible errors or typos that may exist on a current deed
Public Auction – When property is exchanged between two parties who want to declare liability
Consider using this legal form for quick transfer of property the next time that you have a need to do so.