Quitclaim pdf

Whether or not the deed is required to be signed by one 1 or two 2 witnesses depends on the state statutes in which the property is located. The section at the bottom of the second 2nd page is to be completed by a Notary Public only. No information needs to be or should be entered into this section by the grantor or preparer. Quit Claim Deed Forms. Email Delivery. Word Download.

RTF Download. What is the Purpose of a Quitclaim Deed? What is Included in a Quitclaim Deed? The deed has four 4 general purposes, which are: 1. Transfer property among family members Due to the limited protections offered by the deed, it is most commonly used for transferring property among family members, such as a parent to a child.

A cloud on title can be caused by: A public records error, Formatting requirements not being property followed, A spelling mistake, Another person who was previously unknown having an interest ownership in the property, or A boundary or survey dispute. Transfer property to subsidiaries In addition to being used as a means of transferring residential property, quitclaim deeds can be used for commercial property as well.

A quitclaim deed should include the following information: The names, addresses, and marital statuses of the Grantor and Grantee, The amount of consideration in dollars , A legal description of the property, The type of title the grantee will hold e.

The form will also need to be signed and acknowledged in accordance with state law requirements. Namely, it should be clear that the deed cannot offer the grantee s any of the following in regards to the title of the property: Guarantees, Warranties, Covenants, or Promises. Conveyance Quitclaim Laws: By State The following are the conveyance and quitclaim statutes of all fifty 50 states. Is a quitclaim deed safe? Can a quitclaim deed be revoked?

Can a quitclaim deed be filed after death? Where can I get a quitclaim deed? Can a quitclaim deed stop foreclosure? For this reason, grantees are urged to take the following precautions before using the form: Perform a title search. It will also establish whether or not there are any other parties who hold interest in the property as well as identify any clouds errors on the title.

Only execute this form with someone that can be trusted. Given the risks involved, it is strongly advised that the grantee already has an already established relationship with the grantor. Common examples include a parent and child, siblings, spouses, close friends, former spouses, and business partners. Do not use the form for conveyances that involve large sums of money: As the grantor is not liable in any way, if it turns out that there is a problem with the title, the grantor is not legally obligated to return any money the grantee paid for the property.

As such, it is safest for only a nominal amount of money to be exchanged during the conveyance. Although it is possible for the grantor to have an outstanding mortgage on the property, a deed involving a mortgage can quickly become messy.

Even if the grantor will retain their liability to the mortgage, there is a high chance of complications occurring, such as the mortgage having a due-on-sale clause, which makes it so the full loan would be due upon the title being transferred. Warranty Deed Template The other main type of deed form, the warranty deed, contains warranties guarantees that the title is clear and that the grantor has the right to sell the property to the grantee s.

Step 5 — Property Address Enter the full address of the property being quitclaimed to the grantee. Step 6 — Grantor Signature s In this section, the grantor or grantors, depending on if there are one 1 or two 2 of them will need to write their signature s , printed name s , address es , and phone number s.

Step 7 — Witness Signature s Here, the witness es to the deed, much like Step 6, will need to write their signature s , printed name s , address es , and phone number s. Step 8 — Notarization The section at the bottom of the second 2nd page is to be completed by a Notary Public only.

Title 35, Ch. Title 28, Ch. Title 89, Ch. NRS New Hampshire. New Mexico. North Carolina. Rhode Island. Title 27, Ch. South Dakota. Title 3, Ch. Unlike general warranty deeds and special warranty deeds, a quitclaim deed makes no guarantees about title.

Example: Ashley sells Florida real estate to Brett and uses a quitclaim deed to transfer title. After the sale, Brett learns that Ashley sold the property to Claire one year before he sold it to Ashley.

Because Ashley conveyed the property by quitclaim deed, Brett cannot sue Ashley for breaching the warranty of title although he may sue her on other grounds, such as fraud. Had Ashley used either a warranty deed or a special warranty deed to transfer the property to Brett, Brett could have sued Ashley for breaching the warranty of title in the deed.

But because Ashley used a quitclaim deed, Brett has no recourse against Ashley based on the warranty of title. As stated above, the distinguishing feature of a quitclaim deed is the lack of a warranty of title. That is a separate issue from when the quitclaim deed takes effect. There are other forms of deeds—including life estate deeds and lady bird deeds—that are named after their probate avoidance features. The terms lady bird and quitclaim deal with different features that are not mutually exclusive.

This means that a Florida lady bird deed can also be a Florida quitclaim deed. Because quitclaim deeds provide no warranty of title, they are often used when the parties know each other. There are several common scenarios where this occurs. There are other situations where the current owner does not want to be responsible for any title issues. This is almost always the case when the current owner is not being paid for the property. Quitclaim deeds are rarely used in the sale context unless accompanied by a title insurance policy to protect against any unknown title issues.

Quitclaim deeds are also used to avoid probate. One common way is to create a right of survivorship. A right of survivorship can be established by titling the property as joint tenancy with right of survivorship or, for a married couple, as a tenancy in common. The last person to survive will own the entire property. Rights of survivorship are used when the parties intend for all owners to have present ownership of the home.

Both tenancies in common and joint tenancies with right of survivorship give all joint owners immediate ownership rights. Each owner has an immediate ownership interest in the property. To mortgage, lease, or sell the property, all owners must consent.

In other cases, the current owners may not want the new owner to inherit an interest in the property until the current owners die. In this situation, a Florida lady bird deed technically called an enhanced life estate deed can provide a better option.

A Florida lady bird deed allows a property owner to create a transfer that takes effect at death—without the need for probate—while reserving broad ownership rights during his or her life. Quitclaim deeds are created by specific language that appears in the granting clause in the body of the deed.

This language—even more than the title of the document—is what identifies a deed as a quitclaim deed. Although the granting language may look similar to the language used in a general warranty deed or special warranty deed, slight differences can have significant consequences. If the deed contains a warranty—in other words, if it is a general warranty deed or special warranty deed—there is usually a warranty clause near the bottom of the deed that spells out this warranty.

This language usually states that the transferor will defend the title to the property. For quitclaim deeds, this verbiage may be replaced with language that identifies the transfer as a quitclaim deed. Either way, a properly-drafted quitclaim deed will include no language that would make the transferor responsible for any title defect.