Quit Claim Deed Form
All states
People get married and buy a house. They get divorced, and one of the spouses keeps the house. Parents want to pass property on to their children and grandchildren. With all of these transfers and changes, the deeds have to change as well. Quit deed claim forms are often the easiest way to transfer property.
When to Use a Quit Claim Deed Form
There are several situations in which quit claim deed forms are commonly used. They are:
Transfers of property between family members
Transfers of property interest to a trust
Transfers of property interest to an organization or corporation
To change a name on a title
To remove a claim or cloud from a title
To fix a mistake on a property title, like a name or address not spelled correctly
Parties
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Grantor — This refers to the individual or entity transferring their ownership interest, if any, in a particular property. Under the deed, it is the grantor's responsibility to sign and deliver the printable quit claim deed to the grantee. Once the deed has been delivered and accepted, the grantor's ownership stake in the property, if any, is conveyed to the grantee. However, it's important to note that the grantor doesn't assure the validity of their property ownership or provide any warranties against liens or other claims on the property.
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Grantee — This would be the individual, group, or entity receiving the grantor's interest in the property. Upon accepting the quit claim deed blank form, the grantee gains whatever ownership interest the grantor held in the property, if any. However, since the blank quit claim deed doesn't come with warranties, the property is accepted “as is,” with the potential of existing legal claims or outstanding debts.
Key Terms
- Grantor: This refers to the individual or entity transferring the title or any interest they have in the property to another person or entity.
- Grantee: The person or entity receiving the property interest from the grantor in a quit claim deed.
- Property description: Refers to the detailed and accurate description of the property being transferred. This could include address, lot number, and any pertinent data that clearly denotes the property in question.
- Consideration: This term represents the value exchanged for the property's title. In a quit claim deed, it's often nominal or non-existent, especially when the property is gifted or transferred within a family.
- Delivery and acceptance: This refers to the act of the grantor delivering the signed quit claim deed and the grantee officially accepting it, thereby making the transfer effective. Without this mutual agreement, the transfer is not valid.
How to Write a Quitclaim Deed Form
If you have a computer and a printer, you are ready to fill out a quit claim deed template. If you want to go the formal route, you can hire a real estate attorney to help you. Bear in mind that this would add extra costs to the process.
- Prepare the document: You can either print a template out from many online sites or hire a lawyer to fill out the document for you. A free quitclaim deed template is straightforward to find. Doing it yourself will save you some money in legal fees.
- Get the required signatures: Nearly all quitclaim forms require the grantor to sign them. The grantee will need to sign the document. Usually, the grantor’s signature will have to be notarized.
- Delivery and acceptance: To be done correctly, the quitclaim form needs to be delivered and accepted by the grantee. If your state doesn’t set out what delivery and acceptance should look like, the grantor should have the grantee write that they received and accepted the document. You can refer to a quit claim deed sample for examples of suitable acknowledgment statements.
- Signatures: Once signed by everyone who needs to sign it and delivered and accepted by the grantee, the quitclaim is considered to be legally executed.
- Recording: Usually, the last step in the process is for the grantee to record the executed document at the local recorder’s office. Depending on the state, the document is not required to be recorded to be legally valid. Registering the quit claim deed can help prevent legal disputes, making utilization of an accessible quit claim deed form PDF, which can be quickly filled, shared, and recorded in a smart move.
The importance of using templates like a PDF quit claim deed cannot be overstated. These templates ensure all necessary information is included and structured correctly when transferring property rights and interests. Online quit claim deeds provide clear guidelines for both grantors and grantees, eliminating ambiguity and minimizing the risk of discrepancies that could potentially lead to costly disputes.
In short, using a blank quit claim deed form template is indispensable for maintaining the integrity of the process, clarifying every party's obligations, and promoting a smooth, transparent property transfer. It's a proven way to simplify a complex process and protect everyone's interests.
Difference Between a Quitclaim Deed and a Warranty Deed
The big difference between quitclaim deeds and warranty deeds is buyer protection. This means that quitclaim deeds don’t provide much protection for the buyer/grantee. But quitclaim deeds are popular because they are a relatively simple and easy way to sell or transfer property.
Warranty deeds are more commonly used in real estate transactions because they protect the buyer. As a result, they aren’t as simple and easy to create. For example, warranty deeds:
Does a Quitclaim Deed Contract Need To Be Notarized?
Consult the laws of your state, but quitclaim deeds need to be notarized to be executed. This can be done in person with a notary or remotely with an online notary.
Also Read
Frequently Asked Questions
A quit claim deed form pdf that includes a right of survivorship allows several parties to come into possession of and own real property jointly. So if one of the joint owners dies, the property's title will automatically go to the remaining owner who will then be the sole owner of the property. This provision allows for the surviving owner to avoid probate.
To fill out a quitclaim deed, you need to name the parties involved, the grantor and the grantee. You need to set out the purchase price or consideration, which could be a nominal amount, like $10. You also need to include a description of the property which usually consists of the address and a legal land description.
Quitclaim deeds do not affect mortgages, even if names change on titles and title ownership is transferred. After your marriage, you add your spouse to the title with your name via a quitclaim deed. This doesn’t have anything to do with your mortgage. If you want to add your spouse to your mortgage, you will have to refinance the mortgage and put it in both of your names.