How to Prepare & Record a Quitclaim Deed
A quitclaim deed is a legal document that transfers all rights, title and interest of a piece of real property to another party. As the term implies, the owner literally "quits" his claim to it. The most common reason to prepare and record a quitclaim deed is to transfer ownership between family members. However, quitclaim deeds are also used to transfer property to a living trust or business entity, or to satisfy a tax debt or the terms of a divorce settlement. In addition, a quitclaim deed can be used to simply add or remove an individual from the property title.
Other People Are Reading
Instructions
-
Prepare the Deed
-
1
Obtain a quitclaim deed from a legal supply store. This form will have blanks in all the appropriate places, so all you have to do is fill them in. You will also need an "acknowledgment" form to be signed by a notary public. Depending on your state, these forms may come bundled or are included in the same document.
-
2
Fill in the blanks on the form accordingly. The typical components of the deed include the names of the parties, the address of the property being transferred, the amount of "consideration" or monetary exchange for the interest, and a legal description of the property. Many deeds of this type are completed with a consideration of "$1.00" simply to show a value since the property is being transferred and not sold. The legal description is taken verbatim from the property title and will include the section-block-lot of the property and the latitudinal and longitudinal coordinates that outline its boundaries. The description may be typed onto the deed in the space provided, or it may be attached as a separate paper with the indication "See Annexed" in the designated space on the deed.
-
-
3
Check with your county clerk to find out who is required to "execute" or sign the deed. In the U.S., most states require the signature only of the "grantor" or seller. However, some states also require the signature of the "grantee," or the person receiving interest in the property. A handful of states, including Ohio, Vermont and Michigan, also require the signature of two witnesses who are not a party to the transaction. (See Resources for a sample deed that includes witnesses.)
-
4
Have all required parties sign the deed before a notary public. If you are using an attorney, she is entitled to act in this capacity providing she is licensed to practice law in the state where the property transfer is taking place.
Record the Deed
-
5
Take the prepared quitclaim deed to your county building for recording. Usually, this is done in the county clerk's office. However, in some municipalities, a different department may handle land records.
-
6
Pay the recording fee. This fee varies but is typically based on a flat fee plus an additional fee for each page to be recorded.
-
7
Wait for your deed to be returned to you after recording. The time frame varies, but deeds are usually recorded and validated with a county seal within a few weeks.
-
1
Tips & Warnings
Unlike other kinds of deeds, a quitclaim deed does not guarantee that the owner has clear title to the property or that others do not have an interest in it.
If you prepare a deed with a property description attached to it, separating the two after the deed has been signed may void the deed. This applies to many legal documents, such as wills.
References
Resources
- Photo Credit real estate image by Andrei Merkulov from Fotolia.com
