What is Quit Claim Deed Form?
There are numerous terms used in the real estate world that is misunderstood or go over the head of common people. Quitclaim deed is yet another term that means a legal document where a grantor gives up all his interest in the property or real estate and grants a person from the family or from outside to have the rights of the property and become the new owner. A quitclaim deed form is an application or an officially permitted paper that can explain an individual’s concern in his or her property to another person.
With the help of a quitclaim deed form, the rights get transferred but at the same time, being a grantor, you cannot make any warranties of the property any longer. When a grantor signs the quitclaim deed form, he or she is removed from her interests, and they are transferred directly to the grantee in the very instant. It is considered as the quickest and the simplest way to transfer your interests of real estate to your trusted person as a grantee.
The quitclaim deed form consists of questions like:
- grantor and grantee’s names.
- Addresses of the grantor and the grantee.
- Date and a respective location.
- Witness details with their signature.
- Signature of both the parties.
The quitclaim deed forms can also be used in divorces like when you haven’t sold your house, signing on the quitclaim deed can help you in saving the house. The quitclaim deed form can also be signed in the form of tax deed sales like when the property has been termed for an auction by the government that doesn’t have a claimed interest, selling the government all the taxes, you can transfer the interest to a respective buyer.
How to Create QuitClaim Deed Form?
Before knowing how to create a quit claim deed form, you have to understand what quit claim is. It is a document in which a person who is interested in real property likely transfers this piece of interest to another. The quitclaim deed is attained to introduce a person who is not your family member to your home or any other property. It is in frequent use when couples get married, and among them, one is interested in transferring any interest to the other spouse in the property.
Benefits if a quit claim deed
- It is a wonderful tool for real property which is owned free, and it is a type of a deed that is an excellent means of giving real estate properties to the family members such as handing over the crown of censorship before the owner dies or wants to live free of the stress of handling businesses.
- The quitclaim deed can be a legal procedure with or without the involvement of real estate. It means that a person can donate or sell his rights to the respective property for a subsequent cost with the help of a quitclaim deed.
- A quitclaim form can be bought from the local real estate offices if one cannot make it of their own. The quitclaim deed that has been signed is the simplest and the most effective way among all the others to give up all interests in properties and real estate.
How to Create a QuitClaim Deed Form – Quick and Easy Guide:
To make a quitclaim deed, you will have to download a county-specific quitclaim deed form. This quitclaim form can be brought from the local real estate offices as well if you do not want to get into the internet world for downloading. The quitclaim form is then supposed to be filled out with every detail asked regarding grantors, grantee, property, etc. it is crucial that you mention the names of the current property owners and the grantees otherwise it will be considered removal of the existing ones.
If you doubt that your form is not filled accurately, you can take the help of real-estate lawyers who can review and proofread the quitclaim form for you. When the reviewing is done, you need to put your signature on the form and later has to be acknowledged in the presence of public notary depending on the state.
When you sign the deed, it is then sent to the legal representative to sign and seal and make the deed legal and valid. When it is recorded, a soft copy of the deed is then sent to the grantor, grantee, and the insurance company as well. In most of the cases, the quitclaim with a signature is the simplest and the most effective way to give up your interests in the real-estate properties. Later, the deed is recorded at the land records departmental office in the county where the property is situated.
Quitclaim deed and foreclosures:
When you give up on all the rights on your property, you basically will notice that you are no longer responsible for any tax payment notices or anything related to the property, in short, you hand over the property and forget about it in all means. It is often seen that foreclosure of the property takes place because of the past due payments of mortgage or past due property taxes that result in this sort of the document being filed. Along with this, in most of the divorce cases, this type of the document is implemented to terminate the rights of one spouse and give all the rights to the other partner.
Where can Quitclaim Deed be Implemented?
As a property owner, when you realize that you are unable to maintain your property or make any more payments further, it is best recommended for you to find an ideal grantee that can take care of your property both physically and financially. This will enable you to maintain a good credit score at the same tie help you relieve the debt as well. If you are a married woman and you want to get rid of the parental property by delivering your interests to your siblings, you can take the help of quit claim deed form and transfer the whole or a part of the property to them easily.
Where do I go to get a quit claim deed?
A quitclaim deed is known as a legal instrument which is used to transfer the interest in the real property. The transferring of the interest is known as the grantor. When the quitclaim is deed properly, then they are completed and also executed which helps in transferring any type of interest in the grantor which has present in the property of the recipient. As it is seen it has a quitclaim deed which contains no title covenant. As a result, it offers the grantee with no warranty for the status of the property title. The grantee is only entitled to the interest which grantor has possessed at the time of the transfer occurs.
Why do we use the Quit Claim Deed?
If you are to sell a home, at that time you need some valid documents. If you can’t remember the document what you have signed or received a deed when you have purchased the property, then you need a warranty deed or quitclaim deed. This will provide you with the proof of the ownership which also can help in transfers the title that you regardless of the person that owns the property before you.
There are two types of deeds to transfer the ownership, which are:
- Warranty Deed:
It is used most of the time in real estate sales transactions, a warranty deed. It says that grantor is the owner of the property who has right to transfer the property to you.
- Quitclaim deed:
It is used when the property transfers the ownership without being sold. In this, no money is involved, nor is no title search done to verify the ownership.
Where to go to file the Quit Claim Deed?
When you want to transfer the ownership of the property quickly, then it is relatively easy to fill a quit claim deed which is said to be one option. You can do this by the below ways.
- You can consult an Attorney when you are going for the filing a quit claim deed.
- You need to get the quit claim deed form from different sources like Rocket lawyer or Real estate attorneys.
- Before going for the deed, you need to gather the information.
- The next thing is to gather the witnesses as well as a notary.
- At last, you need to complete the form.
Is it legal?
When you get a deed, it may document a claim of having the ownership which does not guarantee actual ownership which is as old jokes about the selling or buying. There are many types of deeds which allow the recourse against the grantor which is certain subsequent title problems which have occurred.
Quitclaim deeds are used to release the ownership rights which is in the context of property settlements. This is said to be the fundamental attribute of the quitclaim deed which is recognizable by the word quitclaim which is present in the document. It is always recommended that you should always consult an experienced legal professional for the property.
How do you file a Quitclaim Deed?
The quitclaim deed is an instrument which is used to transfer an interest in the property. The entity that transfers the interest is known as the Grantor, and the recipient of the grantor is known as the grantee. There is no title covenant in the quitclaim deed, and hence there is no warranty offered by the grantor to the grantee.
The grantee can only have access to the interest which is possessed by the grantor at the time of the transfer of property. As it has no warranty and thus these quitclaim deeds are mostly used between the family members. In some cases of jurisdiction, the quitclaim deeds are used in the actual document.
These deeds are also found to be widely used in the case of the divorced couples. The deed has to be done in a written form and has to be mandatorily signed before a notary. And the deed must be accepted by the grantee and the grantor and is to be recorded in the concerned department.
How to file a quit claim deed?
There are some steps required to be followed to file a quit claim deed which is discussed below:
- Check the laws properly:
The very thing that has to be done first thing is to check the laws regarding the quitclaim deeds. Collect information to have detailed information about the deed. You can also check all the online information available, or you can either refer the books relevant for this purpose.
- Purchase the deed:
You can buy a quit claim deed from any nearby bookstores. There is also an easy option to buy the quit claim deed online. There are online quit claim deeds available, and you have only to download that. Take care of the small mistakes of any spellings. Things any go wrong then.
- Fill information:
There are many important things in the form of the quitclaim deed like there has to be the name of both the grantor and the grantee, the purchase amount has to be also mentioned if there is any. A nominal amount is mentioned in the case of the gifts. There is also a description of the property along with the name of the chief administration localized place where the property is located.
The signature of the grantor is a must in the form of the quitclaim deed, and this should be done very carefully. There is also a mandatory requirement of the signature of the notary public. In some states, there are some additional requirements too like in some place the signature of the grantee, as well as the signature of the witness, is also quite a necessary thing which has to be there in the quit deed form.
- Complete the legalities:
The local administration department which deals with the information related to the properties needs to be contacted by you after the form fill up is completed successfully. And further, you have to get the legal description of the property which is to be dealt in the deeds. The property document varies quite often from one state to the other. But all the kinds of the document has the detailed legal information of the property.
- File the deed:
The last step is to file the claim with the county. Some fees are charged, or taxes are also imposed at times. After that, the copy has to be delivered to the grantee.
How does a Quit Claim Deed work?
A quitclaim deed is an instrument used for transfer of interests in the real properties. This deed offers a warranty, and thus this kind of deed is used by the family members while the transfer of some properties. This has been found to be mostly used by the divorced couples. Filing of the quitclaim deeds is very easy and can be done in the following steps:
- Have all the information about the laws of the quitclaim deed:
This is a must that you should go through all the laws of the quitclaim deeds. You can avail all the information regarding the quitclaim deeds in some books available in the market. You can also easily find the online information of this matter. But you must know well all about the quitclaim deed.
- Purchase the deed:
The very next step is to purchase the deed from any bookstore nearby, or you can also go for a very easy option that is you will have the deed online, and the only thing you will need is to download it.
- Fill out the information is necessary:
The form has to be filled up with utter care. There several things which are essential to be filled up like the legal name of the grantor and the grantee has to be mentioned clearly in the form. If there is any purchase amount that also needs to be mentioned in the form. The nominal price is most of the time mentioned in the cases of the gifts.
The legal description of the property also has to be mentioned with the name of the county. The signature of the grantor and the nominee is a must. At times there are some other things required which are often observed to vary in different states like in some states there is also a necessity of the signature of the grantee and the witness.
- Complete the legal works:
The next step is to contact the county and get the legal description of the property which is exposed to the deeds. The document has detailed information of the property. The property document varies in different states, but all have the detailed legal information of the property in it.
- File the deed:
File the deed in the county and then handle the copy to the grantee.
Does Quitclaim Deeds work?
People think that the quitclaim deeds should not be accepted as it does not offer warranties. There is some situation in the life when the property has to be dealt with the one to whom we bear immense trust. Like there are times when we have to transfer some properties to our family and close relatives like the siblings or parents or family friend.
In such case, there is a bond of trust between the grantee and the grantor. So in such cases, there is no use of the warranty. Thus the quitclaim deeds are preferred by the people who want to transfer their properties to some close family friends and relatives. This is mostly found to be preferred by the divorced couples.