When someone wants to sell a property in the state of Arizona without providing proof of ownership, they use an Arizona quit claim deed. It’s a formal document used to transfer a real estate property to a new owner with the mention that you offer no warranty concerning the title.
What you are transferring is your interest in the piece of real estate, without any evidence to the extent of that interest. For that reason, the quit claim deed Arizona form is mostly used by members of the same family when trust isn’t an issue.
What Is an Arizona Quit Claim Deed?
The Arizona quit claim deed is a type of deed that implies high risk. The grantor offers their interest in the piece of property without any evidence to back it up. The grantee has no warranty and no way of knowing with certainty that their proprietorship won’t be challenged in the future.
Although it may look too risky to be worth it, the Arizona quit claim deed form is used quite frequently. There are many instances, mostly among members of the same family, when they need to transfer a piece of property to a relative or remove one from the title. If they trust their relative enough to accept this type of deed, they benefit from lower costs to transfer ownership.
When to Use a Quitclaim Deed in Arizona?
When someone in Arizona wants to transfer real property rights to another individual, company, or organization, without providing the title, they use the Arizona quit claim deed. The missing title is not the only reason to use this type of deed.
It’s a simple document with low requirements and lower taxes, so it’s used in quite a few situations. But all these situations have one thing in common: the mutual trust between the two parties. These are the situations when the quit claim deed Arizona is most frequently used:
- People can use the Arizona quit claim deed form if they need to add, change, or delete a name on the title. That usually happens when the name is misspelled, or as a result of a marriage or a divorce. However, in this latter case, the deed can only be used if the name was legally changed
- It can be used to transfer property to or from a living trust
- If there are two co-owners of the real estate piece, one can use the Arizona quitclaim deed to transfer their interest in the property to the other co-owner
- If you are the only owner of a property, you can turn it into a co-ownership, by adding another party
- Parents can use this deed to transfer pieces of property to their children
What Information Is Included in an Arizona Quit Claim Deed?
The quit claim deed Arizona form is pretty straightforward if you are already familiar with the concepts of grantor and grantee. But it is a formal document that also needs to be notarized, so it has to be written with attention to details.
Whether you use a template or simply write it from scratch, these are the main elements every Arizona quitclaim deed must include:
- At the top part of the document, there’s a section called ‘Prepared by’ – that’s where you write the name and address of the preparer, the person who is creating the Arizona quit claim deed form
- Also, at the top, you will find the section ‘After recording return to’ – that’s where you write the full name and residence address of the person who will receive the quitclaim deed once it’s registered. This address must be complete and correct, to make sure the County Clerk can mail it to the right person
- The County in Arizona where the property is located
- The price of the property, or the consideration
- The identifying information of both the grantor and the grantee: full name, and address of residence, including County, City, and State
- The legal description of the property
- The names and signatures of the grantor and the grantee
- The notary public has to make the final mentions in the document and affix their state seal
Once notarized, the Arizona quit claim deed must be taken to the County Clerk, where you will have to pay the registration fees. Those fees differ from one County to another, so it’s best to check before going there.
Any grantee using a quit claim deed Arizona form knows that they are buying a piece of real estate without any warranty that the seller is valid. For that reason, the document is usually used among close family members or in situations when trust isn’t an issue.
Even so, it’s still a formal document that will be checked by a notary public, so it needs your full attention. To make sure you are writing an accurate Arizona quit claim deed, write it using the template we have created at CocoSign. All the templates we offer are professionally created and efficient.
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