People use a quit claim deed form, or quitclaim when they want to sell a piece of property without producing any proof of ownership. The quitclaim deed form is the document that witnesses the transfer of ownership from the grantor to the grantee without offering any warranty that there aren’t any liens on the property and without any guarantee that they actually own the real estate piece.
Compared to the General Warranty Deed or the Special Warranty Deed, there is no question this one is much riskier. The general provisions usually apply in all states, but it’s still a good idea to check with local authorities before writing the document. Some states require the presence of two witnesses and that you get the document notarized.
What Is a Quit Claim Deed?
The quit claim deed form is the document that you use to record the transfer of ownership from the seller, also called grantor, to the buyer, also called grantee, with the specification of the fact that the seller offers no warranty that they are valid owners.
It’s a risky type of transaction, that’s why people only use it when they buy from someone they closely know and trust, like a family member or a close friend.
What Can I Use a Quitclaim Deed for?
A first glance at the quitclaim deed form reveals its highly risky nature since no warranty is involved. In general, it makes no sense to choose a form of transaction that doesn’t include any guarantee. Even so, there are quite a few situations when using a quit claim form is a practical choice.
These are the main situations when people get free printable quit claim deed forms and use them for a transaction:
- When they transfer ownership from one family member to another
- To correct a mistake on the title
- When you need to remove a person from the title, usually a spouse
- To avoid the challenges of the probate process by transferring into a living trust
Who Needs a Quit Claim Deed Form?
The quick claim deed form is mostly used by family members who want to transfer a property from one to another. The transfer can be between a parent and a child if the child is an adult, or between siblings or other types of relatives.
A person can benefit from the quitclaim deed form when they get married and want to add their new spouse as a co-owner. It’s also a useful form when a couple gets divorced, and one of them needs to be removed from the title.
Another frequent use of the quit claim deed form is when a person wants to leave property to a relative, and they try to save money and time with the probate process at the time of their death. If there are no other relatives that can contest the living trust, the whole probate process can be avoided with this form.
What Elements Must Be Included in a Quit Claim Deed?
Although it may seem too risky for many people, the quitclaim deed form proves to be very useful in many situations. That means it must be written with a lot of care, especially if you will also get it notarized, so it’s best to use a quit claim deed template. To make sure your document is complete and efficient, verify that it includes the following elements:
- The identifying information of the person who creates the document: name and address
- The identifying information of the person to whom the deed will return to once filled, usually the buyer: name and address
- The state and county where the real estate piece is located
- The price; if the property is offered as a gift, mention a price of $1.00
- The identifying information of the grantor and the grantee: name, address, marital status, and email address
- The legal description of the property
- The name, address, and signature of all the parties involved, including witnesses
- The mentions and the state seal of the notary public
Contrary to expectations, given that it involves a risky transaction, the quit claim deed form is quite beneficial in many situations. If you need to issue such a document, especially if you need to get it notarized, it’s best to create it using a free printable quit claim deed form. CocoSign offers extremely efficient templates and any other document you may need to create. They are all user-friendly and efficient.
Quit Claim Deed FAQs
What is the consideration in a quitclaim deed form?
The consideration is the price of the property.
What is the legal description?
The local authorities usually release the legal description, and it consists of tax map/lot numbers, deed book, and page numbers, parcel identification number.
Who is the preparer of a quitclaim deed?
The preparer is the person who creates the document.
Do I need witnesses to a quitclaim deed?
It depends on the state where the property is located. Before issuing the document, check to see if witnesses are mandatory.
Where do I record the quitclaim deed form?
Once you have issued and signed the document, you need to take it to the Registry of Deeds, or any other town/county office.
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