Quitclaim Deed FAQ United States
Title is the sum of all elements that provide the legal right to control and to dispose of property. It can also refer to a legal document, such as a deed, that serves as evidence of ownership in the property.
A quitclaim deed conveys only whatever interest the Grantor has in the property, without making warranties about rights that other people may have in the property. It is usually used when granting land between two people that are well acquainted, such as between divorcing spouses or family members. In contrast, a warranty deed conveys title to a grantee with a guarantee of good clear title to the property free from any interests held by other people. Warranty deeds are the traditional form of deed used in residential home sales between unrelated parties, as it provides a degree of protection to purchasers that the quitclaim deed does not offer.
As a property or homeowner, your deed defines the form of ownership and how the title for the property changes upon the death of an owner. The most common types of ownership are: sole ownership; joint tenancy; right of survivorship; tenancy in common; and tenancy by the entirety.
Fee simple refers to the most extensive interest that a person can have in a parcel of land. The holder of a fee simple has complete ownership with unconditional powers of disposition during the owner's life, and upon death, the property descends to the owner's designated heirs.
Sole ownership is exclusive ownership. An ownership so complete that no other person has any interest in the property.
Joint tenancy is an undivided interest in property, taken by two or more joint tenants. The interest must be equal, accruing under the same conveyance, and beginning at the same time. Upon the death of a joint tenant, the interest passes to the surviving joint tenants, rather than the heirs of the deceased. This type of ownership is commonly used by couples who want the surviving partner to receive ownership of the deceased's share of the property.
However, some states have statutory provisions which deem joint tenancies to be severed upon the death of one joint tenant, unless the joint owners have agreement in writing stating otherwise. Other states have abolished the recognition of joint tenancy all together and will treat all instances of joint tenancy as tenancy in common. It is important to understand how a specific state's statutory provisions will affect the ownership rights of both joint tenants and tenants in common and then plan your affairs accordingly.
Right of survivorship is the right of a survivor to receive the property of the deceased. In general, it is the difference between joint tenancy and tenancy in common. Note that some states do not recognize joint tenancy or do not deem tenancies to be severed upon the death of an owner.
An undivided ownership in real estate by two or more persons. The interest need not be equal, and in the event of the death of one of the owners, there is no right of survivorship in that owner's interest. Instead, the deceased's interest will pass to his or her heirs.
A form of ownership by husband and wife whereby each owns the entire property. Neither spouse can deal the property without the consent of the other. One main benefit is that the creditors of one spouse cannot enforce against the property held in tenancy by entirety unless the non-debtor spouse dies first. In the event of death of one spouse, the survivor owns the entire property without the need for probate. However, it will be difficult to transfer the property if one spouse disappears or becomes incompetent since the other spouse cannot sever tenancy by entirety unilaterally.
This is a form of joint tenancy available only to spouses in certain states. Each spouse owns 50% of the property as well as any debts that each spouse may have incurred. Upon the death of one spouse, the survivor will receive the deceased's interest without probate. However, community property provides less protection to individuals than tenancy by the entirety since debtors can enforce against the property because debt is also considered community property.
Joint tenancy is a form of co-ownership where the surviving joint tenant immediately acquires a fee simple interest in the property upon the death of the other joint tenant. Tenancy in common is a different form of co-ownership, where the survivor does not acquire the deceased tenant's interest, but instead the deceased's interest passes according to his or her will. A tenancy in common is presumed to be created by a deed transferring property to 2 or more people, who are not husband and wife. The best way to achieve joint tenancy is through the use of a Survivorship Deed.
The Grantor is the person who bestows or gives the possession of something. In the case of a transfer of property by deed, the Grantor is the person who gives interest that he or she holds in the property to someone else. Generally, the Grantor section should include everyone whose name is currently on the title of the property that is being transferred.
The Grantee is the person who receives the grant. In the case of a transfer of property by deed, the Grantee is the person who receives interest of the property from the Grantor and should include everyone, whose name will be on the title of the property once it has been transferred.
Be aware that a person can be both a Grantor and a Grantee on a deed. For example, if John Smith currently holds title to a home and he wants to convey half interest of that family property to his wife, Mary Smith, John Smith would be listed as the Grantor, and John Smith and Mary Smith would be listed as the Grantee.
A Notary Public is a state-appointed official who is authorized to authenticate certain legal documents, such as declarations, acknowledgments, deeds, mortgages, and other contracts. Most real estate deeds are notarized by attorneys.
Generally speaking, Homestead Property is real estate occupied by a person as his or her home or dwelling place.
Grantee's assigns refers to any person that the Grantee transfers the property to, after having received the property from the Grantor.
Some counties and/or states require that these stamps be placed on a deed to evidence that it complies with the local land recording laws. These stamps will be attached at the time of recording, and there is nothing that the parties need to do prior to recording the deed to satisfy this requirement.
The consideration entered on a deed document should be the actual value paid by the Grantee to the Grantor in monetary terms. If no consideration is being provided, such as in the case of a gift, then $10.00 can be entered as the standard consideration.
A Well Disclosure Certificate is required to be attached to a deed in the state of Minnesota if the property being transferred contains new wells that were not listed on the previous Well Disclosure Certificate. This document does not need to be included with a deed if the property does not contain any wells, or if all of the wells have already been disclosed on a prior certificate.
This office is referred to by different names in different states, such as County Clerk's Office, Register of Deeds, or Land Registry Office. It is where quitclaim and warranty deeds are registered.
It is a form created by the Kansas Department of Revenue that is designed to help study the relationship between assessed and market values of property. It is a required form for real estate transactions involving land located in Kansas, unless the property qualifies for an exemption.
"Curtesy" is a legal term meaning the common law property rights that a man is entitled to upon the death of his wife, in any property that she owned or had fee-simple rights to during her life, provided they have had lawful children born alive which might have been capable of inheriting those rights. It is a freehold estate for the term of the husband's life. This word is different than the commonly used variant courtesy which relates to showing manners.
If you are legally separated, you are still considered as married.
You should be able to obtain the complete legal description of your property from the County Recorder's Office by providing your municipal address or tax parcel number.
This number is a 10-12 digit number that identifies ownership and assessed values of property for taxation purposes. The number can be obtained from your Tax Statement, Revaluation Notice, or Personal Property Listing Form.
Information pertaining to prior grants of your property (such as the book and page number it was recorded on) can be obtained from the County Recorder's Office.
No, if you own and reside in more than one property, you must select one of these properties which will be considered your homestead.
The state of Hawaii uses Tax Map Key Numbers to identify the location of Hawaiian property. It is a five digit number where the first number represents which island the land is on, the second shows the zone of the island, the third indicates the section within a zone, the fourth number is the parcel, and the fifth is the plat where the land is located. You can find your Tax Map Key Number on your property assessment notice, or by contacting the Real Property Assessment Division of your county.
While a quitclaim can NOT be used to transfer title to a trust, the [warranty deed] can be used by individuals and/or corporations to transfer property to a trust. To transfer property to a trust using the warranty deed, you will need to know the name of the trust, when it was created, and the number and name of the trustee(s).
No, a deed to a trust is a warranty deed where property is transferred from an individual or corporation to a trust. The term "Deed of Trust" refers to a document utilized in some states that serves the same role as a mortgage, whereby a trustee holds land as security for a debt. No title to land is actually transferred in a Deed of Trust.
No, you need to use a survivorship deed to transfer rights of survivorship, where the parties will hold the property as joint tenants, with the survivor taking a fee simple interest in the property upon the death of the other party.
Regardless of the consideration you are receiving, you must file a deed with the County Recorder's Office to show that title has been transferred. You would use $10.00 as the consideration.
Yes, for the purposes of deeds, a limited liability corporation is treated the same as an ordinary corporation, and can be either the Grantor or the Grantee.
Yes, you can do this by listing yourself as the Grantor, and both you and the other person as the Grantees. Each Grantee would receive an equal share of the property. For example, if there are three Grantees including yourself, then each Grantee will receive a one-third interest in the property.
No, personal representatives should use a Personal Representative, Transfer on Death, or Beneficiary Deed to convey land to the heirs of the deceased individual.
No, a quitclaim deed conveys only the interest that a person has in a piece of real property. It does not make assurances that no one else has an interest in the land. If a subsequent claim which is not listed on the title is made against the land, the Grantor of a quitclaim is not liable for any such imperfections in title.
Quitclaim deeds are frequently used when the parties are well acquainted with each other, such as in the case of divorcing spouses. The quitclaim deed provides a quick and easy transfer of title without guaranteeing that there are no other claims that are going to arise against the land in the future.
If you plan to quitclaim the home to your wife, and both of your names are on the property's title, ensure that both husband and wife are listed as Grantors. The person who will be receiving the home will be listed as the Grantee, which will be the wife in this example.
To include a new person as an owner of a property simply include all present owners under the grantor section then in the grantee section include all present owners along with the new person. To remove a person from a deed, enter all present owners under the grantor section then in the grantee section include all present owners except the person to be removed.
The County Recorder who will file the document requires a 2-3 inch margin at the top of the document so that they can affix a stamp, filing number or some other form of information to help identify and record the deed. Do not write in this space.
Most states recognize notarization of land transfers by officials from other states, but you should contact the County Clerk's Office where the land is located to be sure that they will allow transfers of property located within their borders to be notarized in another state. Our deeds allow for inter-state notarization by enabling you to select in which state you will have the deed notarized, regardless of the location of the property.
No, most states do not require that the Grantee sign a quitclaim deed. However, some counties do require that the deed be signed by the Grantee in addition to the Grantor.
Usually, the deed would be sent to the Grantee after it has been recorded. However, any person or corporation can be designated as the recipient of the recorded deed, such as the Grantor, a Title Insurance company, or another interested party.
Yes, after the Grantor signs the deed, he must get it signed and stamped by a notary public to verify that the Grantor's signature is authentic before it can be filed with the County Clerk's Office.
After a deed is signed and notarized, it should be filed at the land records office in the county where the property is located. This office is referred to by different names in different states, but is usually called the County Clerk's Office, County Recorder's Office, Register of Deeds, or Land Registry Office.
Currently, only Arkansas, Georgia, Michigan, Ohio, South Carolina, and Vermont require that witnesses sign deeds in addition to a notary public in order for deeds to be valid. However, in some states, specific counties require that deeds be witnessed. You should check with your local county recorder's office to determine if witnesses are required.