Warranty and Quit Claim Deed – Know What the Difference Is, quick deed claim.#Quick #deed


Know the difference between quitclaim and warranty deeds?

Quick deed claim

What is a quitclaim deed?

A quitclaim deed is a legal document that transfers ownership of real estate from one person to another. The deed identifies who is handing over an interest in the property (the grantor) and who is accepting it (the grantee). Quitclaim deeds often are used when property isn’t sold.

  • When the owner dies and bequeaths it to an heir.
  • When the owner adds the spouse’s name to the title.
  • When a former spouse’s name is removed from the title after divorce.

Unlike a warranty deed, a quitclaim deed does not guarantee that the grantor is the rightful owner and has the right to transfer the property.

It’s not a ‘quick claim’ deed

First of all, it’s called a quitclaim deed, not a quick claim deed. You’re welcome.

What a deed is

A deed is a document that conveys, or passes, real estate from one party to another. Whether you buy a house from a stranger, inherit it from your parents or add your spouse to the home’s title, a deed accomplishes the deed of transferring the title.

What a deed isn’t

A deed isn’t a sales contract, says Jeff Eisenshtadt, president of Title Source, which provides title insurance and settlement services nationwide. A sales contract is a promise to convey property in exchange for something (usually money). In contrast, a deed isn’t a promise to convey; it is the conveyance itself.

What a deed includes

A deed contains a legal description of the real estate being transferred. In urban or suburban locales, the legal description identifies which lot the property occupies in a platted subdivision. Deeds in rural areas might use meets-and-bounds descriptions of the boundaries, which identify where the property lines are in relation to landmarks.

The deed must identify who is handing over an interest in the property (the grantor) and who is accepting it (the grantee). Most counties require the deed to have the addresses of all parties involved. And a deed wouldn’t be a deed without words of conveyance — a passage that says that the grantor intends to convey an interest in the property to the grantee.

What can go wrong

If the information on the deed is inaccurate or out of date, it can cause headaches. The legal description could be incorrect, for example, saying that the property line is 150 feet north of the house, when it’s actually 145 feet, misleading the buyer into building a fence on a neighbor’s property.

More commonly, people’s names are wrong. This often happens when a woman changes her last name after marriage or divorce. Take the example, Eisenshtadt says, of a single woman named Mary Jones who buys a house. Then she gets married, changes her name to Smith, and sells the house. If the deed doesn’t identify her as Mary Smith, formerly Mary Jones, the document has some ambiguity that would best be avoided.

What a warranty deed does

There are 2 main types of deed: warranty and quitclaim.

“A warranty deed is one in which the seller, when transferring the title to you, warrants that he owns the property free and clear of all liens,” says David Eagan, a lawyer with Eagan Matthews PLLC in East Hampton, New York.

A warranty deed is used in most sales of property. The warranty deed says that:

  • The grantor is the rightful owner and has the right to transfer the title.
  • There are no outstanding claims on the property from lenders using it as collateral, or from other creditors.
  • The property can’t be claimed by someone with a better claim to the title. If any of those claims is wrong, the buyer is entitled to compensation.

A title insurance policy backs up the claims of the warranty deed, protecting the lender or buyer from disputes about ownership or liens.

What a quitclaim deed does

A quitclaim deed typically is executed when the property isn’t sold:

  • The owner dies and bequeaths it to someone.
  • The owner adds the spouse’s name to the title.
  • A former spouse’s name is removed as part of a divorce settlement.
  • The property is transferred to a living trust.

“A quitclaim deed is a deed that says, ‘I’m not warranting what I own, but I’m transferring what I do own to you,” Eagan says. “So it’s a much lesser level of protection.”

With a quitclaim, the grantee has no legal recourse if problems with the title turn up, or if a forgotten lienholder emerges from the woodwork. There isn’t a title policy. That’s why it’s riskier. On the other hand, a lot of quitclaims are executed when the property stays in the family, and that reduces the risk.

Eagan says there also are cases in which a seller might execute a warranty deed on the main part of the property and a quitclaim deed on another part of it. This might be the case with properties that border rivers and lakes, where the owner sells underwater land and it’s not particularly clear who owns it.


Quit Claim Deed VS Warranty Deed: What – s the Difference, quick deed claim.#Quick #deed


Quit Claim Deed VS Warranty Deed: What’s the Difference?

Quick deed claim

A Quit Claim Deed Does About EVERYTHING That A Warranty Deed Does

The concern is that if a quit claim deed is obtained, that the new owner will somehow have “less than full ownership.” This is not true.

A quit claim deed, like the other deed types, transfers any and all interest in the subject property, from the person signing the deed (the grantor) to the person receiving the deed (grantee).

The Quit Claim Deed

While all deeds transfer any valid interest from the grantor to the grantee, a quit claim deed comes with no warranty of any kind. The grantor is giving the grantee any interest he may have. However the grantor is NOT saying:

-That he necessarily owns ALL the interest in the property (there may be additional owners so you’re only getting a partial interest)

-That there are no liens and encumbrances against the property

-That the grantor actually even owns ANY of the property.

You’re simply getting whatever the grantor’s interest is, if any, without any guarantees. A quitclaim deed is fine if you’ve determined on your own that the seller does indeed own the entire property (or that you have all sellers present who need to sign), and that the property is free of liens.

Special Warranty Deed

This is often given by corporations and other entities, especially after getting a property back from a foreclosure. The corporation warrants that it has compete interest in the property and that there are no existing liens DURING THE TIME THEY OWNED IT ONLY.

They do not guarantee the property in any way for the time before they purchased it. However, the title company will investigate title to its satisfaction and will not insure it unless it is clean.

Warranty Deed

This is most often given in typical real estate transactions between two owners who are getting title insurance, and probably a mortgage on the property in the case of the buyer.

The seller warrants the property against liens and incomplete ownership since the beginning of time. However, the seller’s financial ability to make this warranty isn’t typically an issue because of the title insurance being given.

Why Quit Claim Deeds are Best For DeedGrabbing

We get a quit claim deed when we give the seller a token payment to take over their unwanted property prior to the tax sale. Why? It’s unreasonable for an owner to warrant the property for ANY amount with such a low payment.

Many times the seller will even tell us about potential liens, so it would make no sense to give a warranty that there are no liens.

We need to satisfy ourselves that we’re getting the entire interest in the property, and that there are no liens, or the liens are known and acceptable. At this point, a quit claim deed is all that’s necessary for us to take over.


Can One File a Quitclaim Deed Without Refinancing the Mortgage, Home Guides, SF Gate, what


Can One File a Quitclaim Deed Without Refinancing the Mortgage?

Can One File a Quitclaim Deed Without Refinancing the Mortgage?

Filing a quitclaim deed is a right of any property owner. You can file a quitclaim deed without refinancing your mortgage, but you are still responsible for the payments. Transferring the mortgage without refinancing is possible through an assumption of the loan, which requires lender approval.

Record the Quitclaim Deed

The quitclaim deed relinquishes some or all ownership rights from an existing owner to a new owner. Quitclaims are usually used between spouses or family members as property is gifted, consolidated or otherwise divided without selling it.

The quitclaim deed itself is a simple form recorded at the county assessor’s office. It contains all description information of the property, including parcel number, physical description and legal address. The deed states who is giving and who is receiving the property, described by full legal name and how title is received. For example, it might read, “Jane P. Doering, a single woman.” A quitclaim deed is unilateral, meaning only the grantor giving the property away signs it. Quitclaim deeds are irrevocable.

In San Francisco County, the notarized quitclaim deed is recorded along with the Preliminary Change of Ownership (PCOR) form and a transfer tax affidavit. Most interfamily transfers are exempt from transfer taxes; file a notice of exemption if it applies.

Warning

Check with tax advisers regarding potential gift tax issues when transferring property as a gift.

Mortgage Considerations

The holder of the mortgage note is responsible for payments. In a quitclaim situation, transferring the note might not be relevant. For example, if a single homeowner marries, he might add his spouse to the house title via the quitclaim deed. Neither might be concerned with changing the loan. The same is true if a parent gifts a home to a child.

However, if a parent dies and the child takes over the house via quitclaim through probate, the lender will want the mortgage paid as part of closing the estate. The child can request a loan assumption, meaning taking over the terms and payments of the loan rather than refinancing.

Lenders are leery of assumptions because they don’t know the person taking over the loan. Because of this, underwriting is usually required for the new owner before the loan assumption is approved. While assuming a loan is similar in process to a refinance, the new owner/borrower assumes the existing mortgage interest rates and terms, which could be more favorable than getting a new loan.

Warning

Quitclaim deeds don’t guarantee the new owner a free and clear title. Lenders and other lien holders still maintain all legal rights to the property.


Quit Claim Deed, Form Downloads, Instructions, Recording Info, what is a quick claim deed.#What #is


Quit Claim Deed

  • Real Estate Transfers Between Family Members. Quit Claim Deeds are often used to transfer property to and from family members. Transfers between parents and children, between siblings, and between other closely related family members are easily done with this type of deed.
  • Adding Or Removing A Spouse From Title. Whether resulting from a divorce or a marriage, a real estate owner can use a quit claim deed to add a spouse to or remove a spouse from the title of the property.
  • Transferring Real Estate To An LLC Or Corporation. With holding of real estate in the protection of LLC s and Corporations becoming more common, so are quit claim deeds. Corporate transfers are usually done with this type of deed as it is generally a transfer between closely related entities.
  • Transferring Real Estate To A Trust. As with corporate transfers of real estate, transfers to a Trust are equally common. Family planning that deals with property meant to carry on through generations often involves an initial transfer from a family member into a trust.
  • Removing A Cloud On Title For Title Insurance. In the process of insuring title to real estate title companies may find a cloud in the title. Generally this means that there appears to be someone may or may not have an interest in a property that has not been accounted for and it is causing a break in the chain of title. It is common for the company insuring the title to require the person in question to quit claim their interest in the property prior to issuing the title insurance.

While each County has specific formatting requirements for the recording of documents there are main elements that are common to all real estate deeds.

  • Title. The title of a legal document tells the world what type of document it is. In this case the title is Quit Claim Deed
  • Executed Date. This is the date that the legal document was completed, signed, and executed.
  • Grantor. This is the person or persons that is transferring their rights to the real estate to someone else. For the purpose of a quit claim deed the term person can refer to a natural person, an LLC, a Partnership, a Corporation, a Trust or Trustee, or any other entity that can legally own real estate.
  • Grantee. This is the person that is receiving the rights to the real estate that are being transferred. Again here, the term person refers to any entity that can legally own real estate.
  • Habendum. This is the meat of the deed, the legal speak which actually transfers the rights to the property. Generally it is a phrase similar to: . does hereby remise, release and quitclaim unto the said Grantee forever, all the right, title, interest and claim which the said Grantor has in and to the following described parcel of land, and improvements and appurtenances thereto.
  • Consideration. This is what the Grantee gives to the Grantor in return for the rights to the property. While in some cases a deed may be enforceable without consideration it certainly muddies the water. It s a good idea to check with a tax accountant before transferring real estate with a no consideration or gift deed as there may be tax issues.
  • Legal Description. Here is where the description of the property being transferred is listed. The format of the legal description varies from state to state. The types of legal descriptions are: metes and bounds, rectangular survey, and lot and block. The lot and block legal description is the most common however it depends on your state. A typical lot and block description looks like: QCD SUBDIVISION, 2ND AMD, LOT 112 BLOCK 3 .
  • Signatures. Most states require only the Grantor to sign the deed and for it to be delivered to the Grantee for it to be valid. Grantor s signatures usually must be notarized and in some rare cases separate witnesses must also witness the Grantor signing.
  • Prepared By. This section lets the world know who prepared the quit claim deed. Generally this is the Grantor or an attorney.

Get a free quit claim deed form, quick deed claim.#Quick #deed #claim


quick deed claim

Free Quit Claim Deed Form

Quick deed claim

A quit claim deed form is a legal document used to transfer property between two or more people. Quit claim deeds are prepared by a GRANTOR the person or persons transferring interest of a piece of property and then signed over and assigned to a GRANTEE the person receiving the property.

Quick deed claimOnce signed and executed the GRANTOR quits his or her ownership or rights to the property, allowing the GRANTEE to assume those rights and the transfer of the property.

Unlike a warranty deed, a quitclaim deed form does not provide the GRANTEE warranty on the title. A quit claim deed is most often used to transfer property between family members or assign property into a trust.

Quit claim deeds come in handy during divorce proceedings and are very useful if you need to transfer property quickly. You can also use a quit claim deed if you want to give property as a gift to someone.

How to Prepare a Quit Claim Deed Form

Take a look at our sample quit claim deed form below. You can click anywhere on the form to be taken directly to our free quit claim deed form or just click here to download a quit claim deed pdf.

To fill out a quit claim deed, first you need to date the document and fill in the GRANTOR and GRANTEE names and addresses. Next, you need to add the address of the property that is to be transferred and a full description.

Then, you date the form again and the GRANTOR signs and prints his or her name in the space provided (note this must be done in the presence of a notary). And, finally, there is a space to put your state and county where the quitclaim deed form is to be filed.

That s all there is to it your part is done! The only thing left to do is to get the quit claim deed notarized.

Quick deed claim

The notary will date, sign and seal your quit claim deed and then you can take it to your county clerk s office to be recorded in the land registry. Your notary will take care of the following documentation:

Quick deed claim

Difference between a Quit Claim Deed and a Warranty Deed

A warranty deed is used when transferring ownership of property between a buyer and seller. Warranty deeds guarantee that the seller owns the property and that the title is free and clear of all claims.

A quit claim deed is also used to transfer ownership of property. However, there is no guarantee that their aren t any liens against the property. With a quit claim deed, the owner of the property quits ownership and conveys his interest in the property to someone else.

Quit claim deeds are most often used between family members when gifting property and during a divorce. Use a quit claim deed for fast transfer of property. Use a warranty deed when you buy property to make sure that the title is clear.

Why is it Called a Quitclaim Deed?

You may have heard the name called or saw it spelled quick claim deed form, quitclaim deed form, quit-claim deed form or quit claim deed form. Fact is, all of the above names for quit claim deed are okay to use. Believe me, your county clerk will know what you want if you ask for a quick claim deed.

However, the proper spelling of the document is quitclaim deed. It is called a quitclaim deed because that is exactly what it does it quits any claim or right to a piece of property a person may have.

When to use a Quit Claim Deed Form

There are many instances when a quit claim deed can be used to transfer property fast. A quit claim deed can be filled out online and printed quickly. You can use a quit claim deed form to:

  • Remove someone s rights to the property during a divorce.
  • Gift a piece of property to a family member or some other person.
  • Buy or sell real estate with your business.
  • Correct the way a name is spelled on a previous written deed.
  • Clear any leftover interest in a piece of property
  • Transfer property into a trust.
  • Clarify the ownership of property in a marriage and more.

Do I Need a Lawyer to Fill Out a Quit Claim Deed?

No, you do not need to hire an attorney to fill out a quit claim deed. That being said, there is no substitute for good legal advice. If you have questions about your specific situation, we strongly suggest that you consult an attorney. If you know what you need, though, feel free to follow the link below:

Quit Claim Deed Sample

Quit claim deeds are used to transfer ownership of real estate between two parties. You can download our free quit claim deed sample form instantly today below.

Quit claim deeds are most commonly used to assign ownership of property when the property is gifted. For example, parents often elect to use a quit claim deed to give property to children. Quit claim deeds are commonly used by family members to transfer real estate when warranty deeds are not needed.

Once signed, witnessed and sealed, a quit claim deed gives the grantor the right “quit” his or her interest in the property, thus transferring ownership in the property to the grantee. Whether it s called a quit claim deed, quitclaim deed or quick claim deed, it does the same thing.

Download a Quit Claim Deed Sample Form

You can use our sample quit claim deed for practice before filling out your original deed. Fill free to copy or download our quit claim deed sample form below:

Quick deed claim

To prepare your quit claim deed, date the form and fill in the grantor and grantee section and enter the address and a full description of the property to be transferred.

Next, the grantor takes the deed to a notary to sign and seal it. Once notarized, your quit claim deed should be taken to the county clerk s office to be filed.

How to File a Quit Claim Deed

To file a quit claim deed, take the original deed to your courthouse and go to the county clerk’s office. It could also be called the county recorder or deed registry office – it’s wherever the land records are kept in your county.

For a small fee, the county clerk will make a copy of your quit claim deed form and sign, stamp and date the two deeds. The clerk will then give the original back to you and file the copy in the local land records to record the deed.


Warranty and Quit Claim Deed – Know What the Difference Is, what is a quick


Know the difference between quitclaim and warranty deeds?

What is a quick claim deed

What is a quitclaim deed?

A quitclaim deed is a legal document that transfers ownership of real estate from one person to another. The deed identifies who is handing over an interest in the property (the grantor) and who is accepting it (the grantee). Quitclaim deeds often are used when property isn’t sold.

  • When the owner dies and bequeaths it to an heir.
  • When the owner adds the spouse’s name to the title.
  • When a former spouse’s name is removed from the title after divorce.

Unlike a warranty deed, a quitclaim deed does not guarantee that the grantor is the rightful owner and has the right to transfer the property.

It’s not a ‘quick claim’ deed

First of all, it’s called a quitclaim deed, not a quick claim deed. You’re welcome.

What a deed is

A deed is a document that conveys, or passes, real estate from one party to another. Whether you buy a house from a stranger, inherit it from your parents or add your spouse to the home’s title, a deed accomplishes the deed of transferring the title.

What a deed isn’t

A deed isn’t a sales contract, says Jeff Eisenshtadt, president of Title Source, which provides title insurance and settlement services nationwide. A sales contract is a promise to convey property in exchange for something (usually money). In contrast, a deed isn’t a promise to convey; it is the conveyance itself.

What a deed includes

A deed contains a legal description of the real estate being transferred. In urban or suburban locales, the legal description identifies which lot the property occupies in a platted subdivision. Deeds in rural areas might use meets-and-bounds descriptions of the boundaries, which identify where the property lines are in relation to landmarks.

The deed must identify who is handing over an interest in the property (the grantor) and who is accepting it (the grantee). Most counties require the deed to have the addresses of all parties involved. And a deed wouldn’t be a deed without words of conveyance — a passage that says that the grantor intends to convey an interest in the property to the grantee.

What can go wrong

If the information on the deed is inaccurate or out of date, it can cause headaches. The legal description could be incorrect, for example, saying that the property line is 150 feet north of the house, when it’s actually 145 feet, misleading the buyer into building a fence on a neighbor’s property.

More commonly, people’s names are wrong. This often happens when a woman changes her last name after marriage or divorce. Take the example, Eisenshtadt says, of a single woman named Mary Jones who buys a house. Then she gets married, changes her name to Smith, and sells the house. If the deed doesn’t identify her as Mary Smith, formerly Mary Jones, the document has some ambiguity that would best be avoided.

What a warranty deed does

There are 2 main types of deed: warranty and quitclaim.

“A warranty deed is one in which the seller, when transferring the title to you, warrants that he owns the property free and clear of all liens,” says David Eagan, a lawyer with Eagan Matthews PLLC in East Hampton, New York.

A warranty deed is used in most sales of property. The warranty deed says that:

  • The grantor is the rightful owner and has the right to transfer the title.
  • There are no outstanding claims on the property from lenders using it as collateral, or from other creditors.
  • The property can’t be claimed by someone with a better claim to the title. If any of those claims is wrong, the buyer is entitled to compensation.

A title insurance policy backs up the claims of the warranty deed, protecting the lender or buyer from disputes about ownership or liens.

What a quitclaim deed does

A quitclaim deed typically is executed when the property isn’t sold:

  • The owner dies and bequeaths it to someone.
  • The owner adds the spouse’s name to the title.
  • A former spouse’s name is removed as part of a divorce settlement.
  • The property is transferred to a living trust.

“A quitclaim deed is a deed that says, ‘I’m not warranting what I own, but I’m transferring what I do own to you,” Eagan says. “So it’s a much lesser level of protection.”

With a quitclaim, the grantee has no legal recourse if problems with the title turn up, or if a forgotten lienholder emerges from the woodwork. There isn’t a title policy. That’s why it’s riskier. On the other hand, a lot of quitclaims are executed when the property stays in the family, and that reduces the risk.

Eagan says there also are cases in which a seller might execute a warranty deed on the main part of the property and a quitclaim deed on another part of it. This might be the case with properties that border rivers and lakes, where the owner sells underwater land and it’s not particularly clear who owns it.


Quit Claim Deed Information, quick claim deed for property.#Quick #claim #deed #for #property


Quit Claim Deed Information

A quitclaim deed is often incorrectly referred to as a Quick Claim Deed. The confusion comes from the fact that quit and quick sound so much alike and.

Certain life events, like marriage and divorce, bring on name changes. When real estate is owned by a person who is changing their name it is good ide.

The divorce is a most heart rendering and difficult time for both the husband and wife and it brings with a whole lot of complications when the relati.

An unrecorded quit claim deed is still valid. While there is no time limit on recording a deed or recording required for a quit claim deed to be valid.

A timeshare is an ownership interest in a property and that interest can be transferred to another person with a quitclaim deed. It is common to ha.

Every divorce procedure entails the involvement of a massive amount of paperwork and if it concerns property and its division, then there is another p.

Use of quitclaim deed during a divorce is very common – if a married couple who jointly own a property are in the process of divorce one spouse can qu.

A quitclaim deed is considered “executed” when the Grantor signs the deed AND the grantee accepts delivery of the deed. Each state has their own laws .

Divorce is tough enough by itself and even worse when real estate is involved. It is important to try and not let the emotional process get in the way.

If You Need To Add, Change Or Delete A Name: This can only be done by recording a new deed showing the change. Many people think they can simply go.

When a Quit Claim Deed is Deemed Recorded Generally, a Quit Claim Deed is recorded when it is duly acknowledged or verified and deposited in the .

It’s best to be First in the “Race Recording” Because of the recording of instruments of conveyance or encumbrance/lien, purchasers (and others dea.

Principles of Acknowledgment on a Quit Claim Deed Transaction Based – The signer’s acknowledgment references a Quit Claim Deed Document that is re.

Both a Quit Claim Deed and a Warranty Deed are legal documents used to transfer property rights. A quit claim deed transfers only the interest in a.

Yes. A Limited Liability Company (LLC) is a business entity that can own real estate. A quit claim deed can be used to transfer the title, and effecti.

What Does Conveyance of Property mean? A “conveyance” is the transfer of an interest in real property from one person to another. The moment that .

Adding A Spouse To Your Real Estate Title After Marriage: Before the Marriage one person most likely has sole ownership of a house. After the marri.

Definitions and meaning of different kinds of ownership when filling in a Quit Claim Deed. As a property or homeowner, your Quit Claim Deed can def.

A quit claim deed is a very useful legal document, however, there are times when a quit claim deed should not be used. For example: If you are pur.

There are certain requirements and some can vary state to state, but those can be found by calling Your County Clerk’s Office. The Contact Informat.

A Quit Claim Deed is commonly used in a Divorce. It works well to release one persons Property rights over to the other spouse. A Quit Claim Deed is.

When a Title Company checks a title to insure it is legitimate and unencumbered occasionally a Cloud will show up. A cloud is any sort of unreleased .

In Most States a Quit Claim Deed is still binding even if it has not been recorded. There are many reasons that make it prudent to record. When a Q.

It is very common to use a quit claim deed during a divorce. Generally in a divorce one party to the divorce is going to retain the property. A quit c.


Quit Claim Deed VS Warranty Deed: What – s the Difference, quick claim deed for


Quit Claim Deed VS Warranty Deed: What’s the Difference?

Quick claim deed for property

A Quit Claim Deed Does About EVERYTHING That A Warranty Deed Does

The concern is that if a quit claim deed is obtained, that the new owner will somehow have “less than full ownership.” This is not true.

A quit claim deed, like the other deed types, transfers any and all interest in the subject property, from the person signing the deed (the grantor) to the person receiving the deed (grantee).

The Quit Claim Deed

While all deeds transfer any valid interest from the grantor to the grantee, a quit claim deed comes with no warranty of any kind. The grantor is giving the grantee any interest he may have. However the grantor is NOT saying:

-That he necessarily owns ALL the interest in the property (there may be additional owners so you’re only getting a partial interest)

-That there are no liens and encumbrances against the property

-That the grantor actually even owns ANY of the property.

You’re simply getting whatever the grantor’s interest is, if any, without any guarantees. A quitclaim deed is fine if you’ve determined on your own that the seller does indeed own the entire property (or that you have all sellers present who need to sign), and that the property is free of liens.

Special Warranty Deed

This is often given by corporations and other entities, especially after getting a property back from a foreclosure. The corporation warrants that it has compete interest in the property and that there are no existing liens DURING THE TIME THEY OWNED IT ONLY.

They do not guarantee the property in any way for the time before they purchased it. However, the title company will investigate title to its satisfaction and will not insure it unless it is clean.

Warranty Deed

This is most often given in typical real estate transactions between two owners who are getting title insurance, and probably a mortgage on the property in the case of the buyer.

The seller warrants the property against liens and incomplete ownership since the beginning of time. However, the seller’s financial ability to make this warranty isn’t typically an issue because of the title insurance being given.

Why Quit Claim Deeds are Best For DeedGrabbing

We get a quit claim deed when we give the seller a token payment to take over their unwanted property prior to the tax sale. Why? It’s unreasonable for an owner to warrant the property for ANY amount with such a low payment.

Many times the seller will even tell us about potential liens, so it would make no sense to give a warranty that there are no liens.

We need to satisfy ourselves that we’re getting the entire interest in the property, and that there are no liens, or the liens are known and acceptable. At this point, a quit claim deed is all that’s necessary for us to take over.


How to Prepare – Record a Quit Claim Deed, Home Guides, SF Gate, quick claim


How to Prepare Record a Quit Claim Deed

Quick claim deed for property

A quit claim deed is a quick way to transfer ownership of property.

Quit claim deeds are used to quickly transfer ownership of real property from one person to another. These deeds typically do not guarantee that the title to the real estate, or the history of past ownership, is correct, and do not address all liens or other issues affecting the property. This means the grantor, or giver, of the deed is not promising the property is free of all legal problems that may arise the next time the real estate is sold. Quit claim deeds are generally used in situations where the transfer is a gift, or when a couple divorces and one person takes sole ownership of jointly owned real estate.

Obtain the proper form. You can obtain a blank deed form at a legal form website or from your local legal document print shop. Quit claim deeds in California must contain specific phrases. General wording includes “forever quit claim” and the “release” of the property. Wording in the deed is important, as a change in wording can alter the type of deed being prepared.

Obtain the legal description of the property. A legal description is a paragraph that describes property measurements in legal real estate documents. If you have the current deed to the property, you may be able to use the description from the document if nothing has changed. You can go the recorder’s office in the municipality where the property is located to get a copy of the deed, if needed.

Type or write all the information on the blank deed. The existing owner on title files the quitclaim and is the only person required to sign it. Be sure to spell all names correctly, and insert your legal description. The grantor, or the person who is transferring the ownership of the property, must sign this document in front of a qualified notary.

Insert any special clauses. You need to note any conditions of, or specific reasons for, the quit claim transfer after the legal description. These clauses may include information about a current lien on the property or anything else the property is subject to, such as restrictions imposed by the original builder. For a divorcing couple, insert a sentence that indicates the property is being transferred due to a matrimonial or property agreement.

Go to the appropriate recorder’s office. You will need to have the money or check for the filing fees with you in order to record the deed. The fees depend on how many pages your deed is and the price the property is being sold or transferred for. You will need to fill out a preliminary change of ownership report, or PCOR, form when recording your deed. This document, used to calculate any transfer tax you may have to pay, includes questions about the buyer, the seller, the property and the sales price. PCOR forms are available at no charge in the recorder #039;s office as long as you are filing a deed together with the PCOR.

Contact a real estate attorney with any questions. A quit claim deed is a legal transfer of ownership once the document is recorded. If you are unsure about any part of the preparation or recording process, it may be best to seek legal advice.

Warning

While the owner can quit legal claim, it doesn’t guarantee a free and clear title. If a mortgage exists, a “due on sale” or “loan assumption” should be explored. Talk to the lender.


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quick claims deed

Free Quit Claim Deed Form

Quick claims deed

A quit claim deed form is a legal document used to transfer property between two or more people. Quit claim deeds are prepared by a GRANTOR the person or persons transferring interest of a piece of property and then signed over and assigned to a GRANTEE the person receiving the property.

Quick claims deedOnce signed and executed the GRANTOR quits his or her ownership or rights to the property, allowing the GRANTEE to assume those rights and the transfer of the property.

Unlike a warranty deed, a quitclaim deed form does not provide the GRANTEE warranty on the title. A quit claim deed is most often used to transfer property between family members or assign property into a trust.

Quit claim deeds come in handy during divorce proceedings and are very useful if you need to transfer property quickly. You can also use a quit claim deed if you want to give property as a gift to someone.

How to Prepare a Quit Claim Deed Form

Take a look at our sample quit claim deed form below. You can click anywhere on the form to be taken directly to our free quit claim deed form or just click here to download a quit claim deed pdf.

To fill out a quit claim deed, first you need to date the document and fill in the GRANTOR and GRANTEE names and addresses. Next, you need to add the address of the property that is to be transferred and a full description.

Then, you date the form again and the GRANTOR signs and prints his or her name in the space provided (note this must be done in the presence of a notary). And, finally, there is a space to put your state and county where the quitclaim deed form is to be filed.

That s all there is to it your part is done! The only thing left to do is to get the quit claim deed notarized.

Quick claims deed

The notary will date, sign and seal your quit claim deed and then you can take it to your county clerk s office to be recorded in the land registry. Your notary will take care of the following documentation:

Quick claims deed

Difference between a Quit Claim Deed and a Warranty Deed

A warranty deed is used when transferring ownership of property between a buyer and seller. Warranty deeds guarantee that the seller owns the property and that the title is free and clear of all claims.

A quit claim deed is also used to transfer ownership of property. However, there is no guarantee that their aren t any liens against the property. With a quit claim deed, the owner of the property quits ownership and conveys his interest in the property to someone else.

Quit claim deeds are most often used between family members when gifting property and during a divorce. Use a quit claim deed for fast transfer of property. Use a warranty deed when you buy property to make sure that the title is clear.

Why is it Called a Quitclaim Deed?

You may have heard the name called or saw it spelled quick claim deed form, quitclaim deed form, quit-claim deed form or quit claim deed form. Fact is, all of the above names for quit claim deed are okay to use. Believe me, your county clerk will know what you want if you ask for a quick claim deed.

However, the proper spelling of the document is quitclaim deed. It is called a quitclaim deed because that is exactly what it does it quits any claim or right to a piece of property a person may have.

When to use a Quit Claim Deed Form

There are many instances when a quit claim deed can be used to transfer property fast. A quit claim deed can be filled out online and printed quickly. You can use a quit claim deed form to:

  • Remove someone s rights to the property during a divorce.
  • Gift a piece of property to a family member or some other person.
  • Buy or sell real estate with your business.
  • Correct the way a name is spelled on a previous written deed.
  • Clear any leftover interest in a piece of property
  • Transfer property into a trust.
  • Clarify the ownership of property in a marriage and more.

Do I Need a Lawyer to Fill Out a Quit Claim Deed?

No, you do not need to hire an attorney to fill out a quit claim deed. That being said, there is no substitute for good legal advice. If you have questions about your specific situation, we strongly suggest that you consult an attorney. If you know what you need, though, feel free to follow the link below:

Quit Claim Deed Sample

Quit claim deeds are used to transfer ownership of real estate between two parties. You can download our free quit claim deed sample form instantly today below.

Quit claim deeds are most commonly used to assign ownership of property when the property is gifted. For example, parents often elect to use a quit claim deed to give property to children. Quit claim deeds are commonly used by family members to transfer real estate when warranty deeds are not needed.

Once signed, witnessed and sealed, a quit claim deed gives the grantor the right “quit” his or her interest in the property, thus transferring ownership in the property to the grantee. Whether it s called a quit claim deed, quitclaim deed or quick claim deed, it does the same thing.

Download a Quit Claim Deed Sample Form

You can use our sample quit claim deed for practice before filling out your original deed. Fill free to copy or download our quit claim deed sample form below:

Quick claims deed

To prepare your quit claim deed, date the form and fill in the grantor and grantee section and enter the address and a full description of the property to be transferred.

Next, the grantor takes the deed to a notary to sign and seal it. Once notarized, your quit claim deed should be taken to the county clerk s office to be filed.

How to File a Quit Claim Deed

To file a quit claim deed, take the original deed to your courthouse and go to the county clerk’s office. It could also be called the county recorder or deed registry office – it’s wherever the land records are kept in your county.

For a small fee, the county clerk will make a copy of your quit claim deed form and sign, stamp and date the two deeds. The clerk will then give the original back to you and file the copy in the local land records to record the deed.