Quitclaim Deed: A Document that transfers property-interest

A quitclaim deed is a legal document that transfers your interest to another individual in the property such as

• House - A building for human habitation
• Land - A place which can be used for habitation, investment or any other purpose
• Mobile home - A movable house that is parked in a place

The person giving the property is called the ‘grantor’ while the one who is getting the property is called the ‘grantee’. With a quitclaim deed, the interest is transferred, but the grantor makes no promise that the property is free of any liens. Before transferring any property through this agreement, consult an attorney and know about the possible consequences of such property transfer.

To help you get a clear idea of what a quitclaim deed (often misspelled as quick claim deeds or quit claim deeds) is, the whole information is divided into different sections:

• When to use quitclaim deed
• 6 Steps to follow in a quit claim deed
• Life estates and quitclaim deeds
• Reverse/Undo quitclaim
• Top 21 FAQ on Quitclaim Deeds

A quitclaim deed is commonly used in the following situations:

1. In a divorce, when an ex-spouse transfers ownership of the property to the other.
2. A spouse may add other spouse's name to the property title after marriage only by issuing the spouse a deed.
3. When property is purchased, at closing the interest is transferred from the seller to the buyer through a deed; the parties may use a quitclaim, general warranty, or special warranty deed.
4. If the previous property owner has retained some interest in the property, a quitclaim deed will transfer that interest to the new owner.
5. A person planning a will or a living trust can use the document to transfer ownership of the property into a trust or the person they want to inherit the property.
6. Parents willing to transfer the ownership in a property to a child or a relative before the property gets stuck in a probate.

Preparing a quitclaim deed is very easy. Here are some quick steps to do so.

1. First of all, obtain a quit claim deed form. You can get the form online. You can also obtain it from the office of the local county recorder.
2. Fill in the names of the grantor and the grantee. If possible address of both the parties has to be filled in.
3. Signature of the grantor should be there in the form. In some states, signatures of both the grantor and the grantee are required.
4. A public notary should verify the signature of the grantor. Generally, the grantor has to sign the deed in front of a public notary.
5. A legal description of the property is a must. This is because of the fact that without the legal description, deed can’t be recorded in the recorder’s office.
6. In order to make the deed valid, it should be recorded in the recorder’s office.

Even after transferring a property through quitclaim, you can have the right to stay there till your death. This is possible only if you retain a life estate for yourself. A life estate is a kind of estate where you retain interest in the property for your lifetime, and specifically name the person to whom the property is to go to immediately after your death.

Once you have signed a quitclaim, the only way to get the property back is to have the grantee quitclaim it back to you or prove the transfer was invalid. If you can prove that you signed the deed under threat, external pressure, or the grantee made you sign by telling you false information, then you can have the quitclaim deed invalidated. The best way to get help invalidating the deed is to consult a lawyer in your state. Learn more...

This legal document is a good way to transfer property if you are transferring it between family. The best way to transfer property to or from someone who is not family is to use a general or special warranty deed which gives the buyer warranties as well as transfers property.