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Quitclaim Deed: Document transferring property-interest
A Quitclaim deed is a legal document that transfers your interest in the property (house, land, mobile home, etc) to another individual. 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 warranties of any kind on the property.
To help you get a clear idea of what a quitclaim deed (often misspelled as quick claim deeds or quit claim deeds) is, I have divided the information into different sections: How to make the deed validIn most states, only the grantor and not the grantee sign the Quitclaim deed form as prepared by an attorney. But there are some states which do require the grantee to sign the deed. After the grantor signs the deed, a notary public should sign and stamp it without which the deed is not taken as valid.
At present, only a few states like Arkansas, Georgia, Michigan, Ohio, South Carolina and Vermont require the deed to be signed by witnesses other than the notary public to make the quitclaim valid. Officials from states other than where the property is located can also notarize the deed. This however depends upon the County Recorder of that state. The deed is then recorded at the land records office in the county where your property is located. The Office is called the County Recorder's Office, County Clerk's Office, Register of Deeds, and Land Registry Office depending upon the state where you own the property. After being recorded, a copy of the deed is sent to the grantee, the grantor, and title insurance company. When to use quitclaim deedA quitclaim deed is commonly used in the following situations:
Life estates and quitclaim deedsEven 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.
Reverse/undo quitclaimOnce 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...
A quitclaim deed 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. Related Forum Discussions
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