How do you do a quick deed in tennessee?

vetqeen · Joined: 31 Aug 2008 Posts: 1 1.30 Dollars($)

My parents want to remove their name from their property and deed it to our brother. The county has informed us that we must pay some form of a tax to transfer the property. What is the easy and quick way to transfer the property. There are no liens or money owed on the property.

adonis · Posted: Sun Aug 31, 2008 9:45 pm Post subject:

Welcome Vetqeen,

So the property is free of liens. That's a good thing indeed. So, you can use even a grant deed too if there are no liens on your property. A quitclaim deed does help transfer your property but it does not guarantee that you are the legal owners of the property. It simply says that a transfer of property has taken place between you and the grantee.

jameshogg

Hi vetqeen,

When you convey property interest by quitclaim deed, the grantee or recipient will have to pay transfer tax of 37 cents for each $100 of the consideration for the transfer or per $100 of the fair market value of the property at the time of transfer. Besides, a nominal fee of $1.00 has to be paid by the grantee at the County Recorder's office.

Thanks

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