Posted on: 05th Jun, 2005 10:42 pm
A quitclaim deed is a legal document that transfers your interest to another individual in the property such as
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:
- 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
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
A quitclaim deed is commonly used in the following situations:
- In a divorce, when an ex-spouse transfers ownership of the property to the other.
- A spouse may add other spouse's name to the property title after marriage only by issuing the spouse a deed.
- At the time of purchasing a property, ownership is transferred from the seller to the buyer. For such transfer, parties involved may use a quitclaim, general warranty, or special warranty deed.
- Sometimes, previous owner of the property may retain some ownership interest in the property. This interest can be transferred to the new owner with the help of a quitclaim deed.
- 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.
- Parents willing to transfer the ownership in a property to a child or a relative before the property gets stuck in a probate.
6 Steps to follow in a quit claim deed
Preparing a quitclaim deed is very easy. Here are some quick steps to do so.
- 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.
- Fill in the names of the grantor and the grantee. If possible address of both the parties has to be filled in.
- Signature of the grantor should be there in the form. In some states, signatures of both the grantor and the grantee are required.
- A public notary should verify the signature of the grantor. Generally, the grantor has to sign the deed in front of a public notary.
- 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.
- In order to make the deed valid, it should be recorded in the recorder’s office.
Life estates and quitclaim deeds
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.
Reverse/undo quitclaim
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. For invalidating a deed, consult an attorney 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.
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.
Related Readings
- Which is better - Interspousal Transfer or Quitclaim Deed?
- Can quitclaim deed transfer mortgage debt?
Related Forum Discussions
- Will grantor lose rights on property after quitclaim?
- Can quitclaim remove name from title?
- Will quitclaim protect my home from creditors?
- Tax implication of quitclaim Deed
- Owner deceased: Is quitclaim deed possible?
- Which is better - quitclaim or warranty deed?
- Quitclaim prior to bankruptcy - how does it affect?
- Is a sample quitclaim deed available here?
- Where to get free quick claim deed form
I agree with you Fetyo. A quit claim deed should be drafted by an attorney as he is aware of the legal language involved in the process. And, its always better to consult a legal person.
However, you may take some help from standard quit claim deed form available at "http://www.wsba.org/info/x-12c.pdf".
Thanks
However, you may take some help from standard quit claim deed form available at "http://www.wsba.org/info/x-12c.pdf".
Thanks
hi I transfer my house to a friend but want my house back its possible ???
hi please tell me about quick-deed thanks
Welcome Claudette.
It's not impossible if your friend is willing to give the property back to you. But in general, once you sign a quit claim or any other deed in order to convey interest in property, it isn't easy to cancel it. It will mainly depend on what your friend actually wants to do.
It's not impossible if your friend is willing to give the property back to you. But in general, once you sign a quit claim or any other deed in order to convey interest in property, it isn't easy to cancel it. It will mainly depend on what your friend actually wants to do.
Hi Claudette,
A quit claim deed is a deed that helps to transfer interest in the property from one person (grantor) to another (grantee) without stating whether the person transferring the property is its legal owner.
The deed provides no guarantee as to whether anyone can claim his or her rights on the property. It simply states that property is transferred.
For more details, you may refer to our section on Quit Claim Deed.
Thanks,
Sara
A quit claim deed is a deed that helps to transfer interest in the property from one person (grantor) to another (grantee) without stating whether the person transferring the property is its legal owner.
The deed provides no guarantee as to whether anyone can claim his or her rights on the property. It simply states that property is transferred.
For more details, you may refer to our section on Quit Claim Deed.
Thanks,
Sara
I Quick Claim my property to my Living Trust the attorney said I could give my Trust any name. At the time I though it would be a good ideal since I was having trouble with home invading and personal information missing. I am afraid if something happen to me my family may have trouble getting my property Can I Quick Claim the property back to the my name or do I need to get an attorney since the form need to be notary.
Hi Cw,
Regarding your doubt: "I am afraid if something happen to me my family may have trouble getting my property", I do not think that problems will arise in case something unfortunate happens to you and the property remains in the living trust.
If the heirs are clearly mentioned in the trust then there will not be any legal difficulty in the transfer of property at such time.
David
Regarding your doubt: "I am afraid if something happen to me my family may have trouble getting my property", I do not think that problems will arise in case something unfortunate happens to you and the property remains in the living trust.
If the heirs are clearly mentioned in the trust then there will not be any legal difficulty in the transfer of property at such time.
David
Hi Cw,
If the names of the heirs are stated on the trust papers, then they won't have problems in getting the property. If you wish to get back the property in your name from the trust, just for the sake of your heirs having problems, then you need not go for it.
Thanks,
James.
If the names of the heirs are stated on the trust papers, then they won't have problems in getting the property. If you wish to get back the property in your name from the trust, just for the sake of your heirs having problems, then you need not go for it.
Thanks,
James.
i was divorced 7 years ago and kept the house in the settlement. there is still a mortage on the home. the divorce decree states that if within that 7 years i defaulted on the mortgage loan, my ex husband had the option to take the house back or sell it and split the monies. if i did not, he was to sign a quitclaim deed my 7 years is up in march. do i have to refinance? if i do not, does he still have any claim if i do choose to sell my home? do i have to consult an attorney or can we just draw up a quitclaim ourselves and have it notarized?
Hi Rebecca,
"If I did not, he was to sign a QuitClaim Deed My 7 years is up in March. Do I have to refinance?" If your ex husband was also a co-signer for the mortgage then he may require you to refinance it in your own name after he quit claims the home to you.
The other thing you have asked:"If I do not, does he still have any claim if I do choose to sell my home?" After he quit claims the home in your name he will lose his rights over the house and you can very well sell the home. But in that case the mortgage dues will have to be repaid back out of the sale proceeds.
Thanks
Blue
"If I did not, he was to sign a QuitClaim Deed My 7 years is up in March. Do I have to refinance?" If your ex husband was also a co-signer for the mortgage then he may require you to refinance it in your own name after he quit claims the home to you.
The other thing you have asked:"If I do not, does he still have any claim if I do choose to sell my home?" After he quit claims the home in your name he will lose his rights over the house and you can very well sell the home. But in that case the mortgage dues will have to be repaid back out of the sale proceeds.
Thanks
Blue
Rebecca,
You can make out a quit claim deed yourself for the transfer but I would advice that you do consult a real estate attorney for the transfer of the home in your name.
As it is always better to get legal advice before any property transaction is carried through.
Colin
You can make out a quit claim deed yourself for the transfer but I would advice that you do consult a real estate attorney for the transfer of the home in your name.
As it is always better to get legal advice before any property transaction is carried through.
Colin
Hi Rebecca,
Welcome to the forum.
If you have not defaulted in these 7 years, then as per the divorce decree, your ex-husband should sign a quit claim deed and hand over his interest in property to you. This is done to ensure that he does not claim any share of interest from your home in future.
"Do I have to refinance?"
You need not do a refinance. It is required only if your ex-husband is still on the loan and you want to remove his name from the agreement.
Hope the information will help you.
God bless you.
Samantha
Welcome to the forum.
If you have not defaulted in these 7 years, then as per the divorce decree, your ex-husband should sign a quit claim deed and hand over his interest in property to you. This is done to ensure that he does not claim any share of interest from your home in future.
"Do I have to refinance?"
You need not do a refinance. It is required only if your ex-husband is still on the loan and you want to remove his name from the agreement.
Hope the information will help you.
God bless you.
Samantha
Hi Rebecca,
"Do I have to consult an attorney or can we just draw up a QuitClaim ourselves and have it notarized?"
It is better to consult an attorney while drawing up a quit claim deed.
"If I do not, does he still have any claim if I do choose to sell my home?"
If you wish to sell the property, you need to make the title free of the mortgage by paying off the loan.
Thanks
"Do I have to consult an attorney or can we just draw up a QuitClaim ourselves and have it notarized?"
It is better to consult an attorney while drawing up a quit claim deed.
"If I do not, does he still have any claim if I do choose to sell my home?"
If you wish to sell the property, you need to make the title free of the mortgage by paying off the loan.
Thanks
Is the Ladybird Deed recognized in Michigan?
Hi Bill,
Welcome to Mortgagefit discussion board.
Yes Ladybird deed or which is also called the Enhanced Life Estate Deed is recognized in Michigan.
Do let us know about any other doubts you have.
Thanks
Blue
Welcome to Mortgagefit discussion board.
Yes Ladybird deed or which is also called the Enhanced Life Estate Deed is recognized in Michigan.
Do let us know about any other doubts you have.
Thanks
Blue