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Quitclaim Deed: A Document that transfers property-interest

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
  • 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
Two parties are there in a quitclaim deed process – grantor and grantee. Grantor is the party that transfers the property and the grantee is the party that gets the property. In a quitclaim deed, no promises are made by the grantor that the property is lien-free. Before opting for this deed, it is advised that the grantor should 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

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. 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.
  4. 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.
  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.

6 Steps to follow in a quit claim deed

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.

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.

Related Readings

Related Forum Discussions

Hi Sue,

I've already replide to your query at http://www.mortgagefit.com/homesale/taxes-proceeds.html . Please have a look at it.

thanks
Posted on: 24th Mar, 2008 04:42 am
My fiancee's heirs want to Quit Claim his house to me. There is a mortgage of about $100,000.00 on the house. Are there tax consequences if I sell the house right away after having it quit claimed to me? What will happen with the mortgage?
Posted on: 01st May, 2012 07:14 am
Hi NPrev,

There are chances that you may have to pay capital gains taxes depending upon the profit you receive from the sale of the property.

Thanks
Posted on: 02nd May, 2012 12:59 am
my husband and i have been married for 20 years, and he wants a divorce...i signed a quit claim deed on our house when we purchased it 10 yrs ago, because i have bad credit. Am i entitled to half the equity? We only owe $26,000 on it..he is the only one on the title...i was never put on it. thanx
Posted on: 14th May, 2012 10:03 am
oh and i live in reno nv
Posted on: 14th May, 2012 10:05 am
Hi meredith!

Welcome to forums!

If your name is not mentioned on the property deed, you won't be considered as the owner of the property. Thus, you won't be able to claim the equity in that property.

Feel free to ask if you've further queries.

Sussane
Posted on: 17th May, 2012 11:54 pm
if my stepdad and mom signed a double wide and land over to me leagally can my stepdad make me deed it back over to him now
Posted on: 22nd May, 2012 04:22 pm
Hi parker,

Your step-dad cannot force you to sign back the property to him. This will be considered as illegal on your step-dad's part. If you wish, you can even take legal actions against your step-dad.
Posted on: 23rd May, 2012 01:29 am
I think that my husband has made a quit claim deed to his son for 1/2 interest in our residence with-out my knowledge.
Our title to the property reads.. both our names as joint tenants WROS. Will this convey 1/2 of the property to his son at my husbands death?
thank you
Posted on: 29th May, 2012 09:47 am
Welcome brenda,

As the property was deeded as joint tenants WROS, then your husband should have taken your permission before transferring his share of the property to your son. If the property has now been transferred in your son's name, then he will be considered as the owner of that part of the property.
Posted on: 04th Jun, 2012 12:52 am
I purchased a home and then quit claimed my girlfriend to deed. She now wants me to buy her out as we are not together as a couple. She has been out of the house for almost 2 years now, and has not contributed to any of the bills or mortgage. She now wants me to buy her out and I can't, nor do I feel I should have to. She is now threatening to have somone else buy her part of the deed out? Can she do this?
Posted on: 24th Aug, 2012 09:14 pm
Hi Ann!

Welcome to forums!

If she is one of the owners of the property, then she can add someone else to the property deed. Unless you buy her out, she will remain one of the owners of the property. In order to safeguard your property, it will be better if you could buy her out.

Feel free to ask if you've further queries.

Sussane
Posted on: 27th Aug, 2012 11:59 pm
Husband and me are separated at this time. We own 2 homes 1 is paid off and we get homestead on this one, i would stay living in this home. The other property only has an equity loan on it thats being paid off by both of us. If i sign he'll keep paying the loan. The problem is that since were separated he wants to go live in the property with the eq.loan and wants me to sign a quit claims deed on it. He said he will also apply for homestead next year on this home. Should i sign a quit claim ? Is this legal what his asking me to do?? PLS advice. thanks
Posted on: 15th Sep, 2012 10:32 am
Hi M BARAN,

If you sign the quitclaim deed and transfer the property to him, then he will become the sole owner of the property. If you're fine with it, then you can sign the deed.

Thanks
Posted on: 17th Sep, 2012 12:53 am
my father brought some property and land in 1940 the person that he bought the land from never recorded the deed and my father has been paying taxes on the property. We just found out the property was not recorded. my father wants to transfer the property to me because he has gotten of age. can we do a quit claim deed
Posted on: 21st Sep, 2012 06:45 pm
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