What Is Quit Claim Deed Form?
A quitclaim deed form is a document that is used to transfer the ownership of a home or land to another person. This is the faster method when it comes to transferring property. However, you should make sure this document brings complete information about the property and the parties included which depends differently in each state.
When someone drafts the document, it means he/she is giving away the claim of the real estate. This person is called the grantor. Meanwhile, the person who is receiving property is called grantee.
Typically, the quit claim deed form is used between family members which also protects the receiver from a fraud that the owner will take back the claim and the interest of the property after it is finalized. It will be a better way to protect the grantee, especially during divorce. This is why in this document, we are required to list the complete information such as marital status or the name of the spouse if the person doesn’t hold the property jointly. However, since it acts as protection, the document should be notarized and filed. Check the local requirement in your local laws.
Things We Need To Know About The Quitclaim Deeds
We already know transferring property is a daunting task because it requires so many documents which are confusing and frustrating. Then, the quitclaim will simplify the process. Here are some main purposes of this document.
The quitclaim deed certifies the grantor that he/she relinquishes any right of the property and give it away to another person. When it is transferred to another party, keep in mind this document is not suitable for any kind of situation. However, it doesn’t give a guarantee to the grantee that the grantor has an interest in this property. The only thing to do is asking it directly and ask if they agree to relinquish to the grantee.
Of course, the quit claim deed has the risk which it doesn’t give a guarantee that the grantor is clear from liens. So, if you are going to be the grantee, make sure that the property is free from any debts, disputes, or other issues that will threaten the property in the future.
So, if you are planning to make a quit deed, it is wise to have a better comprehension of the laws in your area and do research with the property. In terms of form, you can download our quit claim deed form on our page. It is free and you don’t have to sign up to get this awesome template. Then, you can consult with your attorney about certain details you want to include.
Tips In Making The Quit Claim Deed
Depending on where you live, making the quitclaim deed may require your marital status and also list your spouse’s name. You need to do this even though your spouse doesn’t have the legal interest with the property.
One or two witnesses will be asked to sign the form in front of the notary. Then, find information on whether you need to file the document with them or not.
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