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A Quitclaim Deed is a legal document used to transfer property from one person, the Grantor, to another person, the Grantee. It is often used to transfer property between family members or other parties who know each other. A Quitclaim Deed can also be used to relinquish co-owned property in situations such as divorce. Other common uses of Quitclaim Deeds include the following:
As opposed to a document known as a Warranty Deed, a Quitclaim Deed does not guarantee that no one else has a claim to own the property or that the property is not encumbered by debts.
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First and foremost, the Quitclaim Deed must include information about the people granting the property, known as the Grantors, and the people being granted the property, known as the Grantees. Grantors and Grantees can be individual people, multiple individuals, married or divorced couples, trusts, or businesses. A person can also be both a Grantor and a Grantee. For example, if two people get married and the spouse who already owns a property wants to put their new spouse on the title, the spouse who already owns the property would be the Grantor and the spouses together would be the Grantees.
The Deed should also include information about whether or not money is being exchanged as compensation for the transfer of the property. If the property transfer is a gift, a nominal amount of money, $10, is listed as the amount being exchanged.
Finally, the Deed must include a precise description of the property being transferred. This description includes the address, the legal description, and the parcel ID number of the property. The legal description for the property can be found on previous deeds, tax forms, or at the county's Register of Deeds where deeds are recorded by the county. The parcel ID number, also known as an Assessor's Parcel Number (APN), can be found on past tax statements, a revaluation notice, or a personal property listing form.
To execute the completed Quitclaim Deed, the Grantors and Grantees must sign the document in front of a notary public and have the document notarized. Once the document is signed, it should be filed in the local County Clerk or Registry Office and then sent to the Grantees after it has been recorded.
Quitclaim Deeds are governed by state law. Different states have different requirements for when and how the Deed should be filed. Contact the local county Register of Deeds to get information about which governmental agency should be given the Deed to file and record before being returned to the Grantee.
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