How to Fill Out a Quit Claim Deed
A quit claim deed is a very important written document that transfers the rights, claims and interests of a person who owns a property to another individual. This particular document is vital in selling properties, transferring properties to family members such as inheritance and when divorce takes place. Executing a quit claim deed means that you are turning over a property including its liabilities to the person (grantee) you are giving ownership interest.
Where real estate is concerned, a quit claim deed does not totally release the person who executes the document from his mortgage obligations. In order for the mortgage to be free from any claim, the grantor who quits claim should refinance the mortgage in the name of the person (grantee) to whom the title or interest in the property has been transferred.
It is important to note that all transactions involving real estate require written documents. To execute a quit claim, a form needs to be filled out and signed. In the U.S., most states require that quit claim deeds be filed with the county recorder�s office. They can also be used in all states.
Generally, it is easy to fill out a quit claim deed form. Read it thoroughly first before filling it out. Below is a guide that will help you in providing the right information on the form. Use black ink only.
Fill in your name on the blank that says [filed for record at the request of.]
Put the grantor's name and address in the field that says [when recorded return to.]
Provide the purchase amount on the space that says [consideration] if the property concerned was bought. If the quit claim deed is to transfer a property as a gift, put [one dollar and love and affection.]
Fill in the name of the person or persons who will be receiving the property or grantee(s). If a married couple is involved, the name of the husband and wife should be listed. But if the property is a gift to one spouse only, then only one name should appear with [as her (or his) separate property] as addendum. Only the first blank should be filled if there's only one grantee.
Provide the name of the county where the property is situated on the field that says [county.]
Write the complete legal description of the property on the space that says [legal description.] A legal description is usually listed on property tax forms or documents like the mortgage or deed of trust. If, for instance, the grantor wants to retain a life estate, the words [retaining unto the grantor a life estate] should be added.
Finally, don't forget the signatures without which the document will not be valid. The grantor must affix his signature before a notary public. If a married couple owns the property to be transferred, both the husband and wife should sign the quit claim deed.
Once the form is completely filled out, the deed must be recorded with the county and then turned over to the grantee. The purpose of recording the deed is to protect the grantee. Usually, an excise tax affidavit must be filed before the deed can be recorded.
Feel free to consult a lawyer should you have doubts about filling out a quit claim deed. A real estate lawyer can also complete it and file it for you for a certain fee