
A quick deed or quit claim deed is a legal form used to transfer the rights of property from one owner, the grantor, to the new owner, the grantee. Unlike a warranty deed that assures the grantor has full interest in the property, a quick deed does not guarantee to the grantee that the grantor has title to the property or that the property title is clear. However, the purpose of the quit claim deed is to convey whatever interest, if any, the grantor has in a specific piece of real estate.
Decide the reason why you want to prepare a quit claim deed. Consider the reason for the transfer of your rights of such a large asset like real estate to another individual. Ensure you are making the right decision for your specific situation. A quick deed is irreversible, unless the grantor files suit in court to recoup his ownership rights. Quit claim deeds are commonly used in divorces, purchasing a property and planning a life estate.
Consult with a real estate lawyer to make sure you are following the correct legal process for preparing a quit deed on your property and that you are not being scammed. The Federal Bureau of Investigations (FBI) reported that in 2006 there were 35,617 cases of mortgage fraud. Many of these cases involved quit claim deeds and unsuspecting homeowners signing over their property rights to strangers or scammers posing as real estate professionals. The FBI recommends that you seek the assistance of a lawyer to supervise your real estate transactions. A lawyer can explain and protect your rights in your real estate dealings to ensure you are not being coerced or tricked into signing.
Obtain a quit claim deed document. In order to transfer your rights to the grantee, you must complete this legal form. You can get a copy from the Internet on many legal websites like The Lectric Law Library. Fill-out the document by signing it, printing your name and the name of the grantee, dating it and writing your property address and the legal property address, which includes the lot and block number with the subdivision name. You can find the legal address by contacting your county registrar of deeds office.
Most states require a quit claim deed be notarized by a notary public. A notary public is a government appointed public servant who is authorized to witness the signing of documents to deter fraud. Locate a notary public in your area by visiting the local library. The charge to have a document notarized can vary from 50 cents to $10.
Deliver the deed to the grantee in-person or via mail.
Record the deed. To make the deed official, it must be recorded with the county registrar of deeds where the property is located. Most counties charge a small fee for recording a deed. Contact the county registrar of deeds department for the specific fee amount.
References
- Mortgage Fit: Quit Claim Deed: Document Transferring Property-Interest
- US Lega Formsl: Deed Forms
- Federal Bureau of Investigation: Financial Crimes Report to the Public
- LawHelp:Quit Claim Deeds and Life Estates
- Superior Court of California, County of Alameda. "What Are the Advantages of a Living Trust?" Accessed May 15, 2020.
- AARP. "Transfer on Death Deed (TODD)," Page 1. Accessed May 15, 2020.
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- Internal Revenue Service. "Estate and Gift Taxes." Accessed May 15, 2020.
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- Arizona State Legislature. "33-405. Beneficiary Deeds; Recording; Definitions." Accessed May 15, 2020.
- FindLaw. "Arkansas Code Title 18. Property § 18-12-608. Beneficiary Deeds--Terms--Recording Required." Accessed May 15, 2020.
- Sacramento County Public Law Library & Civil Self Help Center. "Transfer on Death (TOD) Deeds," Page 1. Accessed May 15, 2020.
- Colorado General Assembly. "Probate, Trusts, and Fiduciaries," Pages 1-2. Accessed May 15, 2020.
- District of Colombia, Office of Tax and Revenue. "Revocable Transfer-on-Death Deed," Pages 1-3. Accessed May 15, 2020.
- Hawaii State Legislature. "Uniform Real Property Transfer on Death Act." Accessed May 15, 2020.
- Illinois General Assembly. "(755 ILCS 27/) Illinois Residential Real Property Transfer on Death Instrument Act." Accessed May 15, 2020.
- FindLaw. "Indiana Code Title 32. Property § 32-17-14-11." Accessed May 15, 2020.
- Kansas Legislative Sessions. "Article 35 - Transfer-on-Death." Accessed May 15, 2020.
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- Montana Code Annotated 2019. "72-6-415. Optional Form of Transfer on Death Deed." Accessed May 15, 2020.
- Nebraska Legislature. "Nebraska Revised Statute 76-3402." Accessed May 15, 2020.
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- State Bar of New Mexico. "Transfer on Death Deed," Pages 1-2. Accessed May 15, 2020.
- North Dakota Legislative Branch. "Chapter 30.1-32.1 Uniform Real Property Transfer on Death Act," Pages 1-3. Accessed May 15, 2020.
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- South Dakota Legislature. "Part 4. Uniform Real Property Transfer on Death Act - 29A-6-403." Accessed May 15, 2020.
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- Virginia General Assembly. "§ 64.2-635. Optional Form of Transfer on Death Deed." Accessed May 15, 2020.
- Washington State Legislature. "Chapter 64.80 RCW Uniform Real Property Transfer on Death Act." Accessed May 15, 2020.
- West Virginia Legislature. "Chapter 36. Estates and Property." Accessed May 15, 2020.
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- State of Wyoming Legislature. "HB0201 - Transfer on Death Deed." Accessed May 15, 2020.
- Gibbs Law Office. "Using a Lady Bird Deed in Florida [Overview, Pros and Cons]." Accessed May 15, 2020.
- State Bar of Michigan. "Ladybird Deed," Pages 31-32. Accessed May 15, 2020.
- Sacramento County Public Law Library & Civil Self Help Center. "Transfer on Death (TOD) Deeds," Page 3. Accessed May 15, 2020.
- Sacramento County Public Law Library & Civil Self Help Center. "Transfer on Death (TOD) Deeds," Page 5. Accessed May 15, 2020.
- Sacramento County Public Law Library & Civil Self Help Center. "Transfer on Death (TOD) Deeds," Page 4. Accessed May 15, 2020.
Writer Bio
Tabatha Manuel is a certified English and speech teacher in Michigan. She completed her master's degree in secondary education from the University of Phoenix in 2012, and bachelor's in public relations from Wayne State University in 2004. Manuel is also a licensed realtor and author of several urban crime and mystery novels.