Create Quit Claim Deed

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Create Quit Claim Deed
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Free Quit Claim Deed

Quit Claim Deed: What Is It?

A quit claim deed is related to real estate. It is used to transfer interest, ownership, or rights to the property from one party to another in an extremely expeditious manner. The person giving away their claim on the real estate is known as the grantor, while the person receiving the property is called the grantee. This form is most often used to transfer property between family members.

This legal form will prevent the grantor from coming back and claiming interest after the quit claim deed has been finalized. This protects the grantee. This can be important in certain cases of transfer, such as during divorce.

A quit claim deed form will require information about both the grantor and the grantee. Information about the real estate property must also be included. For the best protection, a quit claim deed should be notarized and filed with the county clerk's office.

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What Is a Quit Claim Deed?

Transferring property can be a tricky business, and various documents involved can be a source of confusion and frustration.  Perhaps you've heard about a document called a quit claim deed but didn't really understand what it is or what its purpose might be.  If you're involved in the transferal of property such as a home or a piece of land, however, it's highly worthwhile to learn about this type of document and how it might affect you.  This is true whether you're the grantor (the person transferring the property) or the grantee (the recipient of the property).  We'll begin with a straightforward explanation of exactly what this document is and what its various purposes are.

To provide a succinct definition, a quit claim deed is a document certifying that the grantor "quits" or relinquishes any right or "claim" to some specified property.  Moreover, it certifies that the property will be transferred to the grantee—something that most deeds do.  Yet, it must be understood that this document might not be suitable for all people in all situations, as it does not guarantee that the grantor has any ownership interest in the property .  The only thing it attests is that if the grantor does have any ownership interest in the property, he or she agrees to relinquish it and transfer it to the grantee—nothing more, nothing less.

As you may have surmised, there is a measure of risk involved in a quit claim deed form, as the grantee has no real guarantee that the grantor owned the property free and clear of any liens, debts, disputes, or other ownership issues.  The point is that if you are going to be the grantee, you'd better be sure that the grantor did, in fact, own the property outright.  An example of this would be if parents were to give a piece of property to their son or daughter.  Still, while the quit claim deed form has its drawbacks, at least it prevents the possibility that the grantor will claim ownership of the property later on. Quit claim deeds are most often used in these types of situations.

If you're interested in preparing a quit claim deed or merely wish to see what it should look like, you can search for a quit claim deed form online.  You might even find a free quit claim deed through an Internet keyword search.  However, if you choose to use a free quit claim deed, make sure that it's of the highest quality; you may need to consult with a legal expert to confirm this.  After downloading the best free quit claim deed you can find, read its terms carefully and have it signed in the presence of a notary by the grantor and the grantee.  Depending on the locality, you might also need to have one or two witnesses sign the form.  Afterward, check with the local county clerk's office to find out if you need to file the document with them.

Don't let any of this information overwhelm you, as quit claim deeds are relatively simple and straightforward compared to many other types of legal document.  Indeed, it might be the easiest way for family members to transfer a home and/or land as a gift, or for individuals to transfer property when trust is not a concern.  If there is no exchange of money involved in the property transfer or if there are no questions about free and clear ownership, then this type of deed could be exactly what you're looking for.  The important thing is to be aware of the risks involved, read the document from beginning to end, and only sign your name on the line if you understand everything you need to know about the quit claim deed.