Posted on: 05th Jun, 2005 10:42 pm
A quitclaim deed is a legal document that transfers your interest to another individual in the property such as
To help you get a clear idea of what a quitclaim deed (often misspelled as quick claim deeds or quit claim deeds) is, the whole information is divided into different sections:
- House - A building for human habitation
- Land - A place which can be used for habitation, investment or any other purpose
- Mobile home - A movable house that is parked in a place
To help you get a clear idea of what a quitclaim deed (often misspelled as quick claim deeds or quit claim deeds) is, the whole information is divided into different sections:
When to use quitclaim deed
A quitclaim deed is commonly used in the following situations:
- In a divorce, when an ex-spouse transfers ownership of the property to the other.
- A spouse may add other spouse's name to the property title after marriage only by issuing the spouse a deed.
- At the time of purchasing a property, ownership is transferred from the seller to the buyer. For such transfer, parties involved may use a quitclaim, general warranty, or special warranty deed.
- Sometimes, previous owner of the property may retain some ownership interest in the property. This interest can be transferred to the new owner with the help of a quitclaim deed.
- A person planning a will or a living trust can use the document to transfer ownership of the property into a trust or the person they want to inherit the property.
- Parents willing to transfer the ownership in a property to a child or a relative before the property gets stuck in a probate.
6 Steps to follow in a quit claim deed
Preparing a quitclaim deed is very easy. Here are some quick steps to do so.
- First of all, obtain a quit claim deed form. You can get the form online. You can also obtain it from the office of the local county recorder.
- Fill in the names of the grantor and the grantee. If possible address of both the parties has to be filled in.
- Signature of the grantor should be there in the form. In some states, signatures of both the grantor and the grantee are required.
- A public notary should verify the signature of the grantor. Generally, the grantor has to sign the deed in front of a public notary.
- A legal description of the property is a must. This is because of the fact that without the legal description, deed can’t be recorded in the recorder’s office.
- In order to make the deed valid, it should be recorded in the recorder’s office.
Life estates and quitclaim deeds
Even after transferring a property through quitclaim, you can have the right to stay there till your death. This is possible only if you retain a life estate for yourself. A life estate is a kind of estate where you retain interest in the property for your lifetime, and specifically name the person to whom the property is to go to immediately after your death.
Reverse/undo quitclaim
Once you have signed a quitclaim, the only way to get the property back is to have the grantee quitclaim it back to you or prove the transfer was invalid. If you can prove that you signed the deed under threat, external pressure, or the grantee made you sign by telling you false information, then you can have the quitclaim deed invalidated. For invalidating a deed, consult an attorney in your state. Learn more...
This legal document is a good way to transfer property if you are transferring it between family. The best way to transfer property to or from someone who is not family is to use a general or special warranty deed which gives the buyer warranties as well as transfers property.
This legal document is a good way to transfer property if you are transferring it between family. The best way to transfer property to or from someone who is not family is to use a general or special warranty deed which gives the buyer warranties as well as transfers property.
Related Readings
- Which is better - Interspousal Transfer or Quitclaim Deed?
- Can quitclaim deed transfer mortgage debt?
Related Forum Discussions
- Will grantor lose rights on property after quitclaim?
- Can quitclaim remove name from title?
- Will quitclaim protect my home from creditors?
- Tax implication of quitclaim Deed
- Owner deceased: Is quitclaim deed possible?
- Which is better - quitclaim or warranty deed?
- Quitclaim prior to bankruptcy - how does it affect?
- Is a sample quitclaim deed available here?
- Where to get free quick claim deed form
I am getting a divorce from my husband. He has agreed to let me keep the house. I am in school and not working although I am fully able to pay the mortgage (and Home equity line of credit). He will be recieving half the equity and a lump sum (half value of contents) when I graduate and then refinance the house. If we use a quit claim deed signing over the house to me, effective on the date of divorce, will I then be forced to refinance immediately?
Hi Cass,
Welcome to our forums.
No, I don't think you will be forced to refinance just because your husband will sign a quit claim deed and hand over the property to you. This type of deed just helps you to get a share of property-interest initially owned by someone else.
The loan has no relation with the quit claim. By saying this, I mean that the quit claim will help you to have the entire house in your name but it will not allow your husband to take his name off the loan, if it is at all there in the note.
Feel free to clear all your doubts with us.
God bless you
Samantha.
Welcome to our forums.
No, I don't think you will be forced to refinance just because your husband will sign a quit claim deed and hand over the property to you. This type of deed just helps you to get a share of property-interest initially owned by someone else.
The loan has no relation with the quit claim. By saying this, I mean that the quit claim will help you to have the entire house in your name but it will not allow your husband to take his name off the loan, if it is at all there in the note.
Feel free to clear all your doubts with us.
God bless you
Samantha.
My mother and Uncle co-owned property. When my mother became sick she quick claimed "her half" of property to me(we recorded it properly). But now (years later) I wondering if we did this correctly? Should she have quick claimed to me and my uncle even though he already owned half? The last time we refinanced, the bank told us that my uncle's name wasn't on the title (but everytime we refinance, they come up with incorrect names on the title- so it could be unrelated??)
Hi Dionne,
If the quit claim deed was signed properly and after that correctly notarized and recorded with county recorder's office then I think there is no concern for you to be worried of.
"Should she have quick claimed to me and my uncle even though he already owned half?"
It is certainly not necessary. You mother has the rights to transfer her part of the ownership to any person she wants to and quit claim deeds do not require the other owner to be also named when transferring ones interest.
Blue
If the quit claim deed was signed properly and after that correctly notarized and recorded with county recorder's office then I think there is no concern for you to be worried of.
"Should she have quick claimed to me and my uncle even though he already owned half?"
It is certainly not necessary. You mother has the rights to transfer her part of the ownership to any person she wants to and quit claim deeds do not require the other owner to be also named when transferring ones interest.
Blue
Hi Dionne,
"The last time we refinanced, the bank told us that my uncle's name wasn't on the title"
You havn't told anything about whether your uncle had transferred his interest, if he has not done so then his name should be present on the title.
"(but everytime we refinance, they come up with incorrect names on the title- so it could be unrelated??)"
If names of people whom you do not know and should not be named as owner of the property are coming up then may be there is a title defect and you should do a title search of your property to know about it.
Thanks
Colin
"The last time we refinanced, the bank told us that my uncle's name wasn't on the title"
You havn't told anything about whether your uncle had transferred his interest, if he has not done so then his name should be present on the title.
"(but everytime we refinance, they come up with incorrect names on the title- so it could be unrelated??)"
If names of people whom you do not know and should not be named as owner of the property are coming up then may be there is a title defect and you should do a title search of your property to know about it.
Thanks
Colin
Hi Dionne,
I don't think there is any problem with the quit claim deed but you can just check out the document once and find out the names that are provided there as the grantees. If it states that you and your uncle are the grantees, then your mother had actually transferred her share to both you as well as your uncle. Otherwise, you own half of the property and your uncle, the other half.
I think you also need to talk to the concerned authority in the bank regarding this issue. May be they do not have the correct information right from the very beginning you have been dealing with them.
Hope you get through this problem asap.
God bless you
Samantha.
I don't think there is any problem with the quit claim deed but you can just check out the document once and find out the names that are provided there as the grantees. If it states that you and your uncle are the grantees, then your mother had actually transferred her share to both you as well as your uncle. Otherwise, you own half of the property and your uncle, the other half.
I think you also need to talk to the concerned authority in the bank regarding this issue. May be they do not have the correct information right from the very beginning you have been dealing with them.
Hope you get through this problem asap.
God bless you
Samantha.
Wow, what a great resource this is!! Thanks for all your timely answers!!!
my quick claim deed does not match my land description
Hi Linda,
I think you should contact the attorney who has drafted the deed and tell him about the mismatch with your land description. If the deed has not been recorded, then the attorney can make the necessary changes with the grantor and the grantee being fully aware of it. However, if the deed has been already recorded, you may contact the recorder's office and enquire as to how you can correct the error in the deed.
Thanks,
Sara
I think you should contact the attorney who has drafted the deed and tell him about the mismatch with your land description. If the deed has not been recorded, then the attorney can make the necessary changes with the grantor and the grantee being fully aware of it. However, if the deed has been already recorded, you may contact the recorder's office and enquire as to how you can correct the error in the deed.
Thanks,
Sara
owner of house deceased,spouse of decesaed quit claimed her part to 4 other family members,1 family memeber quit claim her part back to 1 of the family members,now .3 of the members are deceased,1 of the deceased quit claim his part over to a friend.house still in deceased name.what happens now.
Hi,
I guess the persons who retain a share of interest in the property and are living now, must get together and contact an attorney so that a probate can be carried out. This will help to take off the deceased owner's name from title and distribute the property accordingly. If he has a Will, his share will pass on to his heirs or to his spouse.
The spouse will not get back any part she has already quit claimed. And, the friend will retain his share of interest in the property which he has obtained through a quit claim.
If the friend wants the property to be in his name, he should contact an attorney and go for a probate if the deceased owner has Will. Otherwise, the law of intestate succession will decide the names on the title to the property.
Thanks,
Sara
I guess the persons who retain a share of interest in the property and are living now, must get together and contact an attorney so that a probate can be carried out. This will help to take off the deceased owner's name from title and distribute the property accordingly. If he has a Will, his share will pass on to his heirs or to his spouse.
The spouse will not get back any part she has already quit claimed. And, the friend will retain his share of interest in the property which he has obtained through a quit claim.
If the friend wants the property to be in his name, he should contact an attorney and go for a probate if the deceased owner has Will. Otherwise, the law of intestate succession will decide the names on the title to the property.
Thanks,
Sara
My father had a quitclaim deed filed after my mother died 10 years ago and I was on that deed. Now my father has died and I have sold the house. Does this mean I have to pay taxes on my profits from the house? (There was no mortgage, etc.)
Hi S-Lady,
It's not like that whenever we sold the house we need to pay tax. Paying tax is totally depends on few factors and conditions.
If you owned and lived in the home for 2 out of past 5 years, then you can exclude $250,000 in profits from taxes. But for that you have to be single. But if you are married then you can exclude an amount of $500,000 in profits from taxes.
If you have not stayed in the home for past 2 years then you will generally need to pay capital gain taxes. But you can exclude part of profits in certain circumstances like:
It's not like that whenever we sold the house we need to pay tax. Paying tax is totally depends on few factors and conditions.
If you owned and lived in the home for 2 out of past 5 years, then you can exclude $250,000 in profits from taxes. But for that you have to be single. But if you are married then you can exclude an amount of $500,000 in profits from taxes.
If you have not stayed in the home for past 2 years then you will generally need to pay capital gain taxes. But you can exclude part of profits in certain circumstances like:
- If you sold due to transfer of your job and shifting to a new home at least 50 miles farther from old home.
- If you sold because of your health problem or any of your relative’s health problem you care.
- If you sold because of affected by other unforeseen circumstances approved by the IRS.
If the owner of a home who is married is the only person on the title, does she need to quickclaim deed the house to her son, in order to keep the home from being an issue in divorce?
Hi White,
I don't think that is required. If your husband name is not any where related to any mortgage paper then there is no problem. You don't have to quit claim the property to your son.
But if there was a mortgage and your husband has made the payment against the debt in past, then he may claim the share on the property in future. But just transferring the interest to your son, you cannot protect that. Because, in that case since he has made the payment, he will get the legal right to claim.
Thanks
I don't think that is required. If your husband name is not any where related to any mortgage paper then there is no problem. You don't have to quit claim the property to your son.
But if there was a mortgage and your husband has made the payment against the debt in past, then he may claim the share on the property in future. But just transferring the interest to your son, you cannot protect that. Because, in that case since he has made the payment, he will get the legal right to claim.
Thanks