Quitclaim Deed - What’s The Purpose Of It?
A Quitclaim Deed is a legal document used to convey (transfer) real estate property from one individual to another. A Quitclaim is also a non-warranty deed; this type of deed provides no guarantee that the owner (Grantor) has an interest in the property when it’s transferred to the new owner (Grantee). If the Grantor has title to the property, the Quitclaim Deed will transfer title to the individual named on the deed. If the Grantor did not own the property (does not have title) or if there are issues with the title, the Grantee is out of luck; there can be no transfer of property and a lawsuit may not hold up in the court system. Notary Glow strongly advises that you contact a lawyer or attorney for legal advice; we cannot and are prohibited to practice law.
Every state has its own laws pertaining to real property (real estate); it is highly recommended that you become familiar with your state’s laws and get a good grasp on how your state handles Quitclaim Deeds.
Why and When would Someone Use A Quitclaim Deed?
There are many circumstances where Quitclaim Deeds are useful for real estate transactions. A property transfer between family members is one of the most common reasons for using a Quitclaim Deed. This situation has allowed owners to easily transfer ownership rights to children or any other family member(s). Quitclaim Deeds have also been used to add or remove a spouse to or from a property’s title following a marriage or divorce. In many circumstances, married individuals usually purchase a home together, and both of their names are placed on the title as co-owners. However, following a divorce, in many circumstances, the divorce settlement usually requires one spouse to transfer their rights to the property to the other spouse; a Quitclaim Deed can be used to convey a spouse’s interest in the property. Moreover, people have also used Quitclaim Deeds to correct a property title defect. Using Quitclaims to correct a title defect saves time and money when it comes to the legal process of updating and adjusting the data that has been recorded on your property. Lastly, if the owner’s name changes or if the property is transferred to or from a business or LLC (Limited Liability Company), a Quitclaim Deed can be used to facilitate the adjustments. The aforementioned are a few examples of why and when Quitclaim Deeds are often used.
The Requirements of A Quitclaim Deed
In some circumstances, A Quitclaim Deed has to follow state specific statutes; and in other circumstances, a Quitclaim’s specifications can be acquired from commonly known law practices. If your state requires specific laws and language for your Quitclaim, your state will make that information available for you to comply with so your deed is valid and recordable.
In common circumstances, a Quitclaim Deed must include the title of the document (“Quitclaim Deed”), the date of execution, the name and address of the Grantor and Grantee, the Habendum (the transfer of ownership rights), the Consideration (what the Grantee is giving in return, if anything), the Property’s Legal Description, and the Notary Public’s notarial block. The Quitclaim Deed must also meet the state’s recording requirements; fonts sizes, margins, line spacing, and any other formatting should be thoroughly followed. Once the Quitclaim Deed has been completed and signed, it must be filed. You will need to go to your local recording office or county clerk, which ever is applicable, to have your Quitclaim filed. Please contact your local recording office or country clerk to inquire about the proper way to file your deed and remit payment for filing your Deed. Once this process is complete, the Grantee will become the owner of the given property.
Notary Glow and Your Quitclaim Deed
Your Quitclaim Deed is going to have a notarial block. A notarial block requires a Notary Public’s service… that’s where we come in! Notary Glow is owned and operated by New York’s Notary Public, Stephen Renaud. We offer a Remote Online Notary Services as well as a Mobile Notary Services. If you are located in one of New York’s five boroughs, we can travel to your desired location. Whether it be your home, local coffee shop, workplace, library, etc., we will come to you. If you need a Notary Public instantly and your documents available online, you can have your documents completely signed and notarized in as little as 15 minutes, using our Remote Online Notary services. In all 50 U.S. states, notarizations conducted online are acceptable. That means Notary Glow’s Notary Public can notarize your Quitclaim Deed while you are physically separated and apart from us. The process is similar to a Zoom call or FaceTime. You’ll appear before our Notary Public, take an oath or an affirmation, have your document(s) electronically signed and stamped, then you’re done. Your Quitclaim Deed will be ready to be printed and filed after you’ve had it notarized. ‘til next time… Notary Glow’s out!
