If a quitclaim deed does not have any of these prerequisites, it will be deemed deficient and may not transfer title as intended by the parties. The stamp and signature of a notary licensed in the jurisdiction in which the deed is being signed.The signature of two independent witnesses, one of whom could be the notary.The signature of the Grantor (this causes a lot of confusion since many folks believe they, as the grantee, can sign a deed transferring property of the grantor to themselves).The formal Legal Description used to identify the property.The money or value given to the grantor in exchange for his/her interest in the property.The name of the person or entity who will be receiving the grantor’s interest in the property.The name of the current owner of the property who intends to transfer some or all their interest in the property.All quit claim deeds must clearly state the following: In Florida, quitclaim deeds must contain specific information as stated in section 695.26 of the Florida Statutes to be considered valid. Requirements for Quit Claim Deeds in Florida ![]() For this reason, quitclaim deeds should only be used between closely known parties who trust one another. However, if the property is encumbered in a manner that affects the grantor’s ownership, then a quitclaim deed passes on that same problem to the grantee. So, if a grantor has clear and marketable title, then the grantee will receive clear and marketable title as well. This means that the grantee can only receive a maximum of what the grantor owns at the time the quitclaim deed is transferred. The transferring party is referred to as the grantor while the person receiving the property is called the grantee.Ī grantor cannot transfer more interest in a property than he or she owns. Unlike other types of deeds, they do not provide warranties or protections that the interest being transferred is clear, marketable or even legally owned by the party purporting to transfer it. Each deed that transfers real estate must start the process at the Auditor's Office.Ħ) The deed is filed at the Franklin County Recorder's Office.Quit claim deeds are legal documents used to transfer ownership, in whole or in part, from one person to another. There is a notary at the Franklin County Auditor's Office. (You cannot just attach the entire prior deed because conveyance standards prohibit multiple grantor/grantee clauses in one deed.)ĥ) Each grantor must sign the deed in front of a notary public. ![]() You will get a good idea of what goes in each blank by reading what comes before and after the blank.Ģ) Enter all the names of the current owners of the property as the grantors on the deed.ģ) Enter all the names of the persons you want to be owners of the property as the grantees. Note: if you are adding a name to the deed, you list the current owner and the new owner both as grantees.Ĥ) Attach the legal description of the property from the prior deed. You can obtain a clean copy of the legal description from the Franklin County Recorder's Office. When the quit claim deed is properly completed and executed. How to fill out the deed forms from the Franklin County Law Library:ġ) Read the entire form carefully. A quit claim deed is a legal instrument that is used to transfer interest in real property. Please also see the Franklin County Deeds tab of this guide for information about the County Auditor and Recorder's Offices and their role in transfer and recording of real estate. The ease at which the quitclaim deed can be executed (it requires little more than both parties signing the document and having it notarized where required, and filed with the appropriate governmental agency with the proper fees paid) is partly to blame for the "quick claim" misnomer associated with the deed. ![]() An example use for a quitclaim deed is in divorce, whereby one spouse terminates any interest in the jointly owned marital home, thereby granting the receiving spouse full rights to the property. The entity transferring its interest is called the grantor, and when the quitclaim deed is properly completed and executed, it transfers any interest the grantor has in the property to a recipient, called the grantee. Unlike most other property deeds, a quitclaim deed contains no title covenant and thus offers the grantee no warranty as to the status of the property title.īecause of this lack of warranty, quitclaim deeds are most often used to transfer property between family members, as gifts, placing personal property into a business entity (and vice versa) or in other special or unique circumstances. A quitclaim deed is a legal instrument which is used to transfer interest in real property.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |