A quitclaim deed is a one-page document used to convey or transfer title on real estate. Various entities can prepare a quitclaim deed, ranging from attorneys to escrow and title companies. Some companies charge a set fee and others, like attorneys, charge for the preparation based on an hourly rate. You can even complete a quitclaim deed yourself if you have the correct information for the form.
To prepare a quitclaim deed, you'll need the person or entities' complete name and vesting as well as the legal description of the property being transferred. The vesting is how a person or entity is taking title. For example: "John Smith, a single man." The legal description is the tract, map, page and book number of the parcel. This can be found at the county assessor's office where the property is located, or online with any title company.
Prepare it Yourself
To prepare a quitclaim deed, you'll need a blank quitclaim form. These are available at most business stationary stores or online through a title company. Enter the full name of the person receiving title and the legal address of the property on the form where indicated. You must sign a quitclaim deed in front of a notary public. Some states like California require a thumbprint in the notary journal. After signing and notarising having the document notarised, you must record the deed at the county recorder where the property is located. This makes the deed enforceable.
Escrows and Attorneys
Escrow companies will prepare quitclaim deeds and they charge between £32 and £195 per document. The charge is usually less if the quitclaim is being used in a transaction where they are handling the escrow. Attorneys also prepare quitclaim deeds and their charge is usually based on an hourly rate that varies from office to office. Contact your local escrow company or attorney for a specific price quote.
A quitclaim deed is one of several versions of transfer deeds. They must be error-free and accurate to be enforceable. Since quitclaim deeds have no express or implied warranty as to the signor's right to convey the property, they are rarely used in transactions to sell property. They are typically used to convey or transfer title where there may be a cloud on title from someone like an ex-spouse or business partner.
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