![]() This deed recognizes two main parties: the grantor and the grantee. It's mistakenly referred to as a quick claim deed form – perhaps because of its efficiency. What is a quit claim deed?Ī quitclaim deed, also a quitclaim deed form, non-warranty deed, or simply a quitclaim is a legally binding instrument that facilitates the conveyance of real property from one person or entity to another. In your case above, transferring real property to a loved one or even trust, a quitclaim deed is exactly what you need. You need to know the one to use, how and when. While you might not know much about real property transfers and processes, there is something you have to know before property changes hands - property deeds. In other cases, the only second major real estate transaction you engage in (the first one being buying that property) is transferring that property to a loved one or a trust for purposes estate planning. Real estate isn't for everyone, but once in a while, you get to buy or sell a house or land. Do any of these situations apply to this Quitclaim Deed?.Required for an oil and gas lease valued at less than $100.00.The debt on the property being transferred is more than the property's value.Transfers full ownership to a business you own or you, as owner, of a business are transferring property from the business to your individual name.Necessary to transfer title after the terms of a land contract are met.Required for clarification after a legal name change.Required to clarify the real estate is community property.Required to clarify the real estate is the separate property of a spouse.Complies with a court order which did not require the sale of the property but rather a transfer between parties. ![]()
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