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When Do You Need A Quit Claim Deed Form?
What is a Quit Claim Deed? A quitclaim deed, which is also referred to as a quitclaim, non-warranty deed or quitclaim deed form, is actually a legally binding document that helps transfer a real estate property from one entity or individual to another. This type of deed recognizes the grantee and the grantor – the two main parties. The grantee is the one who receives property rights and the grantor is the one who quits or transfers those rights to the former. Find out why you need such a deed form.
Marriages and divorces
When couples get married, it is common for them to transfer the rights of property between themselves. One of the spouses would add the name of another into the title of their property, and create a shared ownership for the same. Quit Claim Deed Form use is also common with couples who divorce, particularly when a spouse quits a marital property interest - either on his / her own or due to a court order.
Removing title confusions
It is common in case of title insurance. In case your insurer witnesses any inconsistency that can have an impact on the chain of property title, he might ask you to prepare and execute a quitclaim to remove that confusion. When it comes to where to buy quit claim deed form, it is easy to download them in printable form from the internet.
Ownership transfer to a trust
During estate planning process, you may use the quitclaim for transfer of rights of property to a trust. You may also use this deed for transferring the legal rights of property ownership of an entity or individual to an LLC or corporation. In case you have undergone a change of name from the time you got a property title, you may use the quitclaim to make that change effectual.
Carl writes often about online legal drafting like affidavit, bill of sale and quitclaim deed forms to help the people. For more information about getting a quitclaim deed in Alabama and quitclaim deed in Arizona, please visit this website.
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