Using Quit Claim Deeds In Transferring Ownership

By Author: Sebastian Guthery
Total Articles: 37
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Real estate properties change ownership every now and then. This is especially true when homeowners sell their residential properties, parents pass on their properties to their children as a form of inheritance or gift or when married couples divorce and divide their properties. When ownership is transferred from one individual to another, various legal documents including different types of deeds need to be accomplished by the parties involved and one of them is the quit claim deed transfers any interest in real property of one person called the grantor to another individual referred to as the grantee. Of the various types of deeds commonly used transferring ownership in real property, the quit ...
... claim deed in favor of the wife would transfer any interest the grantor or the husband may have in the property. In another situation, if a wife for instance owns a property which she bought before she got married and then decides to sell that particular property to Mr. Adams, her husband needs to sign a quit claim deed are when placing a personal property into a business entity, to provide a clear title or in other special situations. It is important to note, though, that this type of deed does not mean that the grantor or the person disclaiming interest on the property is already free from his or her obligations concerning mortgage or liens secured against that particular property. If the person wants to be released from his obligations under a mortgage, opting for a refinancing scheme is the best possible solution. In this case, the grantee should refinance the property using his own earnings, assets and credit.

In executing a quit claim deed be filed with the country recorder's office.
This type of deed includes pertinent information on the owner or grantor, the receiver or grantee and the property itself. These are the names and addresses of the parties involved in this case the grantor and grantee, the amount paid for the property, location and legal description of the property, the release of rights, interest and claims, signature of any witnesses as well as the notary seal and signature.

After filling out all the needed information, the deed should be recorded with the county office and then turned over to the grantee. Recording of the deed is important in order to protect the grantee. In addition, an excise tax affidavit is required before recording of the deed.

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