A quitclaim deed is one of the main types of property transfer deed. It is used to transfer property from one period to another. To use a quitclaim deed in Ohio, fill in a quitclaim deed form and sign it in front of a notary. If you're married, your spouse must sign the Dower Waiver release form. Pay transfer taxes and record the document at the county recorder's office where the property is located.
Understanding the Ohio Quitclaim Deed
A quitclaim deed is a legal document you use to convey an interest in real property. Some people mistakenly call it an Ohio "quick" claim deed, but the deed name comes from the fact that the grantor quits his claim to the property. Ohio warranty deeds guarantee the property title; a quitclaim deed does not. It simply transfers whatever interest the grantor may have in the real property to another person.
If it turns out that the grantor does not have any interest in the property, the grantee gets nothing from the deed. For instance, you could sign a quitclaim deed tomorrow that purports to give your sister all your right and interest in the Chrysler building. The quitclaim deed itself will be a perfectly valid legal document. But, since you do not actually own the Chrysler building, no property will be transferred.
Risks of Using a Quitclaims
Because there are not title guarantees, there is a risk to accepting a quitclaim deed from a stranger. However, quitclaim deeds are easy and effective ways to transfer property interests between family members or between co-owners. Often they are used for gift transactions or to transfer property from one spouse to the other after a divorce.
Download or Purchase Ohio Quitclaim Form
Obtain an Ohio quitclaim deed form from the county recorder's office or download one from an online source. If you;re getting a form from the internet, do check that it is compliant with Ohio law. Quitclaims are simple, one-page documents identifying the grantor (person owning the property), the grantee (person receiving the property) and the property itself. Fill out the form and sign it where indicated.
Have Your Spouse Sign the Deed
In Ohio, a spouse has legal rights called dower rights in any property you own. In order for you to quitclaim your interest, your spouse must sign the Dower Waiver portion of the quitclaim deed, agreeing to give up any dower rights in the real property. Both of you should sign the deed form in front of a notary. For many years, Ohio required two witnesses, but that is no longer the case.
Pay the Property Transfer Tax
Ohio counties charge a property transfer tax. Find out how much the tax will be and whether you qualify for any exemptions. Pay the tax or claim an exemption with the county auditor, then get the auditor's stamp to show that you have dealt with the tax issue.
All deeds recorded in Ohio must reference the prior deed for the property by volume and number. The county recorder's office will provide that information. Pay the county recording fees, then record the quitclaim deed at the county recorder's office.