A quitclaim deed is generally used to convey, or transfer, property between divorcing spouses, family members and other people who have a close relationship. It relieves the grantor, or conveyor of the deed, of the liability associated with the property in most states. The grantor gives up rights to the property and allows the grantee to take full possession. State requirements must be met for a quitclaim deed to be considered a legal document and the property transferred.
Parties to the Quitclaim
The parties involved in the transaction are included on a quitclaim deed. This includes the grantor, who is releasing the property, and the grantee, who is receiving it. The full legal name of each party is required on a quitclaim deed when making a reference to grantor or grantee. Each party must be of sound mind and body and able to sign a legally binding document to meet the requirements of a quitclaim deed.
Read More: What Is the Advantage of a Quitclaim Deed?
The terms of the conveyance are required to be spelled out completely and clearly. The grantor and grantee must be adequately included in the conveyance and words, such as "I the grantor do grant..." are required to specify conveyance. The delivery of the quitclaim deed is essential
Identification of the property being conveyed is required to be included in a quitclaim deed. The lot and block number of the subdivision is printed on a quitclaim deed for property in an urban area. For suburban areas, the meet-and-bounds, or a description of boundaries that identify the property, is used.
A quitclaim deed should be signed by the grantor and grantee in the presence of a notary. A notary section that includes the date, notary designation dates and date of the agreement is placed at the end of a quitclaim deed. To prevent fraudulent quitclaim deeds, the notary is required to receive a copy of each party's identification before signing the quitclaim deed and affixing the notary seal.
It is required for the quitclaim deed to be recorded and made public record for the transfer of the property to be complete. The government clerk's office accepts the quitclaim deed and makes a copy to place in the book of deeds and official records.
Amanda Maddox began writing professionally in 2007. Her work appears on various websites focusing on topics about medical billing, coding, real estate, insurance, accounting and business. Maddox has her insurance and real estate licenses and holds an Associate of Applied Science in accounting and business administration from Wallace State Community College.