Quitclaim deeds relinquish property interest by one party but doesn't release interest from lenders or other liens.
A quitclaim deed transfers ownershp rights in real estate without guaranteeing the recipient a clear title. Filing a quitclaim entails notarizing signatures, paying fees and filling out accompanying paperwork. Because filing a quitclaim doesn't assure the grantee validity of the property title or that it is free and clear of liens, mortgages and other encumbrances, this method of transferring ownership is often used among family members.
Obtain a quitclaim deed form from the county recorder, a real estate title company or escrow company. Whether using a template or drafting your own, the same basic information must be recorded: parties' legal names, date of transfer, property address and description, and signatures. The county recorder can advise of special inclusion specific to the county. The party releasing ownership is called the "Grantor." The party receiving ownership is called the "Grantee."
Complete the form by entering the filing date, name and address of the grantor and grantee, price of the conveyance, and the property's address. Include a legal description of the property. Legal description is more than the address. It includes the Assessor's Parcel Number (APN) and physical description of location. A surveyor's report might be necessary to accurately describe vacant land or properties with no address.
Notarize the document document. Notary publics must acknowledge each signature per document. Expect costs to start at $10 per acknowledgement. Fees increase for mobile notary publics. Some banks offer free notary to clients.
File the completed and notarized deed with the recorder's office. Pay the recording fee. Monroe County fees are $16 for the first page and $2 for each additional page. Additional fees include notary, affidavits, and recording disclosure fees. Cash and checks are accepted. Confirm with the county recorder who to make the check payable to.