If you own real estate and are asked to sign a quitclaim deed, know that you are giving your real estate to someone else and you will not likely be able to get it back. This is common in a "save your home" type of scheme. Fraud is not a new issue, in a Michigan court Peters v Cartiera said this of quitclaim deeds: Under the cloak of quitclaim deeds schemers and speculators close their eyes to honest and reasonable inquiries and traffic in apparent imperfections in titles.
These requirements determine the content or text that is in the deed. Quitclaim forms must meet statutory conditions for content and format. In addition, many local recording authorities add requirements for margins, paper size, property identification, and many other details.
If a deed form is not in accordance with both the local and state standards, there may be additional fees charged for recording or the form may be rejected altogether. View Available Quitclaim Deed Forms History Quitclaim deeds were not common in the United States until the mids when property ownership started to mature after the revolutionary war.
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Deed Fraud. For instance, you may be transferring the title of a property out of your name into the name of your Trust. Finally, you may be going through a divorce and taking the steps to divest your assets and update your estate plan. These are all valid reasons for why you may want to use a quitclaim deed over any other type of deed.
Your very first step is obtaining your quitclaim deed. There are many legal documents that you can write out yourself, and have it signed and notarized in order for it to go into effect. The question is, where can you get that form? You can also get a quitclaim deed as easily as downloading a free form online.
In most cases, you will be able to find a downloadable, electronic version of the form with instructions for filling it out. You can find it by looking at your valuation notice, tax bill, or deed. Then, describe your property on your form by writing down your APN, along with your city and county. Next, identity yourself as the grantor by filling out your full legal name. This means that you are the person transferring ownership of the property to another party. If this is not your role, then you should not be filling out the form.
List all grantors if there are multiple owners of the property. Last Wills. You want to make sure you have all your assets covered, but did you know that not all property can be bequeathed through a last will and testament? Making your living trust will be easier if you think it through and gather necessary information before you sit down to do it. Basic Deed Terminology To understand real estate deeds, it is necessary to know a few legal terms: Deed.
A legal document that transfers ownership of real property Grantor. A person who transfers ownership of his or her interest in real property Grantee. Florida Quit Claim Deed Requirements The basic requirements for a quit claim deed in Florida as in other states , are as follows: The Legal Names of the Parties The quit claim deed needs to include the full legal name of both the grantor s and the grantee s.
Proper Execution of the Document Florida law requires that the grantor must sign the deed in the presence of two witnesses and a notary public. Delivery of the Deed to the Grantee Technically, a deed, whether quit claim or warranty, must be delivered to the grantee. Filing With the Clerk A quit claim deed should be filed with the Clerk of Court in the county where the property is located.
About the Author Edward A. Facebook Twitter. Related Topics. This portion of the site is for informational purposes only. The content is not legal advice. The statements and opinions are the expression of the author, not LegalZoom, and have not been evaluated by LegalZoom for accuracy, completeness, or changes in the law. In Illinois, divorce courts suggest using quitclaim deeds because both you and your ex usually know the property's history. Using a quitclaim deed is a quick way to transfer the property.
If you're the spouse receiving the property, once you remove your ex's name and the property is transferred to you by quitclaim deed, you own all of it. You should review your prior deeds or have an attorney review them for you to help ensure there are no defects in the title. Defects can include liens, easements, and other encumbrances. If you know about them already, then there are no surprises.
If you don't trust your ex, having an attorney review the title for you is a good idea to check for title defects you wouldn't know about. One issue with using a quitclaim deed in a divorce case is that Illinois has homestead rights. In Illinois, homestead rights mean that spouses who use the property as their primary residence cannot be removed from the deed unless there's a court order or if the spouse waives their homestead rights.
It's advisable to consult an attorney before you waive or otherwise lose your homestead rights. While individuals can use quitclaim deeds, a trustee attempting to transfer real property out of a trust to an individual cannot use a quitclaim deed in Illinois.
The proper form in this case is a Trustee's Deed. The trustee uses a Trustee's Deed to transfer property to a particular person or to more than one person. The Trustee's Deed removes the real property from the trust. If you're the trustee, you'd be well advised to speak with an attorney or engage an online service provider to assist you, as the Trustee's Deed is not as easy to prepare as a quitclaim deed.
For a property deed transfer by quitclaim in Illinois, you must use the form that's used in the county where the property is located.
If the property is located in a county other than the one in which you live, call the County Recorder of Deeds in the other county to determine the proper quitclaim deed form to use. You must fill out a quitclaim deed correctly; otherwise, nobody can transfer the property.
If you feel you would benefit from using an online service provider, you can have an attorney review the deed online, prepare it, and even file it for you. If you're preparing the quitclaim deed yourself, make sure to enter the property description just as it appears on an older deed of the property.
If you can't find an old deed, check with the County Recorder of Deeds in the county where the property is located. They can tell you where to get a copy of an earlier deed. Make sure to fill in your name and address, and the name and address of the other party involved in the transfer.
Don't date or sign the deed, as you'll need to do that in a notary's presence. Write your name and address under the words, "Return Recorded Document To.
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