You may of heard of a Quit Claim Deed but wanted to know what exactly it is. A Quit Claim Deed is a legal instrument used to transfer real estate. A Quit Claim Deed is used by the owner of the real estate to quickly transfer ownership of the property to another person or entity. This document is recorded with the county that the property resides in.
There are three main types of Deeds when it comes to real estate. The first two are general and special warranty deeds. These deeds hold promise to the new owner that the property is free of liens and other defects. A Quit Claim Deed is transferred without warranties this deed is most frequently used to transfer property between family members, into a trust name, or in other situations in which the parties involved already trust each other.
Below are some reasons you would use a Quit Claim Deed:
- You are transferring property to a spouse or ex-spouse
- You are gifting the property to another person or family member
- You are wanting to transfer the property into your Trust name
- You want to make a name change for the existing deed
- You are wanting to transfer the property into a business name
While an attorney is not required to prepare a Quit Claim Deed, an experienced real estate attorney can help answer any questions you may have and also ensure the documents are done properly. We prepare all the necessary documents in our office and we also send them to the county to be recorded. If you are interested in knowing more about Quit Claim Deeds or want a Quit Claim Deed prepared, contact our office today at 206-408-8158 or [email protected]
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