What is a Quitclaim Deed?
A quitclaim deed refers to giving any interest in a property that is legally possible to anybody else. Quitclaim doesn’t allow any guarantee of ownership to the person. It is just a document used in some limited situations. A quitclaim deed permits you to claim property by an easy way to relinquish. That is how you can release that claim to the party which is the owner of a property.
A Quitclaim deed is just a transfer of interest from person to person. Using Quitclaim deed, you can transfer any possible interest of a property from granter to grantee. Also, these deeds are termed as a non-warranty deed because of having a minimum warranty to the property title with this type of deed. It is more often seen that quitclaim deeds happen in parties who closely know each other. Usually, this matter is among divorcing partners or family members.
It is considered an easy and quick way to transfer property among members of the family. Hence, this method is also a more excellent way to put all estate into a trust. Further, Quitclaim deeds are used in the following matters regularly.
- To bequeath property in the last will.
- Mentioning the name of your spouse in your property title
- Removing the name of your spouse from your property title in divorce issues
- Transferring real estate property to a child, sibling, or any other relative
- Sharing property with a business partner
- Transferring a piece of property to a living trust
Reasons to Hire Quit Claim Deed Attorney
There are many reasons when one should consider hiring a quitclaim deed attorney for a property transfer that is a Quit Claim Deed.
Reason 1: If you want to add a family member or other party to their house and title of the property.
It is the most common use of a quitclaim deed when you as a granter want someone to be grantee from your property. You will have to apply for an addition of a name in the title of the property. This grantee could be anyone you know, like a family member, spouse, friend, or other. Hence, these matters are sometimes difficult to deal with because you have to prepare all the documents, so you need an attorney to add a title for a house or property.
Reason 2: If you want to add someone’s name for refinancing purposes
There are some cases when the property needs refinancing. If you are an investor in some real estate and paying a high mortgage, you can claim to refinance using a Quitclaim deed. Hence, it has some technicalities that owners and landlords usually don’t know. That is why there is a need for a Quitclaim deed attorney
Reason 3: If you want to transfer an investment or vacation property into their LLC or corporation name
Sometimes, when you transfer any investment to a corporation or an LLC, you need a real estate attorney dealing with a Quitclaim deed. It is an instant task that needed to be done if you are somewhere far from your business. Quitclaim deed attorney will do these transfers of investments for you with complete care to avoid any inconvenience.
Reason 4: If you want to transfer your property or real estate into a revocable living trust
In a Quitclaim, the living trust is a legal document created in an individual’s life journey. A designated person, i.e., with the real estate, the trustee, is responsible for dealing. The trustee does this to be the eventual beneficiary. This action is also a quitclaim deed and required sensitive information and documents manageable by only an experienced quitclaim deed attorney.
Reason 5: if you want to change the character of a property from a joint tenant to tenants by the entirety
When changing the title in a property from a joint tenant figure to the individual tenant, one must need a quitclaim deed attorney.
Reason 6: If you are having a separation or divorce and needs to transfer the interests of property
Mostly, when the entity is having a separation or divorce, there is a need to transfer interest instantly. The quitclaim deed attorney near me will assist you in making appropriate documents when it is required to remove your spouse from the property title. If there is any other break-up proceeding you are committed to, the quitclaim deed lawyers will give an overview and give you complete guidance on how you should take steps in these proceedings.
What costs you on hiring a quitclaim deed lawyer?
The experienced quitclaim deed lawyer near me usually charges $300 for drafting a document and recording a deed for you in most cases. Also, additional costs are applied as recording fees and real estate transfer applications. A real estate stamp is also required in some documentation that becomes an extra charge in a quitclaim deed.
Usually, the client manages the stamp on their own. But some clients do not have time to manage many proceedings, so lawyers at the attorney real estate group will also handle this part of the process.
What information does the Quitclaim deed attorney needd?
In most cases, attorneys require the property address, marital status of all the grantors. Also, addresses and spouse name if required. In some cases, we need to have the last deed of record. If the spouse is deceased, we will ask for the date of death or the death certificate as usual. We will ask only for general information from you to process the proceedings.
Why Choose Us?
Quitclaim deeds are often very complicated when you have multiple properties. Also, when a close one dies, or you have a separation, you need someone to do your deeds with proper care and consideration instantly. Lawyers at attorneys real estate group usually deals with more than 40 quitclaim deeds per month in California, United States.
So, our lawyers have become highly experienced in the documentation and drafting of several quitclaim deeds. Many title companies and mortgage companies refer us. Our group of lawyers is trustworthy that respect your delicate relations and will do your work with complete satisfaction.