If you need to transfer ownership of a property to a family member or other person close to you and money won’t exchange hands, you may want to file a quit claim deed. The process is rather simple. In fact, you aren’t required to use an attorney for the process, but it’s usually a good idea just to make sure your bases are covered.
Get Matched with a Lender, Click Here.
Use the following steps for the easy process of filing a quit claim deed.
Obtain the Proper Form
You’ll need a Quit Claim Deed form, which you can obtain from your local county recorder’s office. It’s best to avoid any other third party resources that claim to be able to provide you with the form. Each state has its own requirements, and even specific counties may have more requirements. Understanding the requirements for your county will help the process go as smoothly as possible for you.
Complete the Form
Completing the form may require a little work on your part. For starters, you will need the legal description of the property. This is more than the physical street address. If you have a copy of your current deed, you can get the information there. If you don’t have access to the deed, you can contact your county’s recorder’s office for the legal description of your property. The recorder’s office can also provide you with the pin number for the property.
You’ll also need to provide the proper legal name of the person you are deeding the property to. This is as simple as asking the person you are giving the property to about their full legal name. Make sure you spell the names correctly so that the deed is properly recorded.
Click to See the Latest Mortgage Rates.
Depending on where you live, you may need to provide one or more witnesses when filing the quit claim deed. Certain states also require that you get the document notarized. This just helps to make sure that you are of sound mind and are doing this quit claim deed of your own free will.
File the Quit Claim Deed
The final step is to file the quit claim deed with the recorder’s office. This is the only way to make it official. It’s not enough to complete the form. The recorder needs to make it official by recording it as a public record. At this point, the new owners take public ownership of the home.
Typically, borrowers use a quit claim deed when there is a divorce and one spouse wants off the mortgage or when a newly married spouse wants to add their spouse to the deed. Of course, there are other reasons to use the quit claim deed. Whatever your reason, make sure you follow the proper steps so that the deed gets properly recorded in your county.
Mortgage.info is your information portal for all things home, mortgage, and refinancing.