Quitclaim Deeds
Unlike a general warranty deed, a quitclaim deed does not contain any promises by the seller to the buyer. As such, a quitclaim deed transfers whatever ownership interest that the seller owns in the property.
What needs to be included in a quitclaim deed?
Some of the requirements for a valid quitclaim deed in Florida are:
- A statement of who drafted the deed including their name and address
- The legal names of both the buyer(s) and the seller(s)
- Seller(s) and buyer(s) mailing address
- The seller(s) signature(s)
- Seller(s) name printed under signature
- A legal description of the property
- Two witnesses for each signature
- Notary stamp and signature
- Printed name of notary under notary signature
- Date the deed was notarized.
When should I use a quitclaim deed?
A quitclaim deed is the simplest, as well as the riskiest, deed in purchasing real property. The following are a few examples of when a quitclaim deed could be useful:
1. To fix defects on a title
Errors on the property title, such as the misspelling of a name can easily be resolved by filing a quitclaim deed with your county’s property appraiser office.
2. To transfer property between family members
Quitclaim deeds are a simple and cost-effective way to transfer property among family members. It can be useful if the owner gets married and would like to include their new spouse’s name on the deed. Alternatively, it can be useful in the event of a divorce to remove an ex-spouse’s name from the deed.
3. To transfer property to a trust
When creating your estate plan, you may decide to create a trust that holds your assets for the benefit of your heirs after your death. To transfer your real property into the trust, you can use a quitclaim deed.
Hiring a Real Estate Attorney
While drafting a quit claim deed may seem like a simple task, mistakes do happen which could ultimately render the quit claim deed invalid. That is why it is highly recommended that you hire an attorney to draft the deed for you.
Author: Ness Chakir, Esq.