Quit Claim Deeds
A Quit Claim Deed is used to legally release any interest in real property without warranting that the grantor has any interest to release. A Quit Claim Deed does not necessarily convey any interest in the property, because if the grantor has no interest in the property then no interest is conveyed. Quit Claim Deeds offer no protection to the person receiving the deed.
However, if the grantor does have an interest in the property the Quit Claim Deed will transfer that interest to the grantee. So Quit Claim Deeds should not be given without a full understanding of what the grantor has to convey.
Quit Claim Deeds are used in only limited circumstances. An example would be to clear one spouse’s potential claim to the other spouse’s separate property. Another example would be to transfer title to property from an individual to a corporation of Limited Liability Company that the individual owns.
Real State Attorney for Quit Claim Deeds in Seattle, Washington
If you are asked to sign a Quit Claim Deed to real property or told that you need to get a Quit Claim Deed from someone to clear title to your property, you should contact the Law Offices of Joyce S. Schwensen. Joyce Schwensen is an experienced Washington real estate attorney who can guide and protect clients when involved in any type of real estate conveyance.
Call theLaw Offices of Joyce S. Schwensen today at (206) 367-1065 or submit your information in the online form . Joyce Schwensen assists clients across Washington in all aspects of real estate law, including communities such as Seattle, Bellevue, Everett, and King County and Snohomish County.
Overview of Quit Claim Deeds in Washington
A Quit Claim Deed is most often used to transfer property within a family or between members of a divorced or divorcing couple. For instance, if the owner of a home gets married and wants to give their spouse an interest in the property, a Quit Claim Deed might be used. Another example would be where a property owner chooses to transfer title to real property into a trust or business entity that they continue to control.
Circumstances where a Quit Claim Deed might be appropriate, include:
- Giving an interest in real property to your spouse.
- Releasing an interest in real property to your former spouse.
- Transferring title to your property to a trust that you control
- Clearing a “cloud” from title to real property
- Making a gift of your property to a family member or someone else
It is very important that a Quit Claim Deed be properly filled out, with a precisely correct description of the property, the tax parcel number of the property, and the correct names of both the grantor and grantee.
After a Quit Claim Deeds is filled out with the proper information and signed by the grantor in front of a Notary, it should be recorded in the County real property records. There will be recording fees to pay, as well as possibly an excise tax if something was given in return for the conveyance of the property.
There may be additional tax implications in any real property conveyance, including conveyances by Quit Claim Deed. Before granting or receiving property under any form of deed, including a Quit Claim Deed, it is important to consult with experienced tax and legal professionals.
A Quit Claim Deed is just one type of deed, and it is not suitable for every purpose. As mentioned earlier, you should use caution when using this type of deed. It is important to note that a Quit Claim Deed will not release a mortgage. A loan secured by real estate cannot be changed without the agreement of the lender, so no transaction that doesn’t involve the lender will change the lender’s rights in the property.
It is always best to have the guidance of an experienced real-estate attorney when dealing with Quit Claim Deeds, especially since there is no property guarantee.
Real Estate Lawyer for Quit Claim Deeds in Seattle, Washington
Joyce Schwensen is an experienced real estate lawyer who can assist you with a transaction involving Quit Claim Deeds. She is a diligent attorney who will cover every detail of your situation and will make sure that you go into the transaction informed. Call the Law Offices of Joyce S. Schwensen today at (206) 367-1065 or submit your information in the online form.
Joyce Schwensen assists clients in communities across Washington including Seattle, Bellevue, Everett, King County and Snohomish County.