A Quitclaim Deed conveys a property interests to another party or entity.
A Quitclaim Deed conveys real estate title to another person. Unlike a Warranty Deed, a Quitclaim Deed does not guarantee that the person transferring their title interests has good title. A Quitclaim Deed conveys the title exactly as the person or entity has. There are several reasons why one would consider a Quitclaim Deed such as the following:
- A person wants to add their name to title for refinance purposes
- A person wants to convey or remove the title so another party can refinance and get a mortgage in their name, and generally out of the other person’s name
- A person wants to add a friend or family member, such as a spouse, to their house and real estate title
- A person or entity has undergone a divorce and is transferring a property interests as a consequence of a divorce or breakup proceeding
- A person wants to transfer an investment or vacation property to their LLC or Corporation
- A person or couple wants to transfer their real estate to their Revocable Living Trust or otherwise known as a “Living Trust”
- Clearing up title issues such as when a loved one deceases, and the joint tenants want to resolve any title issues
- Changing the character of property ownership such as by tenants by entirety versus joint tenants
- Transferring property to a child or adult children
- Clearing up a real estate title issue(s)
- A person dies and the heirs agree and can prove heirship in a clear and convincing manner without a probate proceeding
Experienced Quitclaims Deed and Real Estate Attorneys
Gateville Law Firm concentrates in the areas of residential real estate and prepares real estate title transfers documents such as Quitclaim Deeds, Deeds in Trust, Trustee Deeds, and Administrator’s Deed among many other real estate deeds. Unlike most real estate attorneys, Gateville Law Firm has a broad range of specialities within real estate, estate planning, and asset protection law.
Most real estate lawyers under real estate closings, but do not understand how Limited Liability Corporations and S corporations or Revocable Living Trust impact real estate ownership. Gateville Law Firm understands the difficult issues surrounding real estate ownership and assist real estate owners with their real estate legal needs.
What information do we need?
In most cases, we will need the property address, the marital status of all of the Grantors (sellers) including addresses and spouse’s names (if applicable); the marital status of all of the Grantees (buyers or people receiving the property interest) including addresses and spouse’s names (if applicable); and where the real estate tax bills should be transferred to. In most cases, we will acquire a copy of your last deed of record. If a spouse has deceased, we will need to know the date of their death; need a copy of their death certificate; their address at the time of death including any heirs’ names, their marital status’s and addresses. Heirship deeds may be subject to additional legal fees due to the complexity and time involved with these transactions.
Do we need to meet?
No, we do everything via the phone, internet, email and or zoom video teleconference. We do have a basic quitclaim deed interview form that we ask prospective clients to fill out. Clients are always responsible for their own recording fees, any real estate transfer exempt application fees charged by their Cities or Municipalities, and or any other charges (not charged by us).
Why trust us to do your Quitclaim Deed or related documents?
We do a lot of quitclaim deeds monthly. We do up to 40 quitclaim deeds per month. We are referred by title companies and do many quitclaim deeds for the following mortgage companies (but not limited to them):
- Fairway Mortgage
- Busey Bank
- Neighborhood Loans
- NuMark Credit Union
- Cross Country Mortgage
- First Midwest Bank
- Sterns Lending
- Mutual of Omaha
- Caliber Home Loans
- Land Home Financial Services
- Cardinal Financial Company
- Paramount Residential Mortgage
- Loan Depot