A quitclaim deed is used to transfer a property owner’s interest in the property to another person without any warranties or guarantees as to the state of the property.
It is an expeditious way to transfer property and can be used to:
- Transfer property to or from a living trust;
- Transfer property to a spouse in a divorce;
- Clarify how property is owned among property owners;
- Clarify property ownership among heirs;
- Transfer one property owner’s rights to another property owner;
- Transfer all or a part of your property ownership to another party;
- Make changes in the way that owners hold title to the property; and
- Correct any mistakes in previously recorded deeds.
The most common usage of a quitclaim deed is when property is being given to someone rather than being sold. For example, parents may execute a quitclaim deed to pass their home on to their children or a soon-to-be ex-spouse may quitclaim his or her interest in a property as part of a divorce settlement.
It is critical that quitclaim deeds be prepared and executed properly since they are irrevocable. A Florida real estate attorney can ensure that the legal formalities required for deeds are met, and that you thoroughly understand what the conveyance process entails. Once the deed is properly executed, it must then be recorded in the public records of whatever county the property is located in. A real estate attorney can also handle that process to ensure that the deed is properly recorded.
ABOUT THE AUTHOR: Romy Jurado
Romy Jurado is one of the founders of Jurado & Farshchian, P.L. a business, real estate and immigration law firm. She focuses her practice on business law, including corporate and transactional matters with an emphasis on corporate formation, stock and asset sales, contract drafting, and business immigration. Romy is originally from Peru and moved to the USA with the dream of becoming an attorney and entrepreneur. Romy is actively involved in the community through her work as a Score certified mentor, and speaking at conferences to entrepreneurs and small business owners.
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.
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