Quit Claim Deed
Deeds are great instruments to transfer properties. It is a quick and reasonable process to do if it fits your proper situation. It is great if you can consult with an attorney, an EA, or your CPA, certified public accountant to see if there is tax consequence if you transfer or add someone to the title of your property.
Every county has different statutory requirements. You may check with the county’s web site for them.
What Exactly is a Quitclaim Deed?
A quitclaim (also spelled quit claim) deed is a legal document that transfers the title of a property to another party. Be mindful that no assurances are made about the owner’s title.
Subsequently, question is, is a quit claim deed the same as a deed?
A quitclaim deed is a type of deed. that transfers the actual legal rights to a property, if any exist, that the grantor — the person who is transferring a stake in a property to another person — has without any representation, warranty, or guarantee.
