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A quitclaim deed can present significant risks, as it does not guarantee that the title is clear of liens or claims. This means that if there are unresolved issues, you could inherit those problems. Understanding these disadvantages is crucial when considering Idaho deed requirements, as it may impact your property ownership in the long run.
Idaho Code 18-6710 pertains to the legal guidelines surrounding the unlawful transfer of real property. It establishes penalties for knowingly transferring property under false pretenses. Knowing this law is fundamental for anyone engaged in property dealings and will help to comply with Idaho deed requirements.
$45 for trust deeds or mortgages of real property, including fixture filings, security agreements and assignments of leases and rents if contained within the same instrument for recording. $15 for reconveyances of trust deeds, and releases of mortgages. $25 for powers of attorney.
Types (4) Deed of Trust ? Transfers property interest to a third party as security for a loan. ... General Warranty Deed ? Gives the grantee the assurance that the property title has no encumbrances or liens. Quit Claim Deed ? A legal document that transfers property without any guarantees on the title being free of claims.
Transfers of real property must be in writing and notarized. Deeds should be recorded in the county where the property is located.
Idaho does not offer a statutory form for a deed. Common deeds in this state are the warranty deed and quitclaim deed. A warranty deed includes covenants of title while a quitclaim deed does not. Any person, whether citizen or alien, can take, hold, and dispose of real or personal property in Idaho (55-103).
Recording ? The quitclaim deed must be filed at the County Recorder's Office (See County List) in the jurisdiction of the real estate. Signing (§ 55-805) ? A quitclaim deed must be signed with the Grantor(s) in front of a notary public.