This Quitclaim Deed by Two Individuals to Husband and Wife form is a Quitclaim Deed where the Grantors are Two Individuals and the Grantees are Husband and Wife. Grantors convey and quitclaim the described property to Grantees less and except all oil, gas and minerals, on and under the property owned by Grantors, if any, which are reserved by Grantors. This form complies with all state statutory laws.
A Quitclaim deed is a legal document used to transfer ownership interest or rights to a property from one party (the granter) to another (the grantee). The purpose of a Quitclaim deed is to add a spouse to the title of a property while there is an existing mortgage on the property. This process allows for both spouses to hold joint ownership and liability for the mortgage. When adding a spouse to the title with a mortgage, there might be different types of Quitclaim deeds that can be used. Some common types include: 1. Spousal Quitclaim Deed: This type of Quitclaim deed is specifically designed for adding a spouse to the title of a property. It transfers any current ownership interest the granter has in the property to the grantee (the spouse) without making any warranties or guarantees about the ownership history of the property. 2. Joint Tenancy Quitclaim Deed: This type of Quitclaim deed establishes joint tenancy between the spouses. Joint tenancy means that both spouses have an equal and undivided interest in the property. If one spouse passes away, the surviving spouse automatically becomes the sole owner of the property. 3. Tenancy by the Entirety Quitclaim Deed: This type of Quitclaim deed is available in some states and is only applicable to married couples. It provides a form of joint ownership where both spouses have an equal and undivided interest in the property. However, tenancy by the entirety also provides certain legal protections, such as protecting the property from being seized by creditors if only one spouse incurs a debt. To add a spouse to the title with a mortgage using a Quitclaim deed, the following steps are typically involved: 1. Obtain the necessary forms: Contact the local county clerk's office or an attorney to obtain the appropriate Quitclaim deed forms specific to your jurisdiction. 2. Complete the Quitclaim deed: Provide all required information, such as the names of the granter (current owner) and grantee (spouse), legal description of the property, and the mortgage details. 3. Sign the Quitclaim deed: Both spouses must sign the Quitclaim deed in the presence of a notary public. It is crucial to ensure all signatures are executed correctly to avoid any future legal issues. 4. File the Quitclaim deed: Submit the completed and notarized Quitclaim deed to the county clerk's office or appropriate governmental agency responsible for recording property transactions. Pay any applicable fees and follow any specific filing instructions provided. 5. Notify the mortgage lender: Inform the mortgage lender about the addition of the spouse to the property title. They may require additional documentation or paperwork, such as an updated loan agreement or mortgage assumption. By utilizing a Quitclaim deed, adding a spouse to the title with an existing mortgage can be a straightforward process. However, it is crucial to consult with a real estate attorney or legal professional to ensure compliance with specific state laws and regulations, as well as to understand any potential implications on the mortgage and ownership rights.
