This Quitclaim Deed from Individual to Two Individuals in Joint Tenancy form is a Quitclaim Deed where the Grantor is an individual and the Grantees are two individuals. Grantor conveys and quitclaims the described property to Grantees less and except all oil, gas and minerals, on and under the property owned by Grantor, if any, which are reserved by Grantor. This form complies with all state statutory laws.
Montana Quitclaim Deed from Individual to Two Individuals in Joint Tenancy
Category:
State:
Montana
Control #:
MT-02A-77
Format:
Word;
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Description
Definition and meaning
A Montana Quitclaim Deed from Individual to Two Individuals in Joint Tenancy is a legal document used to transfer ownership of real property from one individual (the Grantor) to two individuals (the Grantees) who will hold the property as joint tenants. This type of deed allows the Grantor to relinquish any claim they have to the property without providing any warranties regarding the property’s title. Granting joint tenancy with the right of survivorship means that if one Grantee passes away, the surviving Grantee automatically assumes full ownership of the property.
How to complete a form
Completing the Montana Quitclaim Deed form requires careful attention to detail. Follow these steps:
- Enter the names and contact information of the Grantor and Grantees at the top of the form.
- Specify the consideration amount, which is typically a nominal amount, such as ten dollars.
- Fill in the legal description of the property being transferred. This information can usually be found on the property’s current deed.
- Indicate any exceptions or reservations, such as mineral rights, if applicable.
- Sign and date the document in the presence of a notary public, who will also complete their section of the deed.
Who should use this form
This form is suitable for individuals who want to transfer property ownership to two other individuals in a joint tenancy arrangement. Common scenarios include:
- Families who wish to transfer property to adult children.
- Partners or friends who are acquiring property together.
- Individuals who want to ensure that property passes to the surviving Grantee upon their death.
Key components of the form
The Montana Quitclaim Deed includes several essential components:
- Grantor Information: The name and information of the individual transferring the property.
- Grantees Information: The names and information of the two individuals receiving the property.
- Consideration: A statement of the consideration paid for the property transfer.
- Legal Description: Detailed description of the property being transferred, usually referenced from public property records.
- Notary Section: A section for notarization, required for the deed to be valid.
What documents you may need alongside this one
In addition to the Quitclaim Deed, you may need:
- The property’s current deed for reference, which includes the legal description.
- A title report to confirm there are no liens or encumbrances on the property.
- Identification documents for all parties involved to ensure correct verification by the notary.
Common mistakes to avoid when using this form
When completing the Montana Quitclaim Deed, avoid these common mistakes:
- Failing to include the complete legal description of the property, which can lead to disputes.
- Not properly signing the form in front of a notary public.
- Using incorrect names for the Grantor and Grantees, which can prevent the deed from being valid.
- Neglecting to specify the type of tenancy and any applicable exceptions on the form.
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FAQ
Recording This form must be filed with the County Clerk and Recorder's Office in the jurisdiction where the land is located (See County Website List). Signing (§ 70-21-203) A quit claim deed that is filed in Montana must be witnessed by a Notary Public upon the signature(s) of the Grantor(s).
Discuss property ownership interests. Access a copy of your title deed. Complete, review and sign the quitclaim or warranty form. Submit the quitclaim or warranty form. Request a certified copy of your quitclaim or warranty deed.
A Quitclaim Deed must be notarized by a notary public or attorney in order to be valid.Consideration in a Quitclaim Deed is what the Grantee will pay to the Grantor for the interest in the property.
They are commonly used to add/remove someone to/from real estate title or deed (divorce, name changes, family and trust transfers). The quitclaim deed is a legal document (deed) used to transfer interest in real estate from one person or entity (grantor) to another (grantee).
Fill out the quit claim deed form, which can be obtained online, or write your own using the form as a guide. The person giving up the interest in the property is the grantor, and the person receiving the interest is the grantee.
But you might be wondering if an owner can transfer a deed to another person without a real estate lawyer. The answer is yes. Parties to a transaction are always free to prepare their own deeds.A quitclaim deed, for example, is far simpler than a warranty deed.
When done properly, a deed is recorded anywhere from two weeks to three months after closing. However, there are many instances where deeds are not properly recorded. Title agents commit errors, lose deeds, and even go out of business. Even county offices sometimes fail to record deeds that were properly submitted.
Filing a quitclaim deed is a right of any property owner. You can file a quitclaim deed without refinancing your mortgage, but you are still responsible for the payments. Transferring the mortgage without refinancing is possible through an assumption of the loan, which requires lender approval.