Alabama Quitclaim Assignment of Assets
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How to fill out Quitclaim Assignment Of Assets?
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FAQ
Attorney Involvement All legal documents must be drafted by an attorney licensed to practice in the State of Alabama. Parties to a transaction can draft their own documents if they are doing so on behalf of themselves.
A quitclaim deed is a legal document that transfers interests in property to another. The property that is commonly transferred by quitclaim deed includes a house, land, mobile home, or time share. A quitclaim deed is used often by divorcing couples to transfer property that was owned by the spouses.
Before you transfer real property, you should consult with a local Alabama Property Deed attorney that knows local property deed laws. Quitclaim deeds are generally a quicker and less expensive way to transfer property ownership. Most local attorneys can prepare a property deed in Alabama for you for a low flat rate.
An Alabama deed is not valid unless it is signed as required by law. The deed should be signed by the current owner or owners, with each signature notarized using Alabama's statutorily approved acknowledgments. There is no need for the new owners (grantees) to sign the deed.
If the person to be removed is alive, then you will need a court order or their cooperation such that you can record a new deed that removes them. Quitclaim and warranty deeds are common solutions. If an owner of a property has passed away, you will need to transfer the property to the living owners.
For the corrective deed to be valid, all parties who signed the prior deed must sign the corrective deed in the presence of a notarial official. The execution of a deed must be attested by at least one witness in Alabama (Ala. Code 1975, 35-4-20).
50 per $500 or $1.00 per $1000 on value of property conveyed - charged in increments of $500. The amount of value conveyed is always rounded to the nearest $500. A $1.00 ?no-tax? fee is charged on deeds that are tax exempt.
