Arkansas Partition Warranty Deed
Description
How to fill out Partition Warranty Deed?
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FAQ
An Arkansas quitclaim deed is one of three deed forms Arkansas recognizes for transferring real estate during the owner's life. The distinguishing feature of quitclaim deeds is that they transfer the current owner's interest with no warranty or covenants of title.
$3.30 per $1,000 of actual consideration on transactions that exceed $100 (Dept. of Finance and Administration). This Real Property Transfer Tax must be paid when submitting the quitclaim deed.
An Arkansas quitclaim deed has the same capacity to transfer title to real estate as Arkansas' other deed forms. However?because a quitclaim deed has no covenants or warranty of title?the transferor does not promise that the transferee will actually receive good, clear title to the property.
Arkansas charges a real property transfer tax for real estate transfers involving more than $100.00 in payment. The total transfer tax rate is $3.30 per $1,000.00 of consideration?two-thirds of which is expressly the new owner's responsibility.
This deed must be signed, notarized, and recorded in the county where the property is located. Some counties have more than one recording office, so you need to be sure this deed is being recorded in the correct recording office. Must list the name and address of the person who prepared this deed.
A warranty deed makes a promise to the buyer that the seller has good title to the property. A quitclaim deed, on the other hand, makes no promises. A quitclaim deed just says; whatever interest I have in this property, I give to you.
An Arkansas warranty deed is a legal document used to transfer ownership of real estate from one party to another in the state of Arkansas. The warranty deed includes a guarantee?called a warranty of title?from the seller (also known as the grantor) to the buyer (also known as the grantee).
