In the state of Arkansas, a Quitclaim Deed (Short Form) is a legal document used to transfer or convey the ownership interest or claim to a property. It is typically used in situations where the transfer of ownership does not involve a sale or monetary consideration, but rather serves to clarify the ownership rights to a property among existing owners or individuals with an interest in the property. The Arkansas Quitclaim Deed (Short Form) is a simplified version of the standard Quitclaim Deed, providing a straightforward and efficient way to transfer property rights. It contains essential details regarding the property and parties involved, including the names and addresses of the granter (the person transferring the rights) and the grantee (the person receiving the rights). This type of deed does not offer any guarantees or warranties regarding the property's history, condition, or title. It merely transfers whatever ownership interest or claim the granter has in the property at the time of the deed's creation. Consequently, the grantee assumes any potential risks associated with the property, such as undisclosed liens or competing claims. The Arkansas Quitclaim Deed (Short Form) is often used in various scenarios, such as transferring property between family members, adding or removing a name from a property's title, or clarifying ownership percentages among co-owners. Additionally, Arkansas offers different variations of the Quitclaim Deed (Short Form), including: 1. Arkansas Statutory Short Form Quitclaim Deed: This is the standard version of the Quitclaim Deed (Short Form) authorized by state law. It includes the necessary legal language and requirements to be considered valid in the state. 2. Arkansas Joint Tenancy Quitclaim Deed: This version is used specifically in situations where multiple individuals own a property as joint tenants. By using this deed, one joint tenant can transfer their interest or claim to another party while maintaining the joint tenancy ownership structure. 3. Arkansas Tenancy in Common Quitclaim Deed: This type of Quitclaim Deed (Short Form) is applicable when two or more individuals own a property as tenants in common. It allows one tenant in common to transfer their interest or claim in the property to another person while preserving the tenants in common arrangement. It is important to consult with a qualified real estate attorney or legal professional when utilizing any type of Quitclaim Deed in Arkansas to ensure compliance with state laws and to understand the implications of the transfer.
Arkansas Quitclaim Deed (Short Form)
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How to fill out Quitclaim Deed (Short Form)?
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An Arkansas quitclaim deed allows someone who owns a property (grantor) to transfer ownership of that property to someone else (grantee). The property transfer comes with no promises or guarantees about the property's title or the grantor's right to sell the property.
The new owner or that person's agent must submit a signed real property tax affidavit of compliance?or just affidavit of compliance?when filing a deed with the county recorder. The affidavit gives details about the transfer?including the purchase price and transfer tax amount or any exemption.
When transferring property, a seller (often called the grantor), writes out a deed, transferring property to the buyer (often called the grantee). The deed is then recorded with the recorder in the county in which the property is located.
A limited warranty deed transfers legal title to real property. However, this type of deed does not promise clear title; it only guarantees the title for the period during which the grantor owned it. Despite this, it is useful in some situations. This article is for informational purposes.
List the name of the current owner of the property. List the name of the person who is becoming the owner of the property. List the name of the county where the property is located. Fill this out only if no than $100 is paid for the property.
In most cases, an Arkansas Quitclaim Deed costs $300 to prepare, and $15 for the first page and $5 for each additional page in recording costs. For a typical quitclaim deed, the total cost is $320 (a $300 lawyer fee and $20 in recording fees). Your deed will be prepared and recorded by a licensed Arkansas attorney.
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.
