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Arizona Quitclaim to Tenancy in Common

Tenancy In Common

Name: Arizona Quitclaim to Tenancy in Common
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.59 (413 reviews)

Category:

Arizona Real Estate - Deeds - Quitclaims

State:

Arizona

Control #:

AZ-REAL-5

Format:

Instant download

Description

Quitclaim to Tenancy in Common: This form is used by a Grantor of a parcel of land, when he/she gives and/or sells his/her interest in said property, to Grantees as tenants in common. The disclaimer further states that the Grantor will no longer claim any rights in the property sold to the Grantees. It is available for download in both Word and Rich Text formats.

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FAQ

Recording: Quitclaim deeds in Arizona are filed with the County Recorder's Office. Along with the form, all necessary fees must be paid. Property owners need to file in the county where the property is located. The form must be recorded with 60 days of the notarization.

A quitclaim deed is a deed (proof of ownership) that is passed from a grantor (the existing property owner) to a grantee (the new property owner) that does not have a warranty.A quitclaim deed has no guarantees for the grantor or grantee.

A person who signs a quitclaim deed to transfer property they do not own results in no title at all being transferred since there is no actual ownership interest. The quitclaim deed only transfers the type of title you own.

The drawback, quite simply, is that quitclaim deeds offer the grantee/recipient no protection or guarantees whatsoever about the property or their ownership of it. Maybe the grantor did not own the property at all, or maybe they only had partial ownership.

A quitclaim deed affects ownership and the name on the deed, not the mortgage. Because quitclaim deeds expose the grantee to certain risks, they are most often used between family members and where there is no exchange of money.Quitclaim deeds transfer title but do not affect mortgages.

A quitclaim deed is quick and easy because it transfers all of one person's interest in the property to another.The deed transfers all claims the seller has to the property, if any. If the seller has no interest in the real estate, no interest is transferred.

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.

Fill in the deed form. Print it out. Sign and get the signature(s) notarized. Prepare and sign an Affidavit of Property Value, if required. Check the recording fees in your county. Record the document at the county recorder's office.

Yes, you can use a Quitclaim Deed to transfer a gift of property to someone. You must still include consideration when filing your Quitclaim Deed with the County Recorder's Office to show that title has been transferred, so you would use $10.00 as the consideration for the property.

Tenancy In Common

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Where do I file a quit claim deed in Arizona?

Is a quit claim deed proof of ownership?

Does a quitclaim deed give you ownership?

What are the disadvantages of a quit claim deed?

Does a quit claim deed mean you own the property?

Are there any benefits to using a quitclaim deed?

Can I prepare my own quit claim deed?

How do you fill out a quit claim deed in Arizona?

Does a quitclaim deed require consideration?

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