Indiana Sample Letter for Quitclaim Deed
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How to fill out Sample Letter For Quitclaim Deed?
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FAQ
This type of deed is often used for transfers between family members, divorce settlements, or to clear up title issues. Unlike a warranty deed, a quit claim deed provides no guarantee of the seller's ownership rights or any responsibility for outstanding liens or encumbrances on the property.
Most divorce professionals request a Quit Claim Deed when transferring property for a divorce sale. A basic understanding of the various real estate deeds, i.e., Quitclaim deed vs. Warranty deed, is a must when transferring title and ownership to real estate during a divorce.
Indiana. In Indiana, a quitclaim deed must be notarized in order to make the transaction official. There must be a legal description of the property that matches other records for it.
A quitclaim deed transfers the title of a property from one person to another, with little to no buyer protection. The grantor, the person giving away the property, gives their current deed to the grantee, the person receiving the property. The title is transferred without any amendments or additions.
Transferring Indiana real estate usually involves four steps: Locate the prior deed to the property. ... Create the new deed. ... Sign the new deed. ... Record the original deed.
How do I add my spouse to my deed in Indiana? You will need to have the quitclaim deed notarized with the signatures of you and your spouse. Once this is done, the quitclaim deed replaces your former deed and the property officially is in both of your names. You must record the deed at your county office.
Due to this, quitclaim deeds typically are not used in situations where the property involved has an outstanding mortgage. After all, it would be difficult for many grantors to pay off a mortgage without proceeds from the sale of the property.
You may find a draft deed online, through your local library, or another source. You can download this quit claim deed for simple transactions without warranties, such as adding/removing a person(s) to title. The Grantor is the person(s) currently listed as the owner(s).
