Maryland Quitclaim Deed from one Individual to Three Individuals as Joint Tenants with the Right of Survivorship
Definition and meaning
A Maryland Quitclaim Deed is a legal document used to transfer ownership of real property from one individual to multiple individuals as joint tenants with the right of survivorship. This means that when one of the joint tenants passes away, their interest in the property automatically transfers to the surviving tenants, rather than being passed according to a will or inheritance laws.
How to complete a form
Completing the Maryland Quitclaim Deed involves several steps:
- Begin by filling in the names and addresses of all parties involved, including the Grantor (the individual transferring the property) and the Grantees (the individuals receiving the property).
- Indicate the marital status of the Grantor and each Grantee.
- Describe the property being transferred and include accurate details such as the county where it's located.
- Ensure to include the prior instrument reference with book, page, and document number.
- Have the document notarized, which is crucial for its legal validity.
Who should use this form
This form is ideal for individuals looking to transfer property ownership to multiple people, such as family members or partners, under a joint tenancy arrangement. It serves those who want to ensure that the property automatically passes to the surviving individuals without going through probate. Users should consider this deed if they wish to simplify transferring property ownership upon death.
Key components of the form
The Maryland Quitclaim Deed comprises several crucial sections:
- Grantor and Grantee Information: Names, marital statuses, and addresses of all parties involved.
- Property Description: A precise account of the property being transferred, ensuring it is legally identifiable.
- Notary Section: A certification section for a notary public to validate the signing of the document.
- Warranties: The deed states that the Grantor is transferring their interest in the property without any warranties.
Common mistakes to avoid when using this form
When completing the Maryland Quitclaim Deed, be mindful of the following common errors:
- Failing to include accurate property descriptions, which can lead to disputes or invalidation of the deed.
- Not notarizing the document, as this step is essential for its legal acceptance.
- Incomplete or incorrect information regarding the Grantor and Grantees' marital statuses, which can affect the legality of the deed.
What documents you may need alongside this one
When preparing to file a Maryland Quitclaim Deed, you may need the following documents:
- A Land Instrument Intake Sheet, which is required by the state.
- Proof of ownership, such as previous property deeds or tax statements.
- A valid identification for notarization purposes.
What to expect during notarization or witnessing
During the notarization process, a notary public will require the Grantor to present valid identification. They will witness the signing of the Quitclaim Deed and provide their official seal. This process ensures that the identities of the parties are confirmed, thus protecting against fraud. It is advised to sign in front of the notary to avoid future legal complications.
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FAQ
This is known as 'Severing the Joint Tenancy'. It requires service of a written notice of change the 'severance'. It can be done without the other owner's cooperation or agreement. It is recorded at the Land Registry, and the other owner will know it has been done but only 'after the event' so to speak.
In order to sever the right of survivorship, a tenant must only record a new deed showing that his or her interest in the title is now held in a Tenancy-in-Common or as Community Property.
The tenancy will continue if only one joint tenants leaves without having the right to do this. You will only have the right to leave a joint tenancy early if your landlord agrees to this arrangement or if your tenancy agreemetn allows you to.
If you're joint tenants and you both want to leave, either you or your ex-partner can end the tenancy by giving notice. You'll both need to move out. If you've agreed one of you plans to stay, it's usually best to explain this to your landlord and ask them to update the tenancy agreement.
For example, if one joint tenant wants to sell the property but the other joint tenant doesn`t want to sell, it is possible to ask for a court order to either physically divide the property or sell it and divide the sales proceeds among the joint tenant owners.
Joint tenancy can only be created if the four people obtain their interest at the same time. In other words, if three people own a building, they cannot add a fourth person to the deed and create a joint tenancy.
As with the tenancy-in-common, a joint tenancy can exist in three or more people. Obviously, each party must have an interest that is equal to one divided by the total number of joint tenants. If one of the joint tenants dies, the others share his or her interest and they remain joint tenants with each other.
Joint tenancy creates survivorship rights: If one owner dies, the share automatically passes to the surviving owner. You can terminate joint tenancy by transferring your share to the other tenant. A joint tenant also has the right to sell or gift his share to another party.
When joint tenants have right of survivorship, it means that the property shares of one co-tenant are transferred directly to the surviving co-tenant (or co-tenants) upon their death. While ownership of the property is shared equally in life, the living owners gain total ownership of any deceased co-owners' shares.