This form authorizes the chancery clerk or the recorder of deeds to release from the deed of trust or mortgage certain property described in the document.
Maine Deed of Trust - Release
State:
Multi-State
Control #:
US-00489
Format:
Word;
Rich Text
Instant download
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How to fill out Deed Of Trust - Release?
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FAQ
One such document you must have is the deed. The deed transfers the title of the property to or from you. There are four commonly seen deed categories: Quit Claim, Warranty, Special Warranty, and In Trust Deeds. When buying or selling real estate, it is important to understand the differences in each type of deed.
To be able to record the deed, it must be accompanied by a transfer tax form and payment of transfer tax. Transfer tax rate in Maine is ?$2.20 per $500 or fractional part of $500 of the value of the property being transferred.? Further, transfer tax is imposed 50/50 on both the grantor and grantee.
Current Owner and New Owner Information. Maine deeds must identify by name the current property owner (the grantor) transferring real estate. A deed must also state the new owner's name and address?including street and number, municipality, and state.
The personal representative's (PR) deed of distribution for an intestate estate, under 33 M.R.S. 775-3-A, is a fiduciary instrument used to convey real property from an estate to a successor in interest pursuant to Maine's laws of descent.
Maine Deed Form Maine Quitclaim Deed Form. Maine Quitclaim Deed With Covenant Form. Maine Warranty Deed Form. Maine Life Estate Deed Form. Maine Transfer on Death Deed Form.
Recording ? Like all deeds in Maine, this deed must be acknowledged by a notary and filed with the Registry of Deeds in the County in which the property is located. Real Estate Transfer Tax (§ 4641) ? Must be filed with an accompany deed and can be completed Online or with the Printable Form.
A quitclaim deed without covenant, by definition, has no express warranty or language giving rise to implied covenants of title. The new owner bears all risk of problems with the property's title and cannot sue for breach of warranty if title problems arise.
A deed is a formal document conveying an interest in real property from one party to another. A covenant is most typically going to refer to a condition that is part of either of those transactions, such as a contractual covenant not to compete or a deed covenant to use property in a certain way.
