This Quitclaim Deed from Corporation to Husband and Wife form is a Quitclaim Deed where the Grantor is a corporation and the Grantees are husband and wife. Grantor conveys and quitclaims the described property to Grantees less and except all oil, gas and minerals, on and under the property owned by Grantor, if any, which are reserved by Grantor. This deed complies with all applicable state statutory laws.
Missouri Quitclaim Deed from Corporation to Husband and Wife
Category:
State:
Missouri
Control #:
MO-010-77
Format:
Word;
Rich Text
Instant download
Description
Definition and meaning
A Missouri Quitclaim Deed from Corporation to Husband and Wife is a legal document used to transfer the ownership of real estate from a corporation to a couple. This type of deed conveys whatever interest the corporation holds in the property without providing warranties or guarantees about the title. Essentially, it means that the corporation is relinquishing its rights over the property to the individuals named in the deed.
How to complete the form
Completing the Missouri Quitclaim Deed involves several key steps:
- Gather necessary information: Collect details about the grantor (the corporation) and the grantees (the couple). This includes names, addresses, and contact information.
- Provide legal description: Include a legal description of the property being transferred, which can typically be found in previous title documents.
- Fill out the form: Input all relevant information in the designated form fields, ensuring accuracy and completeness.
- Obtain notarization: Have the document signed in the presence of a notary public to validate the transfer.
- Record the deed: Submit the signed and notarized deed to the county recorder's office where the property is located to make the transfer officially recognized.
Who should use this form
Individuals involved in a property transfer from a corporation to themselves as a couple should use this form. This situation often arises in cases where a company owns real estate that is being gifted or sold to its owners or executives who are married. It is crucial for the grantor to understand the implications of using a quitclaim deed, as it transfers interest without guarantees regarding the property’s title.
Legal use and context
The Missouri Quitclaim Deed is especially useful in situations where the transfer of property does not involve cash payments or when the grantor does not wish to provide warranties. This deed preserves the rights of the grantees while eliminating any future claims from the grantor concerning the property. It is commonly used in intra-family transfers, divorce settlements, or when corporate property is being reassigned to owners as part of estate planning.
Common mistakes to avoid when using this form
When completing a Missouri Quitclaim Deed, be aware of the following common pitfalls:
- Failing to include a complete legal description of the property.
- Not having the deed notarized properly, which can lead to invalidation.
- Leaving out essential information about the grantor or grantees.
- Not recording the deed with the county recorder, which is essential for legal recognition.
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FAQ
It is also crucial that a spouse know about the loan, even if he or she is not on the mortgage. In general, the spouse must sign a deed of trust, the Truth in Lending and Right to Cancel documents. By signing these documents, they are simply acknowledging the existence of the mortgage.
In states like California and Florida, the spouses may use a quitclaim deed to transfer the property without warranting title. Other stateslike Texasrecognize a similar type of deed called a deed without warranty.
Recording fees for quitclaim deeds vary among counties. In Clay County and Platte County, the fee is $24 for the first page and $3 for each additional page.
A quitclaim deed transfers title but makes no promises at all about the owner's title.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.
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 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.
Step 1: Obtain a standard quitclaim form from your county office or use an online form to start drafting your quitclaim deed. Step 2: Include the following on each quitclaim document. Step 3: Create a cover page, if desired.
In order to transfer ownership of the marital home pursuant to a divorce, one spouse is going to need to sign a quitclaim deed, interspousal transfer deed, or a grant deed, in order to convey the title to the property.