This form is a Quitclaim Deed where the Grantor is an individual and the Grantees are three Individuals. Grantor conveys and quitclaims the described property to Grantees. Grantees take the property as joint tenants with the right of survivorship or as tenants in common. This deed complies with all state statutory laws.
Missouri Quitclaim Deed from One Individual to Three Individuals
Category:
State:
Missouri
Control #:
MO-036-77
Format:
Word;
Rich Text
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The title of the document. The date of the transfer. All grantors' names. Any grantees' names. Statutory addresses. A legal description for the property. References to the page numbers of the reference books, if applicable.
Quitclaim Does Not Release Debts Signing a quitclaim deed and giving up all rights to the property doesn't release you from any financial obligations you may have. It only removes you from the title, not from the mortgage, and you are still responsible for making payments.
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.
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 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.
Unlike a general warranty deed, there's no guarantee made as to the ownership. There's no title search completed and no title insurance issued. Lenders wouldn't accept a quitclaim deed being used to purchase a property.
Quitclaim deeds are most often used to transfer property between family members. Examples include when an owner gets married and wants to add a spouse's name to the title or deed, or when the owners get divorced and one spouse's name is removed from the title or deed.
