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Gift Deed for Real Estate Located in Missouri. A gift deed, or deed of gift, is a legal document voluntarily transferring title to real property from one party (the grantor or donor) to another (the grantee or donee). A gift deed typically transfers real property between family or close friends.
While only the grantor signs the quitclaim deed in Missouri, they must be notarized. Missouri charges a flat fee for the first page of the quitclaim deed filing around $20, and each additional page is around $3.
The grantee's address must be on the first page of the legal documents. Additionally, quitclaim deeds in Missouri require a physical description of the property being conveyed as well as the tax parcel number. While only the grantor signs the quitclaim deed in Missouri, they must be notarized.
NounLaw. a transfer of all one's interest, as in a parcel of real estate, especially without a warranty of title.
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.
Missouri real estate is transferred using a legal document called a deed. A deed transfers real estate from its current owner (the grantor or transferor) to a new owner (the grantee or transferee). A Missouri deed must meet the requirements of Missouri law to be valid and eligible for recording.
Missouri has no transfer tax. 12. Where are ownership interests recorded and how are they indexed? Real property records are recorded with the various county recorders' offices.
A deed must include the names of the buyer and seller and the property's legal description. The deed is signed by the person transferring the property and may make that person responsible to the buyer for other claims against or conditions on the property.