Mississippi Quitclaim Deed from Two Individuals to Two Individuals
Understanding this form
This Quitclaim Deed from Two Individuals to Two Individuals is a legal document that allows two individuals (the Grantors) to transfer their ownership rights of a property to another set of two individuals (the Grantees). This deed is particularly useful for conveying property ownership without making any guarantees about the property title, distinguishing it from a warranty deed, which offers such assurances. It includes a clause reserving rights to oil, gas, and minerals underneath the property, if applicable, ensuring that those rights remain with the Grantors.
Key parts of this document
- Identification of the Grantors and Grantees
- Description of the property being transferred
- Statement of consideration for the deed
- Reservation of oil, gas, and mineral rights, if any
- Legal acknowledgment and signatures of the parties involved
When to use this form
This form is appropriate when individuals wish to transfer ownership of property to other individuals without any warranties concerning the title. Common scenarios include family members conveying property among themselves, or partners separating and needing to transfer their share of jointly owned property.
Intended users of this form
- Individuals transferring property rights to family members or friends
- Co-owners of property dissolving their joint ownership
- Parties involved in informal property transactions
- Those seeking to clarify ownership without complex legal obligations
How to prepare this document
- Identify the Grantors by providing full names and their roles in the transaction.
- Identify the Grantees by providing the full names of the individuals receiving the property.
- Describe the property in detail, including the legal description or attach an exhibit if necessary.
- State the consideration amount, typically a nominal fee such as ten dollars.
- Include the date of execution and ensure all parties sign the document.
Notarization requirements for this form
This document requires notarization to meet legal standards. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, available 24/7.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Avoid these common issues
- Failing to accurately identify the property being transferred
- Not including the legal description of the property
- Omitting the reservation of mineral rights when applicable
- Forgetting to have all parties sign the document
Why use this form online
- Easy access to downloadable legal templates created by licensed attorneys
- Convenient editing options to customize your specific needs
- Reliable and secure forms that comply with legal standards
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FAQ
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.
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.
Yes, you can use a Quitclaim Deed to transfer a gift of property to someone. You must still include consideration when filing your Quitclaim Deed with the County Recorder's Office to show that title has been transferred, so you would use $10.00 as the consideration for the property.
Before a quitclaim deed can be recorded with a county recorder in Mississippi, the grantor must sign and acknowledge it. The names, addresses, and telephone numbers of the grantors and grantees to the quit claim deed, along with a legal description of the real property should be provided on the first page (89-5-24).
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.
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.
Discuss property ownership interests. Access a copy of your title deed. Complete, review and sign the quitclaim or warranty form. Submit the quitclaim or warranty form. Request a certified copy of your quitclaim or warranty deed.
Once you sign a quitclaim deed and it has been filed and recorded with the County Clerks Office, the title has been officially transferred and cannot be easily reversed. In order to reverse this type of transfer, it would require your spouse to cooperate and assist in adding your name back to the title.
