North Carolina Quitclaim and Bill of Sale of Pipeline
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How to fill out Quitclaim And Bill Of Sale Of Pipeline?
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FAQ
No guarantees to the new owner: Unlike a warranty deed, a quitclaim deed does not guarantee that a property is free from title defects such as tax liens or title claims from third parties. For this reason, it is a poor legal instrument to use when selling a piece of property for cash considerations.
To properly convey land in North Carolina, the owner must execute and file a new deed with the register of deeds for the county in which the property is located. The most common types of deeds are the General Warranty Deed, the Special Warranty Deed, and the Non-Warranty Deed (also known as the Quit Claim Deed).
Navigating the quitclaim deed process is an extremely arduous task to tackle on your own. You need a knowledgeable real estate attorney who can help you successfully transfer ownership for the most stress-free experience possible.
A North Carolina quitclaim deed allows for the transfer of property from one person to the next without any warranty about the quality of the title. It transfers whatever ownership and interest the grantor (seller/owner) has in a property to the grantee (buyer/new owner).
Recording (N.C.G.S.A. § 47H-2(d)) ? Deeds must be submitted, after completion and acknowledgments, to the Register of Deeds in the county where the real estate is located. Signing (N.C.G.S.A. § 47-38) ? All quit claim deeds are required to be signed with the Grantor(s) being witnessed by a Notary Public.
Before you can transfer property ownership to someone else, you'll need to complete the following. Identify the donee or recipient. Discuss terms and conditions with that person. Complete a change of ownership form. Change the title on the deed. Hire a real estate attorney to prepare the deed. Notarize and file the deed.
How do I add or remove names from a deed? Deed name changes require the submittal of a new deed to the Register of Deeds office. We suggest that you consult an attorney unless you are familiar with creating legal documents.
The grantor completes the quit claim deed form, including their name, the grantee's name, and a legal description of the property. The grantor signs the deed in front of a notary public. The grantee records the deed with the appropriate county office, usually the county recorder or register of deeds.
There are many different types of deeds, and a quitclaim deed is used for specific types of real estate transactions in North Carolina. Typically, these deeds expedite the closing process when transferring properties between family members or spouses.
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.
