Nevada Sample Letter for Quitclaim Deed for Foreclosed Property
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How to fill out Sample Letter For Quitclaim Deed For Foreclosed Property?
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FAQ
In a quitclaim deed, the rights of one party pass to another party, called the grantor and grantee, respectively. As a spouse, you give up your interest in the property when you sign a quitclaim deed. This means that you no longer have a legal right to it.
Prepare and Pay Real Property Transfer Tax. The transfer tax is calculated at the rate of $2.55 per $500 of value or a fraction thereof.
As with any conveyance of real estate, a gift deed requires a complete legal description of the parcel. Recite the source of title to establish a clear chain of title, and detail any restrictions associated with the property. A Declaration of Value form must accompany all real property documents.
Recording Requirements § 111.315: For future property rights protection, all deeds, including quitclaim deeds, must be recorded at the county's Recorder's Office where the property is situated. Transfer Tax: Yes: $1.95 for each $500 of the property value if the value is over $100. A few counties require more.
Nevada law requires that deeds include certain information to be recordable and validly transfer ownership of real estate. Names and addresses, a legal description and parcel number for the property, and the current owner's notarized signature all must appear within a quitclaim deed or other Nevada deed.
If the person to be removed is alive, then you will need a court order or their cooperation such that you can record a new deed that removes them. Quitclaim and warranty deeds are common solutions. If an owner of a property has passed away, you will need to transfer the property to the living owners.
A conveyance of Nevada real estate must be evidenced by a deed signed by a property owner of lawful age or by the owner's authorized agent or attorney. Nevada law assumes that a deed transfer's the owner's entire interest?including any water rights or after-acquired title?unless the deed expressly limits the transfer.
