New York Quitclaim Deed from Three Individuals to Five Individuals
What this document covers
This Quitclaim Deed allows three individuals (Grantors) to transfer their interest in a property to five individuals (Grantees). It is different from other types of deeds, such as warranty deeds, because it does not guarantee that the Grantors have any valid ownership of the property; instead, it simply conveys whatever interest they may have. This form is legally compliant with all state statutory laws, making it a reliable option for property transactions.
Key parts of this document
- Identification of Grantors and Grantees
- Legal description of the property
- Designation of how Grantees will hold the property (e.g., tenants in common, joint tenants with right of survivorship, tenants by the entirety)
- Signatures of Grantors
- Notarization, if required
When to use this form
This form is useful when three individuals wish to transfer ownership of a property to five individuals. It is commonly utilized in situations such as inheritance distribution, property settlements during divorce, or the reallocation of shared family property among multiple parties. Using a Quitclaim Deed helps clarify ownership interests in real estate and may simplify the property transfer process.
Who should use this form
This form is intended for:
- Individuals looking to transfer property without warranty of ownership
- Heirs or beneficiaries managing inherited property
- Co-owners of property reallocating interests
- People involved in informal property agreements among friends or family
How to complete this form
- Identify the Grantors and Grantees, ensuring accurate spelling of names
- Provide a legal description of the property being transferred
- Specify how Grantees will hold the property (e.g., tenants in common, joint tenants with right of survivorship, tenants by the entirety)
- Sign the form in the presence of a notary if required
- Submit the completed form to the relevant local authorities or record it to establish ownership
Notarization requirements for this form
To make this form legally binding, it must be notarized. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session.
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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.
Common mistakes
- Failing to include a proper legal description of the property
- Not designating how Grantees will hold the property
- Neglecting to sign or notarize the deed when required
- Providing inaccurate names or details of individuals involved
Why use this form online
- Immediate access to legal form templates created by licensed attorneys
- Edit and customize the form conveniently using a computer
- Fast and easy downloads, ensuring you have the form when you need it
- Clear instructions to help you complete the form accurately
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FAQ
The Quit Claim Deed form uses the terms of Grantor (Seller or Owner of said property) and Grantee (Buyer of said property) for the two parties involved. First, the parties must fill in the date. Then, write in the name of the county and state in which the property is located.
You would simply prepare a deed to you and your fiance. You would then have to prepare and execute the other necessary forms take them to the clerks office and file them. I suggest that you consult with a local attorney. They can do this at a modest cost.
Under the gift tax rules, the grantor must pay tax on the property through a federal income tax return. The recipient of the property is allowed to pay the tax if she agrees to make the payment. Individuals are allowed an exclusion of $13,000.
To use a Quitclaim Deed to add someone to a property deed or title, you would need to create a Quitclaim Deed and list all of the current owners in the grantor section. In the grantee section, you would list all of the current owners as well as the person you would like to add.
Yes you can. This is called a transfer of equity but you will need the permission of your lender. If you are not married or in a civil partnership you may wish to consider creating a deed of trust and a living together agreement which we can explain to you.
Fill in the deed form. Print it out. Have the grantor(s) sign and get the signature(s) notarized. Complete a transfer tax form, Form TP-584. Complete and print out Form RP-5217 (or, if you are in New York City, Form RP-5217NYC).
But you might be wondering if an owner can transfer a deed to another person without a real estate lawyer. The answer is yes. Parties to a transaction are always free to prepare their own deeds.A quitclaim deed, for example, is far simpler than a warranty deed.
Fill in the deed form. Print it out. Have the grantor(s) sign and get the signature(s) notarized. Complete a transfer tax form, Form TP-584. Complete and print out Form RP-5217 (or, if you are in New York City, Form RP-5217NYC).
Fees to File a Quitclaim Deed in New York As of 2018, the basic fee for filing a quitclaim deed of residential or farm property is $125, while the fee for all other property is $250. These fees are for the RP-5217 form.
