Ohio Quitclaim Assignment of Assets
Description
How to fill out Quitclaim Assignment Of Assets?
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FAQ
The quitclaim deed carries no covenants or warranties. It is used to convey less than a fee simple estate or to cure a cloud on the title.
Record the deed at the recorder's office in the county where the property is located for a valid transfer. Contact the same office to confirm accepted forms of payment. A Conveyance Fee Statement (Form DTE 100, or DTE 100EX if claiming an exemption) must be signed by the grantee and filed with the deed.
If a property was transferred by a quitclaim deed before the grantor's death, it won't be part of the grantor's estate, and therefore won't go through probate.
Ohio. In Ohio, quitclaim deed requirements vary from other states. In addition to the name of the grantor of the property, an Ohio quitclaim deed must state the marital status of the grantor and the name of their spouse, if applicable. Additionally, the county where the grantor resides must be on the quitclaim deed.
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.
Contrary to the law and established custom in other states, the expression ?to have and to hold? (called the ?habendum clause? of a deed) is not necessary, nor are witnesses or seal required. The deed should be dated, but this too is not necessary to its validity.
A quitclaim deed contains no covenants or warranties of title.
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.
