Rhode Island Deed Transfer Questionnaire

State:
Multi-State
Control #:
US-Q1010
Format:
Word; 
Rich Text
Instant download

Description

This form addresses important considerations that may effect the legal rights and obligations of the parties in a transferring real property with a deed. This questionnaire enables those seeking legal help to effectively identify and prepare their issues and problems. Thorough advance preparation enhances the attorney's case evaluation and can significantly reduce costs associated with case preparation.



This questionnaire may also be used by an attorney as an important information gathering and issue identification tool when forming an attorney-client relationship with a new client. This form helps ensure thorough case preparation and effective evaluation of a new client's needs. It may be used by an attorney or new client to save on attorney fees related to initial interviews.


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FAQ

Rhode Island does NOT record by county. Recordings are to be sent to the appropriate City or Town recording office of the PROPERTY ADDRESS. All documents are returned immediately upon recording. If you are mailing in your document, please send to Property Records 43 Broadway Newport, R.I.

A Rhode Island quit claim deed is a document used to transfer interest, claim, or ownership of a property informally. This conveyance of property is recorded and filed in the same county where the property is geographically located with the Rhode Island County Clerk serving that county.

When selling real estate in Rhode Island, all transactions have a real estate conveyance tax, pursuant to RIGL 44-25-1. This payment is collected at closing and a portion of these funds are remitted to the State of Rhode Island and a portion is remitted to the local city or township.

A Rhode Island deed of trust conveys a property title from a person acquiring real estate financing to a ?trustee? as a means to secure a loan from the financier.

The deed transfer tax is known as the realty transfer tax in Rhode Island. The current rate is $2.30 per $500.00. The deed transfer tax is usually paid by seller.

A Rhode Island quitclaim deed swiftly transfers property ownership without title guarantees, often between trusted parties.

A quitclaim deed is used to simply convey any interest in real estate without any assurance the individual named as grantor holds an interest to convey.

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.

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Rhode Island Deed Transfer Questionnaire