Virginia Quitclaim Deed - Two Individuals to Three Individuals
What this document covers
The Quitclaim Deed for two individuals to three individuals is a legal document that allows two grantors to transfer their ownership interest in a property to three grantees. Unlike a warranty deed, this quitclaim deed does not guarantee the grantors have clear title to the property. The property can be taken either as tenants in common or as joint tenants with the right of survivorship, depending on the preferences of the grantees.
Form components explained
- Identification of the grantors (the two individuals transferring the property).
- Identification of the grantees (the three individuals receiving the property).
- Description of the property being transferred.
- Specification of the type of ownership (tenants in common or joint tenants with rights of survivorship).
- Signature sections for grantors and notarization requirements.
When to use this form
This form should be used when two individuals wish to transfer their interest in a property to three individuals. This situation often arises in contexts such as family property transfers, joint investments, or estate planning, where ownership needs to be distributed among multiple parties.
Who should use this form
- Individuals involved in co-ownership arrangements.
- Family members wishing to transfer property among relatives.
- Partners in a business or investment looking to formalize asset ownership.
- Individuals managing estate or trust matters that involve multiple beneficiaries.
Steps to complete this form
- Identify the parties involved: the two individuals as grantors and the three individuals as grantees.
- Provide a clear description of the property being conveyed.
- Specify whether the grantees will hold the property as tenants in common or joint tenants with rights of survivorship.
- Ensure all grantors sign the deed in the presence of a notary public.
- Submit the completed deed to the appropriate local government office for recording.
Does this document require notarization?
This form must be notarized to be legally valid. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call.
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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 to avoid
- Failing to accurately describe the property being transferred.
- Not specifying the type of ownership (tenants in common vs. joint tenants).
- Missing signatures from all grantors.
- Not completing the form in the presence of a notary if required.
Advantages of online completion
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- Editable templates allow for easy customization.
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FAQ
Adding someone to your house deed requires the filing of a legal form known as a quitclaim deed. When executed and notarized, the quitclaim deed legally overrides the current deed to your home. By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership.
If the quitclaim deed requires the signature of all co-owners, the deed is invalid unless all co-owners have signed it and the deed is then delivered to the grantee.If one individual owns real estate and desires to add a co-owner such as a spouse, a quitclaim deed might be used.
Six people can be on title. It can cause a lot of problems when it comes time to sell though. If even one of the six won't sign, you have a problem. They can sign at different times and from different locations depending on the closing attorney or escrow company.
It is possible to be named on the title deed of a home without being on the mortgage. However, doing so assumes risks of ownership because the title is not free and clear of liens and possible other encumbrances.If a mortgage exists, it's best to work with the lender to make sure everyone on the title is protected.
A quitclaim deed transfers title but makes no promises at all about the owner's title.A person who signs a quitclaim deed to transfer property they do not own results in no title at all being transferred since there is no actual ownership interest. The quitclaim deed only transfers the type of title you own.
In most cases, the surviving owner or heir obtains the title to the home, the former owner's death certificate, a notarized affidavit of death, and a preliminary change of ownership report form. When all these are gathered, the transfer gets recorded, the fees are paid, and the county issues a new title deed.
The law doesn't forbid adding people to a deed on a home with an outstanding mortgage. Mortgage lenders are familiar and frequently work with deed changes and transfers.When you "deed" your home to someone, you've effectively transferred part ownership, which could activate the "due-on-sale" clause.
The only way to forcibly change the ownership status is through a legal action and the resultant court order. However, if an owner chooses to be removed from the deed, it is simply a matter of preparing a new deed transferring that owner's interest in the property.
A quitclaim deed affects ownership and the name on the deed, not the mortgage. Because quitclaim deeds expose the grantee to certain risks, they are most often used between family members and where there is no exchange of money.Quitclaim deeds transfer title but do not affect mortgages.
