This form is a Quitclaim Deed where the Grantor is an individual and the Grantees are two individuals or husband and wife. Grantor conveys and quitclaims any interest Grantor might have in the described property to Grantees. The Grantees take the property as tenants in common; joint tenants with the right of survivorship; or as tenants by the entireties. This deed complies with all state statutory laws.
Virginia Quitclaim Deed - One Individual to Two Individuals / Husband and Wife
Category:
State:
Virginia
Control #:
VA-030-77
Format:
Word;
Rich Text
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FAQ
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.
You will need to have the quitclaim deed notarized with the signatures of you and your spouse. Once this is done, the quitclaim deed replaces your former deed and the property officially is in both of your names. You must record the deed at your county office.
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.
In order to transfer ownership of the marital home pursuant to a divorce, one spouse is going to need to sign a quitclaim deed, interspousal transfer deed, or a grant deed, in order to convey the title to the property.
If you live in a common-law state, you can keep your spouse's name off the title the document that says who owns the property.You can put your spouse on the title without putting them on the mortgage; this would mean that they share ownership of the home but aren't legally responsible for making mortgage payments.
When it comes to reasons why you shouldn't add your new spouse to the Deed, the answer is simple divorce and equitable distribution. If you choose not to put your spouse on the Deed and the two of you divorce, the entire value of the home is not subject to equitable distribution.
How do I add someone or remove someone from my deed? To make changes to ownership of property, a new deed will need to be prepared and recorded in the Clerk's Office where the property is located. The Commonwealth of Virginia does not provide any forms for deed transfers.
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.