This form is a Quitclaim Deed where the grantors are two individuals and the grantee is a revocable trust. Grantors convey and quitclaim the described property to grantee. This deed complies with all state statutory laws.
Indianapolis Indiana Quitclaim Deed - Two Individuals to a Revocable Trust
Category:
State:
Indiana
City:
Indianapolis
Control #:
IN-024-77
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Word;
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FAQ
The alternative spellings quit claim deed and quit-claim deed are generally acceptable?though used less frequently. Oklahoma legal professionals also use the word quitclaim as a verb indicating that an owner is transferring an interest without warranty. Release deed can be a synonym for quitclaim deed in some contexts.
The lender will need to be satisfied that you will be able to afford the mortgage as the sole mortgagor. The mortgage lender will then need to give you written consent in order to remove the other party from the deeds to your house. The lender will require the change in ownership to be carried out by a solicitor.
If you need to remove a name from a title deed for a property with a mortgage on it, you will need written consent to do so from the lender. Generally, it is easier to obtain this if the person(s) left on the title deed is (are) sufficiently financially secure.
A quitclaim deed transfers the title of a property from one person to another, with little to no buyer protection. The grantor, the person giving away the property, gives their current deed to the grantee, the person receiving the property. The title is transferred without any amendments or additions.
A Quitclaim Deed transfers only whatever ownership in property the person doing the Quitclaim Deed has. For example, if someone has no legal ownership in a house, and that person signs a Quitclaim Deed saying you now have ownership, you have nothing.
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.
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 survivorship affidavit can only be used if two or more people are listed as owners and one of them is deceased. It is filed by the surviving party to remove the deceased owner.
Indiana Quit Claim Deed Form ? Summary The Indiana quit claim deed form gives the new owner whatever interest the current owner has in the property when the deed is signed and delivered. It makes no promises about whether the current owner has clear title to the property.
Recording ? Must be filed at the County Recorder's Office where the real estate is located. Signing (§ 32-21-2-3) ? All quitclaim deeds that are recorded in Indiana are to be signed in front of a Notary Public (Grantor(s) only).