If you own a piece of real estate and want to transfer ownership of said property, there are some very definite steps that you need to take. It’s not just as simple as handing over the keys and wishing the new owner good luck, as there is paperwork and legal details to be sorted out first. It is usually the quit claim deed that is the paperwork that gets the entire process rolling, but how that is obtained and filed can very much vary from state to state. What we will be describing here are the steps that you need to follow in Arkansas, but these may not necessarily be the same for every state across the U.S.
The form itself tends to be very similar, but as already mentioned, the process may be a little different in each state. In Arkansas, the grantor and grantee need to meet and have the signing of the quit claim deed witnessed by a Notary Public based in Arkansas. Let’s take a quick look at how the process works from start to finish.
Before you can get started with the process, you will need to acquire a blank quitclaim deed that is valid in Arkansas. These can be picked up from any real estate attorney or from your local Registry of Deeds. Again, it is incredibly important that you make sure that Arkansas is the state reflected on the deed. Despite the fact that the forms are essentially the same across the board, it still has to be for the state in which the property sits.
A meeting will then need to be set up, with both the grantor (the person currently in possession of the property) and the grantee (the recipient of the property) present. This meeting should take place in front of a Notary Public. The grantor portion of the form is what will be filled out first, with all of the available spaces needing to be filled. Once that is done, the form is dated and signed by the grantor. The grantee then fills out their portion of the quit claim deed and signs and dates it in the space provided at the bottom.
As the information for each part is being filled, the Notary Public should be in attendance and watching the form be completed. Once all the information has been filled in as required, the Notary Public will add his embossed seal and then stamp the form with his license number, followed by his signature and the date that he witnesses the process.
Both the grantor and grantee should make photocopies of the quit claim deed for their own records. The original is then taken to the Registry of Deeds, where the document will be recorded by an abstractor. He or she will fill out all the necessary information required to records the deed and make it legal, at which point you will be asked to pay the recording fee, which is usually anywhere from $10 to $35.