A Quit claim deed is used to transfer property from person to another. These deeds are used in most if not all 50 states, and while transferring the deed is basically simple no matter state you live in, you still need to know and follow the procedure for filing a quit claim deed in the state you live in. This article, will explain to you How to file Quit Claim Deed in the State of Virginia.
When To Use A Quit Claim Deed
Since a Quit Claim deed offers no warranty of property status, most quit claim deeds are used in cases where the grantor (the person transferring the property to another) has some form of relationship with the grantee (person they are transferring the property too). Quit claims deeds are often used when transferring ownership of your part of a property to your spouse (ex-spouse) after divorce, or to another relative such as child, or sibling. While it is most often used to transfer title or remove someone’s name from the deed, it can also be used to add someone’s name to a deed as well.
If the property being transferred is owned by more than one person, then the grantor can only legally transfer their interest in the property.
Filling Out a Quit Claim Deed
You can get the form for a Quit Claim deed from your County Clerk’s Office, or purchase one from any number of online sources that offer legal forms. Once you have the form then you need to fill out all the sections of the forms to satisfy your obligation for filing a quit claim in the state of Virginia.
You will need:
- Legal description of the property. This information can be found in public records or taken from the current deed itself.
- Along with the legal description you will also need to list the city and county where the property is located.
- The legal name of both the grantor and grantee
- Must state whether the property is held in sole ownership, community property, joint tenancy, or Tenants in common.
- If you plan on maintaining a life estate (living on the property until after your death) after transferring the property, this needs to be clearly declared on the deed as well.
- Amount of Consideration. In order for the deed to be legal some consideration needs to be given in exchange for the deed to the property. In cases, of a quit claim deed, where the property is normally given to a relative or someone you are close to, it is not unusual to list as little as $1.00 as the consideration. Keep in mind that transfer fees are usually based on the amount of the consideration. And these fees must be paid at the recording of the deed.
Making the Deed Legal
Once the deed is completely filled out, then the deed needs to be signed by the parties and notarized by a notary public. The deed is then taken to county clerks office, filed and the transfer fees paid.
Do keep in mind, that if there any previous billed county taxes due on the property, these taxes must be paid in full prior to the recording of the deed.
While filling a quit claim deed in Virginia is a simple process, you do need to follow all of the legal steps when doing so, or the deed could be found to be invalid.