Summary of Quitclaim Deed
A Tennessee Quitclaim Deed is a legal document used to transfer ownership of real property from one individual to another. This form is particularly useful when the grantor (the person transferring the property) wants to convey their interest in the property without making any guarantees about the title. It is commonly used in situations where the parties know each other, such as family members or friends, and the transfer is not part of a sale.
When this form may be needed
This form is typically used in various scenarios, including:
- Transferring property between family members, such as parents to children.
- Transferring property as part of a divorce settlement.
- Clearing up title issues by transferring interests among co-owners.
- Gifting property to friends or relatives.
Who benefits from using Quitclaim Deed
This form is intended for individuals who wish to transfer property ownership without the complexities of a warranty deed. Typical users include:
- Individuals transferring property to family members.
- Couples separating or divorcing who need to divide assets.
- Co-owners of a property who want to clarify ownership.
What this form contains
The Tennessee Quitclaim Deed includes several important sections:
- Grantor and Grantee Information: Names and statuses (married or unmarried) of the individuals involved.
- Property Description: A detailed description of the property being transferred, including its location and any relevant parcel numbers.
- Consideration: The amount paid for the property, typically a nominal sum.
- Notary Acknowledgment: A section for notarization to confirm the identities of the parties involved.
- Affidavit: A statement affirming the value of the property being transferred.
Instructions for completing the Quitclaim Deed
Follow these steps to fill out the Quitclaim Deed:
- Identify the Parties: Enter the names of the grantor (the person giving up the property) and the grantee (the person receiving the property).
- Describe the Property: Provide a clear description of the property, including its address and any parcel numbers.
- State the Consideration: Indicate the amount of money exchanged for the property, often a nominal amount like ten dollars.
- Complete the Notary Section: Leave space for a notary public to sign and seal the document, confirming the identities of the parties.
- Sign the Document: Have the grantor sign the deed, indicating their agreement to transfer the property.
How state laws may affect this form
This Quitclaim Deed is specifically designed for use in Tennessee. It adheres to state laws regarding property transfers, including the requirement for notarization. Ensure that all local regulations are followed when completing and recording the deed.
Complete this form from anywhere
Accessing the Tennessee Quitclaim Deed online offers several advantages:
- Convenience: Download and complete the form at your own pace, from anywhere.
- Editability: Easily fill in the form fields digitally, reducing the chance of errors.
- Legal Reliability: The form is prepared by licensed attorneys, ensuring it meets legal standards.
