Homepage Printable Quitclaim Deed Document Free Quitclaim Deed Template for North Carolina

Misconceptions

When it comes to property transfers, the North Carolina Quitclaim Deed is often misunderstood. Here are seven common misconceptions about this legal document:

  1. A quitclaim deed transfers ownership of a property.

    This is partially true. A quitclaim deed does transfer ownership, but it only conveys whatever interest the grantor has in the property. If the grantor has no legal claim, the recipient receives nothing.

  2. Quitclaim deeds are only for transferring property between family members.

    While quitclaim deeds are frequently used in family transactions, they can be used by anyone. Friends, business partners, or even strangers can use this type of deed for property transfers.

  3. A quitclaim deed eliminates all liabilities associated with the property.

    This is a misconception. The quitclaim deed does not remove any liens or debts attached to the property. The new owner may still be responsible for any existing obligations.

  4. Quitclaim deeds are only valid in North Carolina.

    Actually, quitclaim deeds are recognized in many states, though the rules and implications can vary. Understanding local laws is essential for anyone considering this type of deed.

  5. You do not need to record a quitclaim deed.

    While it is not legally required to record a quitclaim deed, doing so is highly advisable. Recording the deed protects the new owner's interest and provides public notice of the ownership transfer.

  6. A quitclaim deed can be used to transfer property with a mortgage.

    This is misleading. While you can transfer a property with a mortgage using a quitclaim deed, the mortgage remains in the original owner's name unless the lender agrees to release them from liability.

  7. Once a quitclaim deed is signed, it cannot be revoked.

    This is not entirely accurate. A quitclaim deed can be revoked if both parties agree to the revocation. However, once recorded, it becomes a matter of public record, making the process more complicated.

Understanding these misconceptions can help individuals make informed decisions when considering property transfers in North Carolina. Knowledge is key in navigating the complexities of real estate transactions.

PDF Form Details

Fact Name Description
Definition A quitclaim deed is a legal document used to transfer ownership of real estate without any warranties.
Governing Law The North Carolina Quitclaim Deed is governed by North Carolina General Statutes, Chapter 47.
Parties Involved The form involves two parties: the grantor (seller) and the grantee (buyer).
Use Cases Commonly used among family members, for property transfers, or to clear up title issues.
Consideration While a consideration amount is often included, it can be as little as $1.
Recording Requirements The deed must be recorded in the county where the property is located to be effective against third parties.
Limitations This type of deed does not guarantee that the grantor has clear title to the property.

Key takeaways

When dealing with the North Carolina Quitclaim Deed form, it’s essential to understand its implications and proper usage. Here are four key takeaways:

  • Purpose of the Quitclaim Deed: This form is primarily used to transfer ownership interest in real property without guaranteeing the title. It is often utilized between family members or in divorce settlements.
  • Filling Out the Form: Ensure that all required fields are completed accurately. This includes the names of the grantor (the person transferring the property) and the grantee (the person receiving the property), as well as a clear description of the property.
  • Notarization Requirement: The deed must be signed in the presence of a notary public. This step is crucial for the deed to be legally valid and enforceable.
  • Recording the Deed: After completing the form, it should be recorded with the local county register of deeds. This step provides public notice of the ownership transfer and protects the grantee’s rights.

North Carolina Quitclaim Deed Example

North Carolina Quitclaim Deed

This Quitclaim Deed is made on this ____ day of ____________, 20__ by and between:

  • Grantor: _____________________________________________
  • Grantee: _____________________________________________

By this deed, the Grantor does hereby remise, release, and quitclaim to the Grantee, all the right, title, interest and claim in and to the following described property, located in the County of __________, State of North Carolina:

Legal Description of Property:

______________________________________________________________

______________________________________________________________

The Grantor affirms that they hold title to the aforementioned property and have the right to convey this title without any restrictions. The Grantor does hereby relinquish any and all claims to the property as of the date stated above.

This deed shall be recorded in the appropriate office in the county of ________________, North Carolina.

In witness whereof, the Grantor has executed this Quitclaim Deed on the date first above written.

Grantor Signature:_____________________________

Print Name:_________________________________

State of North Carolina

County of ______________

On this ____ day of ____________, 20__, before me, a Notary Public, personally appeared ______________________________________________________, known to me (or satisfactorily proven) to be the person who executed the within instrument, and acknowledged that they executed the same for the purposes therein contained.

In witness whereof, I hereunto set my hand and official seal.

Notary Public Signature:______________________

My Commission Expires:______________________

Dos and Don'ts

When filling out the North Carolina Quitclaim Deed form, it’s essential to follow specific guidelines to ensure accuracy and legality. Here’s a list of things you should and shouldn’t do:

  • Do provide accurate property descriptions. Ensure that the legal description of the property is clear and precise.
  • Do include the names of all parties involved. Both the grantor (the person transferring the property) and the grantee (the person receiving the property) should be named.
  • Do sign the form in front of a notary public. A notary’s acknowledgment is necessary for the deed to be valid.
  • Do check for any outstanding liens or encumbrances on the property before transferring ownership. This helps prevent future disputes.
  • Don’t leave any sections blank. Each part of the form must be filled out completely to avoid delays in processing.
  • Don’t use outdated forms. Always ensure you have the most current version of the Quitclaim Deed form for North Carolina.