Quit Claim Deed Maine
Need a Quitclaim Deed Maine?
A Quitclaim Deed is a document stating that a person is giving up their legal interest in a real property, such as land or a house. It offers little protection to the person receiving the interest, so it is most often used between family members who have already established trust (such as gifting a house to a close relative). Create your own Quit Claim Deed Maine Now.
A quitclaim deed releases a person's interest in a property without stating the nature of the person's interest or rights, and with no warranties of that person’s interest or rights in the property. A quit claim deed neither states nor guarantees that the person relinquishing their claim to the property had valid ownership, but it does prevent that person (the grantor) from later claiming they have an interest in the property.
Quit claim deeds transfer title but makes no promises at all about the owner’s title. A quitclaim deed transfers the owner’s entire interest in the property to the person receiving the property but it only transfers what he actually owns. For example, if two people jointly own a property and one of them quitclaims his interest to his brother, he can only transfer his half of the ownership.
Simply create your own Quitclaim Deed Maine Online!
Customized Maine Quit Claim Deed
Create your own Maine Quitclaim Deed!
Quitclaim deeds are most often used to transfer property between family members. Examples include when an owner gets married and wants to add a spouse’s name to the title or deed, or when the owners divorce and one spouse’s name is removed from the title or deed. In other cases, a quitclaim deed can be used when parents transfer property to their children or when siblings transfer property to each other.
Some families or parties opt to put their real property into a family trust, and a quit claim deed can be used then as well.
Maine quit claim deeds are also most commonly used when property is transferred without a traditional real estate sale. Examples include when property is transferred between family members (such as parents transferring a home to their children), between married spouses (after marriage when one spouse wants to add the other to the title of his or her separate property), between divorcing spouses (when one spouse will keep the home), or when property is being transferred into a living trust.
The deed transfer is done simply and there is no title search or title insurance used. It is fast and easy. Quit claim deeds are not used for real estate sales, because the new owner receives no guarantees about the title and how valid it is.
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Why would you use a Maine Quit Claim Deed?
Here are some situations that you may possibly be using a Quitclaim Deed in Maine:
- Are giving up your interest in real property to a spouse or ex-spouse.
- Are gifting your property to another person or family member.
- Need to transfer property to a trust.
- Want to show a name change that affects an existing deed.
- Want to transfer property to a business or other entity.
- Have been asked by a title company to resolve a "cloud" on the title.
To transfer title by quitclaim, a quitclaim deed must be in writing to be valid. This legal document includes a legal description of the property that is being deeded, the state and county it is located in, date of transfer, and the names of the grantor (person transferring the property) and grantee (person receiving the property). If a price has been paid for the transfer, that amount is included.
Create your own Quit Claim Deed Maine Fast.
Create your own Quitclaim Deed Maine.
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