What Is The Importance Of A Quit Claim Deed? in Quitclaim Deed

Real estate ownership transfer is the act of transferring the ownership of real estate from one party to another. It is commonly done through deeds, contracts, or other legal documents.

Deeds are legal documents that transfer title of property from one owner to another. A quit claim deed is a legal document that transfers the title of property from one person to another. A quit claim deed does not convey any interest in the land being transferred. Read on and find out about the importance of quit claim deed in Iowa.

Importance of a Quit Claim Deed

A quit claim deed is basically a document that transfers ownership of real property without any transfer tax. In order to do this, a person must first file a quit claim deed with the county recorder’s office. A quit claim deed is not considered legal until it has been filed with the county recorder. Once the deed has been recorded, it becomes official and cannot be changed without court approval.

It is possible for you to get a free Quit claim deed form easily online. This can be downloaded from websites that have legal forms available on offer to be downloaded and printed at will. You can even get the chance to customize one of these documents and make it more suitable for your personal requirements. Generally, these websites are run by lawyers themselves or by insiders of the legal industry, and so you can be assured of proper legal terminology and sections being used in these templates.

The most important thing about a quit claim deed is that it does not affect the title of the land. If someone sells their house to someone else, they still own the house. However, if they sell the house with a mortgage, then the buyer takes over the mortgage.

With this kind of a document in your possession, you can get the opportunity to avoid long-drawn and more expensive legal processes associated with the transfer of ownership of real estate. This is undoubtedly one of the most important benefits of having a quit claim deed in place.

Author Bio

Carl writes often about online legal drafting like affidavit, bill of sale and quitclaim deed forms to help the people.

Last updated September 19, 2022