Free Alaska Quitclaim Deed Form

When to Use a Quitclaim Deed in Alaska

Did you know that it is a Quitclaim deed and not a quit claim or a quick claim deed? Yes, you have been saying it incorrectly all this time, which could also mean that you have the meaning wrong. If you are considering getting a rental lease from family, this is a document you need to get a hold of and sign. Before you do, you must know what it means. Fortunately, this article aims to clear the air on everything quitclaim deed, the non-warranty deed, a quitclaim deed form or simply a quitclaim.

What is a quitclaim?

A quitclaim, specifically a quitclaim deed in Alaska refers to a legally-binding document that quits or transfers an interest or a claim on real property from one party to another. Often, the free deed comes into play between family members transferring property between one other or when transferring real property to a business entity or a trust. In this quitting, transfer or conveyance of interests in property, the deed form will only note that the person who is giving up their interests in the named property (the grantor) is transferring their interests in the property to the grantee, even if they don’t own the property. In this case, by signing the deed form, the grantor indicates their willingness to transfer their assumed or acquired interest over the property legally. It, therefore, means that this document marks a property rights/ interests transfer without a sale.

What is the Difference Between a Warranty Deed and a Quitclaim Deed?

When it comes to transferring real estate/ real property in Alaska, quitclaims and warranty deeds are your top conveyance instruments. So, you need to know when to use one or the other.

Unlike the quitclaim, the warranty deed is the most popular document used in the transfer/ actual sale of a property to a third party. A warranty deed makes an actual promise that the person who is transferring their interests/ rights to the named property has an actual title to the property, and they have the right to sell it. So, the warranty deed protects the buyer, even promising compensation should there be another party with a superior title to a named property. The quitclaim does not hold/ carry any such promises, and the property could have liens like tax liens, or mortgage. Your quitclaim, once signed, does not make any promos about the grantor being the owner. It only transfers all the interests of the owner to the grantee, and if the property is co-owned, then the grantee only gets the rights of the named grantor, co-sharing the property with the co-owner.

Also, unlike the warranty deeds, there is no title insurance or title search involved in quitclaim forms, hence their absence in real property sales.

When do you need a quitclaim?

  • Since this form comes in handy in traditional property transfers that do not involve any transfer of cash or sales, below are the circumstances that call for the use of a quitclaim form:

    • Transfer of property between family members, for example, parents transferring their home to their children or grandchildren.

    • Property transfer between couples (married spouses) especially after getting married where one spouse wishes to add the other party title to their separate property

    • Property transfer between couples in a divorce, often, the grantor does this for the grantee to keep their marital home or any other property.

    • Transfer of property to a living trust.

    • Clearing up a property title, especially if an issue is anticipated when someone else gets ownership of interests and rights to the property.

    • Effectuating a name change affecting an existing property deed

    • A document presented to resolve a form of cloud on title, when asked by the title company.

Creating a quitclaim

  • First, download a printable template. The template is a free Alaska quitclaim deed form which comes in PDF format. The sample is crucial because the document must be in writing for validity. Once you have the quitclaim form, ensure that it meets all statutory requirements. The requirements include:

    • The grantor should be 18 years or older (legal age). Alternatively, they could appoint an agent, also of legal age, to act on their behalf

    • The document must carry the grantor’s original signature, or the agent’s.

    • A title accurately reflecting the general intent/ purpose of the document

    • Page/ book reference/ serial number of previously recorded title deed

    • Name/ address of the party the deed is to be returned once it’s recorded

    • Grantor’s & Grantee’s names and their valid mailing addresses.

    • Name of the district that the deed is recorded

    • Succinct and legally acceptable description of the property

    • Consideration paid (if any)

    • The document must be signed and also dated by the Notary public as an acknowledgment of the property rights conveyance. Besides the notary public, the statutes in section 34.15.010 provide that any other holder or office with authority to oversee oaths can certify the signatures and acknowledge the property rights transfer.

    • For married grantors transferring family homes, the document must bear the signature of their spouse, if present.

Even though recording the quitclaim form isn’t mandated by the state law, it is advisable to have the transfer updated in the public records.

Limitations of the Quitclaim

Despite the authority that the document carries, beware of its limits. These limitations include the fact that the non-warranty deed has no guarantees, it carries no guarantee or title, and it doesn’t have the power to change your mortgage.

Also, it doesn’t supersede Wills, it might have some statutes of limitations, and some of the community laws on the property might supersede your quitclaim.

These limitations notwithstanding, the quitclaim deed is a fast and effortless way of moving property between family members/ loved ones.

If you’d like to use the document for your sibling’s rental lease or any other reason, download our free quitclaim deed here today. The free deed is accessible to anyone in Anchorage, Wasilla, Fairbanks, Juneau, Ketchikan, Sitka, Seward, Barrow, Nome, or any other city in Alaska.