Free Arkansas Quitclaim Deed Form

Essential Things You Should Know About the Quitclaim Deed in Arkansas

According to the Arkansas statutes, a quitclaim refers to the document that’s used to convey one’s interests or rights to a piece of real property. The real property transferred could be anything ranging from land, a condo, a home, or any other type of real estate. The person who conveys their right to the property is the grantor while the person or party that receives the real property is a grantee.

The quitclaim deed is also called a quitclaim deed form, a quitclaim, or a non-warranty deed. It is, however, misspelled in some cases where it is referred to as a quick claim deed, albeit because the document presents one of the easiest ways for transferring interests in real estate.

How different is the quitclaim from a warranty deed?

While these two represent the legally acceptable documents used to transfer ownership of rights or interests in real estate, warranty deeds are more common than he quitclaims. The reason for this is that the warranty deed offers the promise of transferring property with a good title to the recipient. As the name suggests, the warranty deed provides warranty for the real property on sale, and by extension, protection to the person taking over ownership of the property. On the other hand, the quitclaim doesn’t have a warranty of title hence a non-warranty deed. The non-warranty deed doesn’t hold any promises over the title of owner and if the item is in really owned by the grantor. It also means that the use of the quitclaim when transferring property rights/ interests for a jointly owned property will make the grantor a co-owner to the property. The reason for this is that this document will only transfer the rights that the grantor has over the property.

  • The Uses of the Quitclaim form

    • To add the name of a spouse to a property’s title

    • To facilitate the legal transfer of property to a sibling, child or any other member of the family

    • To transfer property interests to a business entity or partner

    • To bequeath property to someone in your last will after your passing.

    • For removal of a spouse’s name from a property title following a divorce

    • Transfer of property to a trust.

    • You could also use this document to transfer property to a subsidiary or even a parent company.

Requirements for the legality of a quitclaim deed in Arkansas

  • To get started in the transfer of interests to your family member, child, trust, or spouse, first, download a free Arkansas quitclaim deed online. You will come across numerous templates online, but all you need is the best printable PDF version of the free deed. Once you have your quitclaim form, you need to ensure that it contains all the information needed for its validity. A quitclaim deed in Arkansas must have the following:

    • The document must be in writing, and its title or heading should describe the intent or the purpose of the deed

    • It must have the grantor’s name, address, marital status, and their signature.

    • According to the statutes, the 2012 18-12-403 statutory provision notes that it is not necessary for the marital status of the grantor to be indicated. However, the statutes also indicate that no instrument used to convey interests or rights in marital real estate will be deemed valid, unless their spouse signs off on the deed or if they acknowledge it. However, if the property in question is non-marital property, then the grantor’s signature is the only one that is required. Only one catch here: the signing of the quitclaim requires the signature of the grantor’s spouse if the spouse is a co-owner named in the original deed.

    • Terms like sell, bargain or grant will not be used in the quitclaim form, because the document does not offer a warranty of title.

    • The deed should have the grantee’s name, as well as their mailing address and their vesting interest (how they want to hold the title).

    • A detailed description of the property being transferred.

    • The quitclaim should be executed with at least 2 independent witnesses. One of these witnesses is the notary public.

    • The quitclaim must be recorded in a specific format. The standard quitclaim form should be in a letter-sized piece of paper of which a 2” margin should be allowed at the top right for the first page, around the subsequent pages, and a 2” margin at the bottom of the last page. The recording is important because this document must get into the public record for the preservation of the chain of title. The recording of the quitclaim must take place soon after its execution.

Limitations of the Quitclaim

Although this document is the perfect tool for facilitating the fast transfer of property from a grantor to a grantee, it comes without any warranties on title meaning that if the title comes with recording errors, liens or debt, you (the grantee) bears the brunt of these issues. This document does not offer any protection to the grantee.

No effect on mortgage: For the longest time, the quitclaim form has been used to transfer ownership rights to the mortgaged property. However, its use does not mean that the grantor is no longer liable for the mortgage debt after the transfer. Often, the details (names) of the property owners remain intact, and the liable party has to pay the debt even when they no longer own the property.

The other limitations are that the quitclaim deed does not supersede the last Will, it might be affected by the statute of limitations, and the community laws on the property might deed the document irrelevant.

Despite these limitations, you could also use this document to eliminate defects from your title deed. These defects are called clouds often cropping up when a title search is performed.

If you think that the quitclaim form is the right document for you to use to transfer rights on that rental property, you might want to sign this document other than or besides the rental lease agreement. To get started with the quitclaim in Little Rock, Fayetteville, Fort Smith, Jonesboro, Hot Springs, Bentonville, Conway or any other city in Arkansas, download our free quitclaim deed form online today.