Guide to a Complete Quitclaim Deed in Missouri
To successfully and legally give up your rights in real property to your spouse, children or any other members of your family, you need a quitclaim deed to record the transaction.
A quitclaim deed, also called a quitclaim, a non-warranty deed, or a quitclaim deed form refers to a legal instrument that records the conveyance of real property from one person to another or from an entity to another. The party conveying the property is the grantor while the party that receives the real property is a grantor.
Thanks to its ease of use, the quitclaim is one of the most common forms of real estate deeds used. However, this does not mean that the quitclaim is a perfect document. The imperfection in a quitclaim comes from the fact that the document offers no warranties. When using the quitclaim as proof of transferred ownership interests, you do not receive any warranties on the past conditions of the property’s title, and in other cases, the grantor might not be the actual legal owner of the deed. Therefore, the rights or interests transferred using the deed only represent the rights owned by the grantor at the time of the transfer.
In short, a quitclaim has no warranties on the title and the title transferred to a grantor might be defective. Some of the issues that make a title defective include title errors in the public records, missing heirs, unprobated will, undisclosed encumbrances, unknown liens on the property, and boundary issues, among others.
Uses of the quitclaim
The quitclaim deed in Missouri is used in various circumstances such as:
You can use a quitclaim in a divorce. Asset division is one of the integral bits of the divorce process, and during that time, the divorcing couple has to decide on the fate of joint property or a homestead. During the joint ownership of the property, the property was under tenancy by entirety although there are other cases where the residential property is held under joint tenancy. If a spouse wishes to give up their rights in the property to the other spouse, the quitclaim deed will come in handy in facilitating the transfer. The quitclaim will transfer the jointly owned property from joint ownership into a sole ownership arrangement.
Note, however, that the use of the deed will not remove the debt obligations of the party quitting their interests in the property. The only way for you to remove your name from a mortgage debt involves applying for an assumption or entering a refinancing plan.
Removing clouds from the title: a cloud on a title refers to a defect or an issue that affects title insurance. The clouds come to light after a title search is run. The clouds which include liens or encumbrances come about when a title has a long ownership record/ chain of title. The clouds on title come about when the property changes hands too many times, which often means that the deed has the name of an individual who should not be named in the deed. In this case, the quitclaim will be used to quit the rights of the person who’s named in the deed but they should not. So, if you get divorced and your spouse is still named in the deed as an owner of the property, years in the future, you could use a quitclaim to remove their name from the deed.
Quitclaims also work in the reverse in that you could use the document to add your spouse into the deed. So, if you are newly married and you’d like to own property with your spouse, get a quitclaim jointly.
Transferring interests in property to a trust. This use of the quitclaim is referred as to quitclaim to a revocable trust – simply signing a quitclaim to transfer real property into a trust.
Transferring rights to real property to children, a sibling or any other close relative.
Finally, you could use the quitclaim to change your name on a title.
Legal Requirements for a valid quitclaim deed
Although the use of quitclaims is not specifically highlighted/ prescribed in the statutes, the use of the quitclaim is accepted in the state of Missouri, and it follows the provisions for the transfer of real property provided for in Chapter 442 of the statutes.
For you to create and execute the quitclaim, you first need to download a free quitclaim deed form online. This is a printable PDF template that will guide you and help you create a valid deed. The deed must meet the following requirements:
The legal names and mailing addresses of both the grantor and the grantee.
A full legal description of the property under conveyance
The name, signature, and the mailing address of the deed preparer.
The deed is also expected to meet the local and statutory standards for recording deeds.
The deed should also bear the details of how the property under conveyance will be held by the grantee/ vested interests. For residential property, the primary methods of owing property include tenancy in common, joint tenancy, or tenancy by entirety. Ownership of real estate by at least two unmarried individuals presumably creates a tenancy in common, while the state recognizes tenancy by entirety as how married couples share ownership of property.
For recording purposes, you have to present affidavits, documents, forms, and fees to the relevant registration office in the county that the property in question is located.
The state requires that the grantor and the grantee sign the deed in the presence of the notary public, who will acknowledge the deed.
Recording the deed is important because it preserves the chain of title/ ownership history while giving notice to the public about the change in ownership. Failure to record quitclaim limits who knows about the change in ownership, so, if the grantor conveys the property to a bona fide purchaser in future, and records the deed, the previous grantee loses their rights in the property.
Do you need a quitclaim in Columbia, Springfield, Kansas City, Joplin, Branson, or any other city in Missouri? Get started with our free quitclaim deed form today.