Free Nebraska Quitclaim Deed Form

Using the Quitclaim Deed in Nebraska

The quitclaim deed in Nebraska, also called a quitclaim, non-warranty deed, and mistakenly a quick claim deed refers to a legally binding document that conveys property rights/ interests from one person to another it. The transferor of the property rights is the grantor, and the recipient is the grantee. This document will, effortlessly, facilitate the transfer of rights in a property but it will not offer any warranties on the transferred rights.

So, unlike the warranty deeds used to record property sales, the quitclaim does not provide any guarantees on the state of the title, or whether or not the title is clear of any encumbrances. The quitclaim will also transfer, only the rights that are held by the grantor at the time of the transfer.

Since the deed lacks warranties, it is commonly used by and between close family members and entities.

Warranty Deeds

As mentioned above, the warranty deed promises the person buying the real property that the title to the property they are purchasing is clear and that they have full legal ownership of the property, hence the right to sell the property. The warranty deed promises no liens on the title. Common liens which present themselves in the non-warranty deeds include tax liens, mortgage liens or even creditor’s liens. To verify these details, you will have to conduct a title search.

Implications and Limitations of the quitclaim

Despite its efficiency, a quitclaim does not offer any legal recourse to the grantee against the grantor if it later turns out that the deed had issues.

Also, if you decide to give up your rights to jointly owned mortgaged property during your divorce proceedings, you will still have to pay the debt obligation under your name. So, you shouldn’t think of using the quitclaim as a way of avoiding your obligations.

At the same time, the quitclaim does not take precedence over the last will. So, if someone else is named an heir to the property in a will, the quitclaim will be invalidated.

Community property laws also take precedence to quitclaims.

When to use the last will

• Despite its limitations, the use of the quitclaim is common and encouraged between people and entities that trust each other. Some of the uses of the deed include:

• • Transferring interests in property to your children, siblings or other close relatives

  • Adding a spouse into your property’s title deed

  • Removing a spouse’s details from the title deed

  • Removal of title clouds/ defects

  • Transferring real property to a trust/ Living trust

Transferring real property into a business entity like a corporation or an LLC.

Creating an Executable Quitclaim

To create an executable quitclaim deed in Nebraska, you need first to download a free Nebraska quitclaim deed form. Once you have the free deed form, it also serves as your template, populate all the necessary fields. The quitclaim form comes in a printable PDF version, and so, you don’t have to worry about compatibility issues.

Note, that the state of Nebraska accepts the use of quitclaims for the execution of property transfers. However, there aren’t any explicit requirements on the same.

• To be regarded as a legal instrument, it must have the following details:

• • The deed should have the full legal name and the actual mailing address of the grantor. The grantor’s marital status is also required.

  • The deed should also have the full legal names, the marital status, and the mailing address of the grantee. Also, the grantee’s vesting interests – how they wish to hold the title for the property should be stated in the deed. Vesting is a real property law term that means the ownership style for property in question. In general, the state recognizes three methods of holding property: tenancy in common and joint tenancy. For property whose ownership is to be shared between at least two parties, the presumed vesting is the tenancy in common, unless when a joint tenancy is stated expressly.

  • The property under conveyance should also be named and legally described in the deed. The legal description of the property includes the survey details and the square footage, among others.

  • It is also important that you recite any prior deed references to maintain or preserve a clear chain of title, and also to provide a detail of any restrictions that are associated with the property.

  • The deed has to meet all the standards set by the state and the local authorities.

  • The parties involved must sign the deed with the notary public present to acknowledge the conveyance.

  • If the conveyance involves property hold in part or wholly by a couple, the state requires that the two spouses sign the deed. Doing this releases marital rights, whether the property is jointly held or not.

  • Next, the deed must be recorded at the county recording office, the county where the property is located.

The state has also made it clear that all real property transfers be subject to a stamp tax. The tax charged is based on the value of the property at the time of the deed’s recording. For exempt property transfers, the reason for exemption, as per the requirements of statute 76-902 should be noted on the deed’s face; then you will have to fill out the certificate of exemption.

Now that we’ve cleared the air about the quitclaims, are you ready to prepare one for your residential property? Well, whether you are in Lincoln, Omaha, Grand Island, Bellevue, Kearney, or any other city in Nebraska, you can download our free quitclaim deed today to get started.