Free Oregon Quitclaim Deed Form

How to Prepare a Valid Quitclaim Deed in Oregon

A quitclaim deed is a type of the real estate deed. It is the most popular real estate deed, and its creation takes little time. So, if you are transferring property to someone else, this might be the real estate deed you want to use. But before we look at how you can use the quitclaim deed, let’s look at the basics of the deed.

What is a quitclaim deed?

This real estate deed is a legal instrument used to facilitate the conveyance of rights in property from one person to another. It is commonly used by family members gifting or transferring their rights in the property to their children or siblings. It is also called a non-warranty deed or simply a quitclaim. So, if you hear someone calling it a quick claim deed, know that they are mistaken. In the legal world of real estate, the party transferring their property rights is the grantor while the recipient of the rights is the grantee.

Note, however, that despite the quitclaim’s efficiency in transferring rights to property efficiently, the deed does not come with any warranties on the property title under conveyance; hence a non-warranty deed. Essentially, this means that a quitclaim doesn’t provide any warranties in title meaning that the title might be clear or not. A clear title is one without any recording errors, unknown liens, undisclosed encumbrances, boundary/ survey disputes, missing heirs, or undisclosed heirs, among others. On the same breath, you should know that the quitclaim doesn’t guarantee you that the grantor is the actual owner of the property rights. Therefore, the rights conveyed to the grantor is a representation of only the rights of the grantor at the time of signing or executing the quitclaim.

The general warranty deeds, on the other hand, come with the warranty of title; meaning that the deed under conveyance doesn’t have any title defects and that the grantor is the actual owner of the property.

If you want to offer a warranty of title, only for the time you owned the property, then the special warranty deed works.

However, if you’ve decided on the quitclaim, the grantee must know that the document does not give them any legal recourse against the grantor.

When is the ideal time to use a quit claim deed Oregon?

• A quitclaim deed in Oregon is recommended for use in specific contexts such as:

• • During a divorce where the court rules that the ownership of the family home or any other joint property should go to one spouse. When this happens, the other spouse has to quit their interests in the property. Note, however, that doing this doesn’t exempt the person quitting their interests in the property from paying mortgage debt or any other liens on the property.

  • During estate planning, a parent could use the quitclaim to transfer property to their children or any other close relative.

  • A quitclaim could also be used to effect the conveyance of property rights through gifting

  • The deed is also used to transfer right in property from one business entity (Corporation or LLC) to another

  • A quitclaim clears clouds/ defects on property titles. The clouds often come up when a title search is performed. Clearing clouds on a title is important, for example when someone named on the title shouldn’t be there or if a name is missing from the deed

  • A quitclaim transfers property titles to trusts

  • When adding the name of your spouse or removing it from a deed, you have to execute a quitclaim

  • If you change your name after acquiring title for real property, you can use the quitclaim to change your name on the title deed.

How to Prepare a quitclaim

The steps below will guide you when preparing your quitclaim. But first, you must download your free Oregon quitclaim deed form online. Our free deed form is a printable PDF that serves as your template for a valid quitclaim.

• The statutes require you to do the following things for a valid quitclaim:

• • Enter your (grantor) name into the deed, as well as your actual mailing address and your marital status.

  • Enter the true value of the consideration paid for the transfer of the property rights

  • Enter the details of the grantee – their full legal name, correct mailing address, their marital status, and their vesting. Vesting is the description of how the grantee wishes to hold the title to the property. Essentially, real property ownership is held in co-ownership or sole ownership. And for residential property, the state accepts tenancy by entirety and tenancy in common as the main forms of ownership. The statutes further provide that if residential property conveyance takes place and property is transferred to at least two unmarried individuals, the vesting created is a tenancy in common. On the other hand, conveyance between married couples creates a tenancy by entirety.

  • Note that joint tenancy for residential property was abolished, although it’s only applicable for conveyances to personal representatives or trustees.

  • For conveyance of realty, the quitclaim must bear the full legal description of the property.

  • You also need to provide any restriction placed on the property

  • Once you enter all the information above, you have to sign the deed in the presence of the notary public who will acknowledge the signature and the deed. If you are married, your spouse must be present to sign the deed.

  • When done, you should take the document to the county records office (where the property is located) to record the deed. You might have to pay a transfer tax. Note that Washington County charges a local transfer tax. For exempted property, make a proper application,

  • The clerk’s office in the appropriate county will guide you regarding the fees charged and accompanying documents if any.

Are you ready to quit your rights and prepare a quitclaim for your residential rental property in Eugene, Portland, Salem, Bend, Medford, Corvallis, Beaverton, or any other city in Oregon? Get our free quitclaim deed form Oregon here to get started.