Should both spouses be on the deed?

Should both spouses be on the deed?

When it comes to reasons why you shouldn’t add your new spouse to the Deed, the answer is simple \u2013 divorce and equitable distribution. If you choose not to put your spouse on the Deed and the two of you divorce, the entire value of the home is not subject to equitable distribution.

Do quit claim deeds have to be notarized?

A Quitclaim Deed must be notarized by a notary public or attorney in order to be valid. Consideration in a Quitclaim Deed is what the Grantee will pay to the Grantor for the interest in the property.

What does a quit claim deed accomplish?

Also called a non-warranty deed, a quitclaim deed conveys whatever interest the grantor currently has in the property if any. The grantor only “remises, releases, and quitclaims” his or her interest in the property to the grantee. There are no warranties or promises regarding the quality of the title.

Is a quitclaim deed a contract?

A contract for deed sale can present a convenient alternative to the traditional real estate conveyance. A quitclaim is a non-warranty deed. It conveys property with no warranty for the title. Through this document, if it becomes needed, the buyer will relinquish any claim on the property.

Is a quit claim deed the same as a deed?

A quitclaim deed is a type of deed that transfers the actual legal rights to a property, if any exist, that the grantor — the person who is transferring a stake in a property to another person — has without any representation, warranty or guarantee.

Is a warranty deed better than a quitclaim deed?

A warranty deed contains a guarantee that the grantor has legal title and rights to the real estate. A quitclaim deed offers little to no protection to the grantee. Warranty deeds ensure that the grantor has the right to sell the property, and guarantees that there are no liens or encumbrances against the land.