Jacksonville Quit Claim Deeds
A Jacksonville quit claim deed is a legal document that is used to transfer real estate property from one person, known as the grantor, to someone else, known as the grantee. Quit claim deeds are used when the grantor has a deed that is considered legal and valid and the title does not contain any defects. If the grantor does not have a legal and valid title to the property, a quit claim deed may be considered invalid. Quit claim deeds are generally used to transfer property between family members, to place the property into a trust, or to transfer it to the grantor’s own LLC. Our Jacksonville Quit Claim Deed lawyers can help.
What is the Difference Between a Warranty Deed and a Jacksonville Quit Claim Deed?
There are many ways to transfer property to another person and the two most often considered are through a warranty deed or a quit claim deed. Many people do not understand the difference between these types of claims, but they are important. A warranty deed guarantees that the title on the property is legitimate and valid, while a quit claim deed does not offer such a guarantee. Without a guarantee, the grantee is not offered the same protections, which is why quit claim deeds are most often used when property is being transferred to the same party, or to a relative.
How to File a Jacksonville Quit Claim Deed
To execute and record a Jacksonville quit claim deed, you must first obtain a form. Attorneys usually have these forms and will assist you with filling it out and filing it so no mistakes are made that could pose an issue in the future. If the property is the residence of the grantor, you will need a homestead exemption as well as the names and current addresses of both parties involved. The deed can then be entered into public record at the comptroller’s office in your county and you will retain the original.
Can You Use a Quit Claim Deed if the Property has a Mortgage?
It is a common misconception that you cannot execute a quit claim deed if you have an existing mortgage on the property. While mortgaged property can still use a quit claim deed, it is important to understand that the deed will not transfer the loan. This means the grantor will still be responsible for paying their home loan, even after the rights to the property have been transferred.
If the lender learns that the property has been transferred and the mortgage was not paid in full at the time, they may call the entire loan due at once. Still, if the grantor continues to pay the mortgage and an escrow account does not exist, the lender will likely not require you to repay the entire loan immediately.
Call Us for Your Quit Claim Deed in Jacksonville Today
If you need to transfer property, our attorneys at My Florida Deed can advise on whether a Jacksonville quit claim deed is appropriate, and will help you through the process. Call us today at 407-205-2906 or contact us online to obtain the forms and legal advice you need.