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How to Create a Quit Claim Deed - YouTube
Channel: REtipster
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hey there this is stuff from the art
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tips are blog and in this video I just
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want to give you a really quick overview
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of what a quitclaim deed
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is when it makes sense to use it and how
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you can put one together if that's
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something you want to do so a quick
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claim deed is essentially a document
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that is used to transfer the ownership
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of real estate from one person or entity
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to another person or entity and most of
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the time when people are buying houses
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and rental properties and other
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investments the most common type of deed
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that people use is called a warranty
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deed and that's a deed where the seller
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is essentially promising that they have
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totally free and clear title to the
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property and they are conveying it to
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that new buyer and there's no title
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defects on records so nobody else has
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any ownership and it liens on the
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property or anything that would encroach
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they're totally unencumbered ownership
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of that particular property in the vast
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majority of cases when people are using
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warranty deeds there's also a title
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insurance policy involved so essentially
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there's a third party who has reviewed
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the entire title history and they're
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willing to back up the fact that the
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title is indeed free and clear and
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there's no encroachments or issues on
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that and that's why a lot of times
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sellers are comfortable making that
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promise because there's a title company
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that's going to back them up if any
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mistakes were made with a quick claim
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deed the seller is not making any
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promises or guarantees of any kind
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regarding the title they're essentially
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just saying everything that I own of
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this property if anything I'm now
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transferring to you mr. buyer so
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essentially if you as the seller have no
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idea if the title is clear or not this
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is the kind of deed that you would most
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likely want to use because you don't
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have to make any promises as to whether
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or not there are any issues that have
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come up in the past a lot of times
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people use quitclaim deeds when they're
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transferring properties between family
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members or in like divorce situations
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when one person is going to relinquish
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their ownership to the other person
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that's usually the kind of situation
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when quitclaim deeds get involved or in
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cases where the seller literally has no
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idea what's going on in the title
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history and they're not getting a title
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policy they're not making any guarantees
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and usually as a result the buyer is
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paying a very very low price and or
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they've done their own title research to
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verify that that title is free and clear
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so using quick clean beads a lot of
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times title companies really don't like
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that because it basically opens up this
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can of worms in a sense showing that hey
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somebody sold this property without
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making any promises so it is actually
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possible for that to cause issues in the
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future and in the title even if it
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didn't actually create a cloud on the
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title a lot of times title companies and
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underwriters will look at that as an
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issue simply because there was no
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promise made in that transfer so that's
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just something to keep in mind but
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really a quick claim deed is a very very
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simple document and it's just saying
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that you know whatever person a Owen's
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of the property they're now transferring
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to person B just to give you an idea for
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how loose a quick clean deed actually is
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I can fill out a quick claim bead for a
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property that I don't own and convey it
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to somebody else because I'm not making
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any promises I'm just saying that
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everything I own of that property if
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anything even if it's nothing I am
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transferring to this other person so
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hopefully that gives an idea of what a
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quitclaim deed really means and what
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kind of situations it may or may not be
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appropriate in and if you're looking for
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a state-specific quick claim deed
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template that you can use to fill out
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for yourself there's actually all kinds
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of websites out there where you can pay
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to download templates and just fill in
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the blanks yourself and do it that way
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there's another website that I've been
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using lately called a Rocket Lawyer and
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they have a very very nice easy-to-use
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system where you literally just fill out
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a questionnaire and fill in the blanks
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and it generates the document for you so
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if that's something you want to use I
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just want to give you a really quick
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tour of how that works and just how easy
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it is you definitely don't have to use
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it and again I'm not saying if in a way
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you should be using a quick clean beat
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at all that's something you should
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probably talk to an attorney about if
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you have any questions about the
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appropriateness of this particular type
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of deed
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but if you know this is what you want to
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use and you're just looking for the
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easiest way to fill one out I just want
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to show you how Rocket Lawyer works and
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you can decide for yourself if this is
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the route you want to go so follow along
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with me and I will create a quick claim
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deed for you in just the next few
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minutes and you can see what I'm talking
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about it's it's a really nice
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easy-to-use tool so let's go check it
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out okay so I'm actually going to
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include a link to this exact page
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beneath this video so if you want to
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follow along with me and fill up a quick
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claim deed for yourself with your own
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property specific information you can
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feel free to do that once you click on
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that link it will take you to this exact
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page it should look something like this
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and all you have to do is start off by
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picking the state in which your property
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is located so in this example I'm just
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going to click California and then we'll
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click make document and the first
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question it asks us is what is the
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location of the property being granted
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so if we've gotten address we would just
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go ahead and put that address in here so
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I'll just kind of make up a fictitious
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one here and click continue and who is
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preparing this quick claim deed since
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I'm the one preparing it I'm just going
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to go ahead and put my name in here once
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I got the information we'll go ahead and
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click continue then is this property
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located in an unincorporated area
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basically what this means is if your
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property is located within the
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boundaries of a city or a township or a
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parish or anything that has like an
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organized structure government to it
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then your answer would be no but if it
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happens to be a property that's like way
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out in the middle of nowhere and there's
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no municipal body that's overseeing that
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in that case you would click yes and
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that's going to be fairly rare depending
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on where your property is so in this
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case I'm just going to go ahead and
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leave it as known click continue and
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then who is granting the property in
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this situation I'm going to say that I
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personally am selling this property to
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somebody else so I will just leave it as
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an individual person if you want it to
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include a business or a trust or any of
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these other options you could just click
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those as well and based on which one you
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pick it will ask you more scenario
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specific questions throughout the rest
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of this sort of changes based on how you
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answer these questions that continue
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again then what does the grantor his
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name
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I'll just put my name here and then is
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Seth Williams married I will say yes I
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am and I'm also keep in mind as you're
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going through this if you ever have any
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questions or get stuck like say you just
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don't understand how to fill it out it's
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really really easy to just go ahead and
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ask a question right here in Rocket
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Lawyer well actually shoot that to a
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lawyer and they will respond to you and
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help answer your questions that's really
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a nice thing you're not necessarily on
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your own when you're filling this out
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you get stuck you can get help but also
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if for instance you don't have all the
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information yet it's still possible to
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create this document and just simply
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skip certain items so let's just say for
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example we're going to skip this one and
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what it's going to do is in the end
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result when it creates this document
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it's just going to have blanks there so
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we can sort of fill this in by hand or
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edit the final Word document when we do
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get that information so just keep that
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in mind you don't necessarily have to be
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equipped with a hundred percent of the
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information in order to complete this
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process so let's just skip this one and
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move on and then where will Seth
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Williams sign the quick claim deed I'm
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going to say I'm going to sign this in
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Michigan in Kent County and the reason
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this isn't asking that is so that it
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helps us fill out the notary block when
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the deed gets notarized click continue
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and Grand Tour is based on the dowry
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laws which can vary by state some states
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require that say if I owned a property
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and it was just in my name but I happen
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to be married my wife basically
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automatically has ownership in that
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property just by the fact that she's
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married to me so she would have to sign
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this as well in the transfer process
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even though it was never really titled
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in her name so part of this she'll have
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to understand what the laws are in your
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state based on whether or not you need
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to do that in this case just to keep it
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simple I'm going to just leave it as me
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but that's just something to be aware of
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if you are in that kind of situation you
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may be required to get the spouse's
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signature as well if the state laws
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require that so just keep that in mind
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and then who is being granted the
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property we're just going to say we're
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renting this to an individual and that
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grantees name
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is we're going to say John Smith then is
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John Smith single or married we'll say
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that he's single and was the physical
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street address of the grantee just make
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something up here and continue and then
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when will the transfer take effect I'll
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just put a January 1 2017 that'll be our
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closing date now what does the tax or
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Assessors parcel number this is
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something that you can either find on
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the previous deed of record or you can
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usually find it on the county's website
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or if you subscribe to any kind of real
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estate data service like agent pro 24/7
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or real quests or anything like that you
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can usually find those numbers there so
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I'm just going to make up a number here
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and then we'll click click continue and
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what's the legal description just like
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the previous item you can usually find
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this on the county website or on the
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previous deed of record if you have any
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questions on that so I'll just kind of
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make something up here so much that's
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done we'll click continue again and then
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is money being exchanged for the
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transfer of the property now a lot of
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times when people use quitclaim deeds
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say if they're transferring it between
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family members in those situations it's
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not uncommon for no money to be changing
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hands or a very very small amount so you
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could put like one dollar like it says
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here in this example or if it's a lot
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more than that then obviously you would
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just put whatever that amount is in this
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case we'll say yes and we'll say $100
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and then what does the name and address
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of the person receiving future tax
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statements for the property so in this
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case we're just going to put that same
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buyers address because he's going to be
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the person paying those tax bills going
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forward go ahead and click continue here
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and then check the box next to any
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statement applying to this deed so this
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is an area where Rocket Lawyer gets into
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some of the state specific issues that
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can come up in California and this is
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something that you wouldn't necessarily
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know if you were just working with some
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generic templates so that's one of the
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areas where Rocket Lawyer is kind of
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nice to work with so if any of these
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would apply just go ahead and read
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through them and check anything that's
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applicable if not you just leave it as
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none of the above and click continue
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and then what is the value of the
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property being transferred we're going
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to get just say $100 again if you had
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gotten an appraisal on the property and
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you got a specific value you could put
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that here or if you had a specific
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assessed value in mind from the county
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you could put that here as well if you
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don't have any of that information then
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you could literally just put the amount
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that's being paid and that would work
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too and then is the grantee assuming any
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debts attached to the property in this
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case we're going to go ahead and say no
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click continue does the grantor wish to
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reserve any interest in the properties
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oil gas or other mineral rights I'm
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going to say no in this case but if for
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some reason you wanted to hold those
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back you could do that here does the
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grantor wish to reserve a life estate
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interest in the property being
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transferred I'm going to say no in this
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case keep in mind all these questions as
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you've probably seen have a pretty good
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explanation just explaining what it
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means and how you may or may not want to
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answer some of these questions and again
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keep in mind if you get stuck on
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anything you can always just ask a
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question over here and then who should
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the original deed of the property be
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returned to in this case I would usually
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put the name of the buyer because
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they're going to be the owner going
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forward and this is something that
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they're probably don't want for their
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records you'd go ahead and put that in
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there and then it will go ahead and
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generate this document for us as you can
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see all I got to do just scroll through
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here and it shows you the exact document
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and you can download this in the form of
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PDF or as a Word document that's usually
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what I would do but that's just me
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because I can edit it in the future and
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do other things if I want to change it
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around and then when we open this up we
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can go ahead and just get a good view of
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it and we can go through here and edit
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things if we want we can highlight and
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delete things can change things around
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if we need to and something you'll
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notice here right here we've got a bunch
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of blanks this was that question where I
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just chose to skip it rather than
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filling out the information so that's
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what happens when you don't answer all
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the questions that we'll just leave
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those blanks and then you can either
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handwrite them in or go ahead and type
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that information in once you have the
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word back
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and then this is the notary block I mean
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it's really just very simple and
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straightforward and easy to do and
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that's really what I like about Rocket
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Lawyer is that it just makes the process
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very easy whereas when you're using a
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blank template it's kind of up to you to
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make sure you're filling out all the
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details and not missing anything which I
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found is actually surprisingly easy to
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do especially when you're not familiar
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with deeds and you don't do this on a
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regular basis or even when you do this
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kind of thing requires a lot of
[825]
attention to detail to make sure you get
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all the information right and don't miss
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anything so if you're interested in
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Rocket Lawyer there are a couple
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different pricing plans and it's set up
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as a subscription you can either do it
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monthly this is the one that I've got
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right now the 39.95 per month or if you
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pay annually you can save 20% on that if
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this is something that you know you're
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going to be using again and again keep
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in mind if you just need like one
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document one time and that's it you're
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never going to need this again it's
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totally feasible to just sign up for one
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month and then unsubscribe and then if
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you ever need to come back it's very
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easy to do that that cost for one month
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is pretty comparable to the cost you're
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going to find for a lot of the blank
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templates out there that are harder to
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fill out anyway so it's not like it's a
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worse deal necessarily than some of the
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less user-friendly options out there and
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again in terms of the appropriateness of
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using a quick clean deed I can't answer
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that question for you because I don't
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know anything about your situation
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that's something where if you're not
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sure about it you would have to talk to
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an attorney and verify that you're
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working with all the right information
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and all the right language because there
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are some cases where there are some even
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more specific things that should be
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included in a deed and Rocket Lawyer may
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not necessarily be able to do that so
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I'm not saying that you should not get
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legal help because you should if you
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need that but if you're just looking for
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a quick easy boilerplate no-frills kind
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of approach to creating this kind of
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document for the least amount of money I
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think a racket lawyer is a great way to
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do that and I've been using it in many
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many cases and I've found it to be a
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very viable solution in not all but in
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many situations that I've worked with
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so there's Rocket Lawyer for you that's
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how you can do a quick clean bead with
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them hopefully you find that helpful on
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some level I'm going to have an
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affiliate link beneath this video and if
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you sign up through that link I will get
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a small commission on that so I just
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want to totally disclose that and again
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Rocket Lawyer is not the perfect fit for
[943]
everybody but I think it's a lot of
[945]
cases it can be a great option for
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people who just need a quick simple easy
[950]
user friendly way to get this kind of
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thing done so thanks for watching and
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hopefully I'll see you again soon
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