Quit Claim Deed in Virginia

Guide to Quit Claim Deed in Virginia

Real estate, unlike most kinds of property, requires substantial documentation to transfer between people. The paperwork that documents the transfer of a piece of property is called a deed, and a written deed must be recorded to make a property transfer lawful. One kind of deed that is commonly used to transfer property between close relatives is the quit claim deed in Virginia. A quit claim deed, however, should only be used in some circumstances, because it offers fewer legal protections for the buyer. This guide will explain what a quit claim deed is, and why you might consider a quit claim deed in Virginia to transfer your property.

What is a Quit Claim Deed?

Most deeds offer legal warranties and protections to the buyer. For instance, if you sign a deed when buying a home from another person or a bank, the seller certifies as part of the deed that he or she owns the property and that it has a clear title. However, a quit claim deed in Virginia offers no warranties whatsoever. This not only means that “what you see is what you get,” it also means that someone can offer to write you a quit claim deed about property that isn't even theirs.

All a quit claim deed says, in essence, is “I give up any rights I do have to this property to this person.” If those rights were non-existent, you may end up buying nothing at all, which is why a quit claim deed in Virginia is not usually used for transactions where the people involved are not close relatives.

When To Use a Quit Claim Deed in Virginia

Some circumstances do call for using quit claim deeds. Here are some circumstances in which a quit claim deed may be your best legal instrument for transferring property:

ñ A parent wants to give their home to their child, but does not want to be held liable for any problems with the property.

ñ Two neighbors settle a dispute about where the boundary between their property should be, and want to legally document the new border.

ñ One divorcing spouse wants to leave the title for a shared house in the other person's name exclusively.

ñ An investor wants to transfer property from himself as an individual to his own wholly-owned corporation.

If you are considering signing a quit claim deed in Virginia under circumstances significantly different from these, you may want to talk to a lawyer who specializes in property. You may be better protected by a different type of deed entirely.

Notarizing and Recording Your Deed Form

It is a requirement that your quit claim deed in Virginia be signed by both parties in the presence of a notary, who will notarize the document. You must also take it to the county recorder's office to be recorded among the other property deeds there. Keep a photocopy of your quit claim deed in your records in case further legal action stems from the transfer of the property.