Quit Claim Deeds in Missouri
Guide to Quit Claim Deeds in Missouri
If you are transferring most kinds of goods, you don't need a deed at all—just a receipt. But if you are selling or giving away a piece of real estate, the deal isn't legal without a written, recorded deed. Deeds exist specifically as a legal mechanism for transferring pieces of real estate (sometimes called real property), and if you are giving a piece of property away to a close relative, you may have heard of a type of deed called a quit claim deed. This guide will help you to understand what a quit claim deed is and why you might want to use one to transfer property. You will learn how to have your quit claim deed Missouri notarized and recorded so it exists as a legal document.
What Is a Quit Claim Deed?
Most types of deeds make some sort of warranty or guarantee about the property being sold. Typically, these warranties and guarantees include, at a minimum, that the seller is actually the owner of the property and that the title to the property is clear. If the seller misrepresents ownership of the property with most types of deeds, or misrepresents the status of the title, he or she is legally liable.
A quit claim deed Missouri is different. Quit claim deeds only state that the seller is “quitting,” or giving up, any stake they may or may not have had in the property. Read that carefully: this means that with a quit claim deed Missouri, a seller can actually hand you a deed for a property they don't own. If you are the buyer (also called the grantee), you are only being deeded whatever interest the seller (grantor) actually has, whether or not that amounts to anything. You will have no legal protection using a quit claim deed Missouri if the seller did not actually own the property you purchased.
Who Uses Quit Claim Deeds?
Because of the lack of legal protections for the grantee when using a quit claim deed Missouri, you may wonder if there is any reason to use this kind of deed. The answer is: absolutely, but only under very specific and limited circumstances.
One common way to use a quit claim deed Missouri is to have a house revert to just one spouse after a divorce. One spouse quits his or her claim and allows the other spouse to have the entire home. Another circumstance where quit claim deeds are often used is when property is being transferred from parent to child. This allows the parent and child to write a deed quickly and helps the parent avoid legal liability not only while the child owns the property, but when future owners purchase it as well.
Do I Need to Get a Lawyer?
For most people who need to file a quit claim deed Missouri, no lawyer will be necessary. A notary will be needed when you sign the quit claim deed form, so that your signatures and identities can be verified.
A lawyer may be able to tell you whether a quit claim deed Missouri is a good idea for your specific transfer of property. If you have any questions, you can ask a lawyer who is familiar with deeds in your area.
