When forming a corporation, you may have many options available.
Click To Learn More
Quitclaim Deeds Lawyers in Orlando, Florida
There are two types of legal instruments that can transfer the title from the name of one party to another. There are warranty deeds and quitclaim deeds. Each serves its own purpose.
- Warranty Deeds are used when money changes hands during a real estate transaction. A warranty deed may include warranties pertaining title to the property.
- Quitclaim Deeds are used when property is transferred with no warranties pertaining to the title to the property.
Quitclaim deeds are usually used when property is transferred from one family member to another. If you get married and want your spouse’s name to appear on the title of your home, or if you and a former spouse are getting divorced and you need to remove one partner’s name from the deed, a quitclaim deed may be used. Quitclaim deeds can also be used when parents give property or real estate to their children. When establishing a trust, quitclaim deeds may also be used to put the real estate in the trust. If you are considering giving property to a family member or child, if you are getting married, or divorced, you may need the assistance of a quitclaim deed lawyer in Orlando, Florida like Legal Counsel, PA. Our firm can help you with the transfer of property in Orlando, Florida. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.
When Do I Need a Quitclaim Deed in Orlando, Florida?
Quitclaim deeds are only appropriate in specific circumstances. If you are purchasing property, you won’t be using a quitclaim deed. However, if you are gifting property to a family member, establishing a trust, are getting married, or are getting divorced, a quitclaim deed may be required. What are some situations where quitclaim deeds are used to transfer property?
- When you are getting married and want to put your partner’s name on your title.
- When you are getting divorced and either you want to give your interest in real estate to your ex or when your ex wants to give their interest in the real estate to you.
- You are creating a trust and want to put the property in the trust.
- You want to give property to a child, parent, or sibling, or other family member, or you want to gift property to another person.
- You have changed your name or another person on the deed has changed their name.
These are just some instances where a quitclaim deed may be used. Legal Counsel, PA employs a quitclaim deed lawyer in Orlando, Florida who can assist you with your quitclaim deed. We can draft the deed, review the deed, and review the document to meet all legal requirements so that the title is properly transferred. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.
What Needs to Be Included in a Quitclaim Deed?
A quitclaim deed should include specific information about the property, such as the address and description of the property. Information about the person giving the property (the grantor) and the person receiving the property (the grantee) should also be included. The date of transfer, the location of the transfer, and other information about each party may need to be included.
Legal Counsel, PA employs a quitclaim deed lawyer in Orlando, Florida who can review the deed so that this information is included. Our firm can also offer counsel about whether taxes may be due upon transfer of the property. In some cases, if you are receiving property under a quitclaim deed, you may have to pay gift taxes. Other information about the use of the property may also be included in the deed. The quitclaim deed lawyer at Legal Counsel, PA in Orlando, Florida can draft this deed and help you with the process of transferring property to another person’s name or to a trust. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.
What are the Downsides of a Quitclaim Deed?
Quitclaim deeds have limitations. For example, they don’t offer title warranties, nor do they offer assurances that there are no liens on the property or taxes owed. Before you accept property under a quitclaim deed, it is important to consult with a quitclaim deed law firm, like Legal Counsel, PA in Orlando, Florida to understand what your rights and obligations might be regarding liens on the property and taxes. Our firm may be able to obtain a title search from a national title insurance underwriter to see if there are any issues with the property. Another thing to keep in mind with quitclaim deeds is that the deed doesn’t affect the mortgage on a property. If you are getting divorced and want to eliminate your liability for the mortgage, a quitclaim deed won’t be able to do this. You’ll either need to pay off the old mortgage, refinance under only one partner’s name, or one party might have to pay off the mortgage to release the other party from the obligation.
If there is an issue with a title, it is important to speak to the quitclaim deed lawyer at Legal Counsel, PA in Orlando, Florida to understand situations where a quitclaim deed can resolve the issue and where it cannot resolve an issue.
Finally, a quitclaim deed may not hold up in court if one party agrees to sign the deed when dividing property during a divorce. A court may find that the property was owned by both spouses and might be subject to equitable division laws. When dividing property during a divorce, it might be wise to consult with a lawyer, and only use a quitclaim deed when appropriate. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.
Let Legal Counsel, PA Help with Your Quitclaim Deed
Legal Counsel, PA employs a quitclaim deed lawyer in Orlando, Florida who can help you with the transfer of property to family members, spouses, or when establishing a trust. A quitclaim deed may not be the appropriate legal instrument in all cases. Legal Counsel, PA employs a quitclaim deed lawyer in Orlando, Florida who can review your situation and help you understand what kind of deed may be appropriate for your situation. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.