This is a Quitclaim Deed where the Grantors are husband and wife and the Grantees are husband and wife. Grantors convey and quitclaim the described property to Grantees less and except all oil, gas and minerals, on and under the property owned by Grantors, if any, which are reserved by Grantors. This deed complies with all state statutory laws.
Alabama Quitclaim Deed from Husband and Wife to Husband and Wife
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State:
Alabama
Control #:
AL-017-77
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FAQ
In California, all property bought during the marriage with income that was earned during the marriage is deemed "community property." The law implies that both spouses own this property equally, regardless of which name is on the title deed.
California married couples generally have three options to take title to their community (vs separate) property real estate: community property, joint tenancy or Community Property with Right of Survivorship. The latter coming into play in California July of 2001.
Quit Claim Deeds in Alabama So not only is the grantor not guaranteeing that there are no liens or encumbrances on the property, they aren't even guaranteeing they own the property. Our local property deed attorneys are currently charging $250 to prepare your quit claim deed for you to record yourself.
But you might be wondering if an owner can transfer a deed to another person without a real estate lawyer. The answer is yes. Parties to a transaction are always free to prepare their own deeds.A quitclaim deed, for example, is far simpler than a warranty deed.
It is also crucial that a spouse know about the loan, even if he or she is not on the mortgage. In general, the spouse must sign a deed of trust, the Truth in Lending and Right to Cancel documents. By signing these documents, they are simply acknowledging the existence of the mortgage.
Recording (§ 35-4-50) A quit claim deed should be filed in the office of the County Probate Judge along with any required fees. Signing (A§ 35-4-20) All quit claim deeds are to be signed with a notary public present or with two (2) witnesses.
It's often easier to qualify for a joint mortgage, because both spouses can contribute income and assets to the application. However, if one spouse can qualify for a mortgage based on his own income and credit, the mortgage does not need to be in both spouses' names unless you live in a community property state.
In order to transfer ownership of the marital home pursuant to a divorce, one spouse is going to need to sign a quitclaim deed, interspousal transfer deed, or a grant deed, in order to convey the title to the property.
A person who signs a quitclaim deed to transfer property they do not own results in no title at all being transferred since there is no actual ownership interest. The quitclaim deed only transfers the type of title you own.
Two of the most common ways to transfer property in a divorce are through an interspousal transfer deed or quitclaim deed. When spouses own property together, but then one spouse executes an interspousal transfer or a quitclaim deed, this is known as transmutation.