This form is used when Assignor grants, sells, assigns, and quit claims to Assignee, all of Assignor's rights, title, and interests, if any, in and to the leasehold estate in the Lease and Lands, and in any and all equipment, fixtures, or appurtenances located on the Lands.
Alabama Quitclaim Assignment
Category:
State:
Multi-State
Control #:
US-OG-296
Format:
Word;
Rich Text
Instant download
Description
How to fill out Quitclaim Assignment?
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FAQ
50 per $500 or $1.00 per $1000 on value of property conveyed - charged in increments of $500. The amount of value conveyed is always rounded to the nearest $500. A $1.00 ?no-tax? fee is charged on deeds that are tax exempt.
In other words, if your name is on the deed, you are tenants-by-the-entireties, and if one of you dies, the other owns the property entirely. If you are not on the mortgage for whatever reason, you are not liable for paying the mortgage loan. That said, you get your spouse's interest in the property if they die.
Once a deed is recorded it cannot be changed. We recommend you consult a real estate attorney or title company to prepare a new deed. If a married couple held the property jointly as tenants by entireties and one spouse dies, it is not necessary to remove that spouse's name from the deed.
In Alabama, quitclaim deeds are often used to straighten out title issues. For example, if property is transferred without the signature of one owner, that owner may later sign a quitclaim deed just to clarify that he or she claims no interest in the property.
Laws & Requirements Instead, ?quitclaim and convey,? ?release and quitclaim,? or similar language should be used. The deed must also include a statement of the grantor's marital status. Signing Requirements: Alabama Code Section 35-4-20: The grantor's signature must be notarized in the presence of two witnesses.
The deed should be signed by the current owner or owners, with each signature notarized using Alabama's statutorily approved acknowledgments. There is no need for the new owners (grantees) to sign the deed.
Recording ? A quit claim deed should be filed in the office of the County Probate Judge along with any required fees. Signing Requirements ? If a notary acknowledgment is not included in the conveyance of the property, a witness must attest to the conveyance.
