Arkansas Sample Letter for Quitclaim Deed for Foreclosed Property Dear [Recipient's Name], I, [Your Name], am I writing this letter to issue a Quitclaim Deed for the foreclosed property located at [Property Address], in the state of Arkansas. This letter is to officially transfer my ownership rights, interest, and title to the property to the grantee. Please find the details below regarding the property and the terms of the quitclaim transfer: Property Details: — Property Address: [Property Address— - Legal Description: [Legal description or lot numbers, if available] Terms of Quitclaim Transfer: 1. Granter Information: — Full Legal Name: [Your Full Legal Name] — Current Mailing Address: [Your Mailing Address] — Contact Number: [Your Contact Number— - Email Address: [Your Email Address] 2. Grantee Information: — Full Legal Name: [Grantee's Full Legal Name] — Current Mailing Address: [Grantee's Mailing Address] — Contact Number: [Grantee's Contact Number] — Email Address: [Grantee's Email Address] 3. Quitclaim Deed Effective Date: [Specify the effective date from which the transfer will take place] 4. Property Description: [Provide detailed description of the property, including its boundaries, landmarks, and any significant features] 5. Consideration: [Specify if any monetary compensation is involved or if the transfer is being made without any payment] 6. Granter's Warranties: [State that the granter is transferring the property without any warranties or guarantees, and that the granter will not be liable for any future claims, liens, or encumbrances] 7. Governing Law: [Specify that the laws of the state of Arkansas will govern the quitclaim deed and any disputes related to the transfer] I hereby declare that I am the rightful owner of the foreclosed property mentioned above, and I have the legal authority to transfer the property via quitclaim deed. This transfer is being made willingly without any undue influence or coercion. Enclosed with this letter, please find the duly signed and notarized Quitclaim Deed document, along with any other required documents, such as property tax records or previous deeds. Kindly review the enclosed documents thoroughly, sign the Quitclaim Deed in acceptance of the transfer, and have it notarized by a certified notary public. Once you have completed these steps, please return a signed copy of the Quitclaim Deed to my mailing address mentioned above or via email at [Your Email Address]. I kindly request that you acknowledge the receipt of the transfer by providing me with a written acknowledgement letter. In case of any questions or concerns regarding the transfer process, please do not hesitate to contact me at [Your Contact Number] or via email. Thank you for your prompt attention to this matter. Sincerely, [Your Name] [Your Full Address] [Your Contact Number] [Your Email Address] [Date] Keywords: Arkansas, sample, letter, quitclaim deed, foreclosed property, transfer, ownership rights, interest, title, granter, grantee, effective date, property description, consideration, warranties, governing law, notary public
Arkansas Sample Letter for Quitclaim Deed for Foreclosed Property
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FAQ
This deed must be signed, notarized, and recorded in the county where the property is located. Some counties have more than one recording office, so you need to be sure this deed is being recorded in the correct recording office. Must list the name and address of the person who prepared this deed.
It's usually a very straightforward transaction, but it's possible for a quitclaim deed to be challenged. If a quitclaim deed is challenged in court, the issue becomes whether the property was legally transferred and if the grantor had the legal right to transfer the property.
Signing ? A quitclaim deed has the requirement of the Grantor(s) signing in front of a notary public and 2 disinterested witnesses. Taxes ? ing to the Dept. of Finance and Administration the tax rate on any real estate transfer is $3.30 per $1,000.
No guarantees to the new owner: Unlike a warranty deed, a quitclaim deed does not guarantee that a property is free from title defects such as tax liens or title claims from third parties. For this reason, it is a poor legal instrument to use when selling a piece of property for cash considerations.
Deed signed by mistake (grantor did not know what was signed) Deed executed under falsified power of attorney. Deed executed under expired power of attorney (death, disability, or insanity of principal) Deed apparently valid, but actually delivered after death of grantor or grantee, or without consent of grantor.
Statute: Arkansas Code § 18-12-209. Signing Requirements: Arkansas Code § 18-12-104: Arkansas quitclaim deeds require the grantor to sign in front of a notary public and two (2) disinterested witnesses with no claim in the transaction.
Due to this, quitclaim deeds typically are not used in situations where the property involved has an outstanding mortgage. After all, it would be difficult for many grantors to pay off a mortgage without proceeds from the sale of the property.
QUITCLAIM DEED ? The Quick Easy Solution All a Quitclaim Deed does is transfer the exact same rights the owner has at that specific time. If there are outstanding claims against the property, the buyer will be subject to all of the claims.
