Massachusetts Quitclaim Assignment of Assets
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How to fill out Quitclaim Assignment Of Assets?
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FAQ
In Massachusetts, a quitclaim deed is akin to a special warranty deed elsewhere. There is a $25 filing fee for new deeds in Massachusetts as well as a property transfer tax which is typically $2.28 per $500 of taxable value.
Essentially a quitclaim deed provides the same protections as a warranty deed, except it limits how far back in time the grantor is liable for any problems resulting from the title.
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.
If you wish to remove someone from a deed, you will need their consent. This can be done by recording a new deed, which will require their signature. If the person in question is deceased, you will need their death certificate and a notarized affidavit along with the new deed.
The quitclaim deed typically includes the purchase price, a description of the property, and how the buyer takes title.
In the case of registered land, a certified copy of the death certificate and an affidavit of no divorce should be filed in the Land Court if the property is held as tenants by the entirety. The filing fee to record each document is $106.00 for Recorded (Registry) land or $105.00 for ( Registered) Land Court land.
How do I add or remove a name on my present deed? To change the ownership on a property you will have to prepare a new deed which conveys the property to the intended owners and record that new deed at the Registry of Deeds.
Recording Requirements: Massachusetts General Law Chapter 183 § 4: Quitclaim deeds must be filed with the Registry of Deeds Office in the county where the property is located. Each Registry of Deeds Office charges a filing fee, which must be filed along with the deed. Transfer Tax: Yes.
