This form is a Quitclaim Deed where the Grantors are husband and wife and the Grantees are two individuals. Grantors convey and quitclaim the described property to Grantees. Grantees take the property as joint tenants with the right of survivorship or as tenant in common. This deed complies with all state statutory laws.
Maryland Quitclaim Deed - Husband and Wife to Two Individuals
Category:
State:
Maryland
Control #:
MD-023-77
Format:
Word;
Rich Text
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FAQ
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.
The only way to forcibly change the ownership status is through a legal action and the resultant court order. However, if an owner chooses to be removed from the deed, it is simply a matter of preparing a new deed transferring that owner's interest in the property.
A quitclaim deed will remove the out-spouse (or departing spouse) from the title to the property, effectively relinquishing their equity or ownership in the home. The execution of a quitclaim deed is typically a requirement of a divorce settlement in order to complete the division of assets.
A consenting individual may be removed from a deed by filing a quitclaim deed. Under Maryland law each county has a separate procedure and requirements for filing a quitclaim deed.
To change the names on a real estate deed, you will need to file a new deed with the Division of Land Records in the Circuit Court for the county where the property is located. The clerk will record the new deed.
It is possible to be named on the title deed of a home without being on the mortgage. However, doing so assumes risks of ownership because the title is not free and clear of liens and possible other encumbrances.If a mortgage exists, it's best to work with the lender to make sure everyone on the title is protected.
If the quitclaim deed requires the signature of all co-owners, the deed is invalid unless all co-owners have signed it and the deed is then delivered to the grantee.If one individual owns real estate and desires to add a co-owner such as a spouse, a quitclaim deed might be used.
It will depend what state the property is in. For example, the minimum fee payable when changing the title to have someone removed from a property title in NSW is $133.48. This fee must be paid to the NSW Government Land & Property Information Department.
Discuss property ownership interests. Access a copy of your title deed. Complete, review and sign the quitclaim or warranty form. Submit the quitclaim or warranty form. Request a certified copy of your quitclaim or warranty deed.