Lee's Summit Missouri Quitclaim Deed from Corporation to Individual

State:
Missouri
City:
Lee's Summit
Control #:
MO-011-77
Format:
Word; 
Rich Text
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Description

This Quitclaim Deed from Corporation to Individual form is a Quitclaim Deed where the Grantor is a corporation and the Grantee is an individual. Grantor conveys and quitclaims the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Grantor, if any, which are reserved by Grantor. This deed complies with all state statutory laws.

A Lee's Summit Missouri Quitclaim Deed from Corporation to Individual is a legal document used to transfer ownership of property rights from a corporation to an individual in Lee's Summit, Missouri. This type of deed is commonly used when a corporation wants to transfer its interest in a property to an individual without making any guarantees about the property's title. The Lee's Summit Missouri Quitclaim Deed from Corporation to Individual is a straightforward and simple method of conveyance. It is often used in situations such as transferring property within a family-owned business or when a corporation is liquidating assets. Keywords: Lee's Summit, Missouri Quitclaim Deed, corporation to individual, property rights, transfer of ownership, legal document, title, conveyance, family-owned business, liquidating assets. Different types of Lee's Summit Missouri Quitclaim Deed from Corporation to Individual may include: 1. Standard Quitclaim Deed: This is the most common type of Quitclaim Deed where the corporation transfers its interest in the property to an individual without any warranties or guarantees. 2. Special Purpose Quitclaim Deed: This type of Quitclaim Deed is used when there are specific conditions or requirements for the transfer of ownership, such as certain restrictions or covenants. 3. Family Transfer Quitclaim Deed: This Quitclaim Deed is used for the transfer of property between family members within a corporation, ensuring a smooth transition of ownership. 4. Corporate Dissolution Quitclaim Deed: In the event of a corporation dissolving or winding up its affairs, this type of Quitclaim Deed is used to transfer the property to an individual before officially closing the corporation. Keywords: Standard Quitclaim Deed, Special Purpose Quitclaim Deed, Family Transfer Quitclaim Deed, Corporate Dissolution Quitclaim Deed, transfer of ownership, corporation, individual, Lee's Summit, Missouri.

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FAQ

Under Missouri law, a quitclaim deed must be in writing, contain the legal description of the property, and meet specific signing and acknowledgment requirements. You will need to record the deed and pay a recording fee.

The most common way of property transfer is through a sale deed. A person sells a property to another person, and then a sale deed is executed between the two parties. Once the sale deed is enlisted in sub-registrar office, the ownership gets transferred to the new owner.

A quitclaim deed transfers the title of a property from one person to another, with little to no buyer protection. The grantor, the person giving away the property, gives their current deed to the grantee, the person receiving the property. The title is transferred without any amendments or additions.

Adding someone to your house deed requires the filing of a legal form known as a quitclaim deed. When executed and notarized, the quitclaim deed legally overrides the current deed to your home. By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership.

Recording fees for quitclaim deeds vary among counties. In Clay County and Platte County, the fee is $24 for the first page and $3 for each additional page. Unlike the majority of other states, Missouri doesn't assess a real estate transfer tax on quitclaim deeds.

Gifts of real property in Missouri are subject to this federal gift tax, but note that there is generally NO state tax on such items. In accordance with federal law, individuals are permitted an annual exclusion of $15,000 on gifts.

Missouri Quit Claim Deed Form ? Summary The Missouri quit claim deed form gives the new owner whatever interest the current owner has in the property when the deed is signed and delivered. It makes no promises about whether the current owner has clear title to the property.

Transferring Missouri real estate is a four-step process: Locate the Prior Deed to the Property. The prior deed includes important information that is needed to prepare the new deed.Get a New Deed to the Property.Sign and Notarize the New Deed.Record the New Deed in the Land Records.

442.400) ? Must be filed at the County Recorder of Deeds. Signing (V.A.M.S. 442.130) ? All quit claim deeds are to be signed with the Grantor(s) in the presence of a Notary Public.

Transferring Missouri real estate is a four-step process: Locate the Prior Deed to the Property. The prior deed includes important information that is needed to prepare the new deed.Get a New Deed to the Property.Sign and Notarize the New Deed.Record the New Deed in the Land Records.

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Lee's Summit Missouri Quitclaim Deed from Corporation to Individual