This form is a Quitclaim Deed where the grantor conveys and quitclaims to the grantees as tenants in common. This deed complies with all state statutory laws.
A quitclaim deed in Raleigh, North Carolina is a legal document that facilitates the transfer of property ownership from an individual to two individuals. This type of deed is commonly used when there is a need to update the ownership of a property, such as transferring ownership to joint tenants, family members, or business partners. This Raleigh North Carolina quitclaim deed allows the individual owner, referred to as the granter, to "quit" or relinquish any claims or interest they have in the property to the two individuals, known as grantees. Unlike other types of deeds, a quitclaim deed does not guarantee that the granter has full ownership rights or that the property is free of liens or encumbrances. It merely transfers the granter's rights, if any, to the grantees. One common variation of the Raleigh North Carolina quitclaim deed from an individual to two individuals is the joint tenancy with right of survivorship. In this case, the two grantees become joint owners of the property, and if one owner passes away, the surviving owner automatically becomes the sole owner of the property. This type of quitclaim deed ensures that the property passes smoothly to the surviving joint tenant outside of probate. Another type of quitclaim deed is the tenancy in common. Here, the two individuals become co-owners of the property with equal or unequal shares. Each tenant in common has the right to transfer or sell their share without the consent of the other. In case of death, the deceased owner's share will pass on to their heirs or as stated in their will. When completing a Raleigh North Carolina quitclaim deed, it is essential to involve a qualified real estate attorney or title company to ensure the deed is prepared accurately and the property transfer is conducted according to the state's laws and regulations. Additionally, it is prudent for the grantees to conduct a title search to discover any existing liens, easements, or restrictions on the property before finalizing the transfer. In conclusion, a quitclaim deed in Raleigh, North Carolina is a legal document that allows an individual owner to transfer their interest in a property to two individuals. It is crucial to determine the specific type of quitclaim deed, such as joint tenancy with right of survivorship or tenancy in common, based on the desired ownership structure. Seeking professional assistance, such as an attorney or title company, is highly recommended ensuring a smooth and legally compliant transfer of ownership.
