Quit Claim Deed Colorado: What is it?
A quit claim deed is a legal document to transfer property from a grantor to a grantee in a quick manner. This deed comes with no warranty, which means that it does not guarantee the title’s background that it is free of taxes or clear of any other charges.
Eventually, a quitclaim deed only assures that the grantor cannot return and claim any interest in the property he has sold. Also, make sure that a public notary notarizes the deed before being presented before the state.
The person transferring his interests in some property to some other person is called the grantor. On the other hand, the person receiving the interests from the grantor is called the grantee.
As per Colorado law, some specific words should be omitted from the quit claim deed. For example, the term “convey” should never be used; instead, a quit claim deed should be used.
Common Uses of Colorado Quit Claim Deed
A quit claim deed is most commonly used when a person wants to transfer his property. Transfer property as a part of a separation settlement. For example, one mate may execute a quitclaim deed to the next, surrendering any family house interest.
This method of transferring is mainly used to transfer the property between the family members. Or between the spouses when they get married or divorced. This transfer can also happen between subsidiaries and the parent companies. Because of the already present trust bond, there are not many troubles in the transfer.
A title search should be done to make sure that the property title is clear and has no tax or any such thing on its name.
How to Write a Colorado Quit Claim Deed?
The Colorado quick Claim deed is way more straightforward than you even consider. The act is available online. You can fill it quickly over there or can go for the manual one. It all depends upon you.
Following are the steps which are needed to be followed to write a Colorado quit claim deed:
- You will have to give the data concerning whom and where the document should be returned in the upper left corner of the document. You will have to mention the date, name of the grantor, county, state, grantee, and legal address.
- Make sure that both parties must review the entire statement. Enter the amount received by the Grantee to the grantor. Submit the legal description.
- To keep the deed hassle-free, make sure a notary witnesses and records both the grantor and the grantee’s signature. It will make you safe from any dispute in the future.
Quit Claim Deeds are beneficial regarding the family’s property transfers as they are quick and don’t require to involve any attorneys. A person can himself fill the form online or fill it manually with a step-by-step guide. We have played our role and have provided the information you need to have about Colorado Quit Claim Deed. Use quit claim deed and have your work completed in the quickest way possible.