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Video Guide on Corporate Quitclaim Deed management

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Commonly Asked Questions about Corporate Quitclaim Deed

It can be used to release a nominal real estate interest as it can effectively transfer whatever interest the grantor has, regardless of its value. However, a quitclaim deed cannot be used to warrant that a title is valid since it does not guarantee the grantors ownership interest.
For a quitclaim deed in NY to be valid, it needs to be in writing. The document would also need to include the following details: A legal description and address of the property being deeded. The county the property is located in.
Both the buyer and seller must be party to the completion of the tax property transfer form, i.e. TP-584 and RP 5217, both must sign the deed of the property, and the property transfer must be filed with the county. At that point, the property change will be official.
Filing Fees But generally, the fee for filing a quitclaim deed form is $125 for residential or farmland and $250 for all other property types. Find the New York county clerks office for the county in which the property exists to look up the exact filing fees for your purposes.
You would have to record a new deed adding or removing the person(s) name. Because it is a legal document with legal consequences, we HIGHLY advise you work with an attorney to do so.
The fees involved in filing a quitclaim deed depend on the type of real estate being transferred. Filing a deed for a farm or residential property typically costs $125 and $250 for other types of property. There may be additional fees involved when filing your forms.