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Click ‘Get Form’ to open the Arkansas Quitclaim Deed in the editor.
Begin by entering the names of the Grantors in the designated fields. Ensure that you include any necessary details such as marital status.
Next, specify the Grantee's name and marital status. This is crucial for legal identification.
Fill in the property details, including the County and State of Arkansas, along with a complete legal description of the property as outlined in Exhibit A.
Date the document appropriately and ensure both Grantors sign where indicated. You may also need to provide printed names beneath signatures.
Lastly, complete the Notary Public section by entering their name and commission expiration date after acknowledgment.
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However, this approach has certain risks, so its not always the best option. Using a quitclaim deed might create tax issues or result in a loss of control of the property after the transfer. Additionally, the property could still require probate if you dont handle the transfer correctly.
Who benefits the most from a quitclaim deed?
The quitclaim deed simply transfers any interest they may have to the other party. Because of the lack of title guarantees, quitclaim deeds are most often used to transfer property between two parties who know and trust each other, such as family members.
How does a quitclaim deed work in Arkansas?
The distinguishing feature of quitclaim deeds is that they transfer the current owners interest with no warranty or covenants of title. The new owner (the grantee) receives whatever ownership interest, if any, the current owner (the grantor) can legally transfer.
How much does it cost to file a quit claim deed in Arkansas?
Recording Fees A quitclaim deed must be submitted to the county recorders office in the county where the property is located. Per Ark. Code 21-6-306, the recording fees for a quitclaim deed are $15 for the first one-sided page and $5 for each additional page.
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Stamps should be place on the deed to show payment of tax on a consideration of $55,000. (3) Any deed, whether warranty deed, quitclaim deed or other similar.
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