Quitclaim Deed from Husband and Wife to an Individual - Virginia: Fill out & sign online

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Are quit claim deeds legal in Virginia?

Updated November 9, 2020 | Legally reviewed by Susan Chai, Esq. A Virginia (VA) quitclaim deed is a legal document that gives a property owner the ability to transfer rights and ownership to their property to another party.

What are the disadvantages of a quit claim deed?

No guarantees to the new owner: Unlike a warranty deed, a quitclaim deed does not guarantee that a property is free from title defects such as tax liens or title claims from third parties. For this reason, it is a poor legal instrument to use when selling a piece of property for cash considerations.

How much does it cost to transfer a deed in Virginia?

In Virginia, the transfer tax is 0.1 percent, or $0.50 for every $500 of the purchase price. For a purchase price of $500,000, the transfer tax is $500. A buyer is responsible for mortgage tax. If he obtained a mortgage, he must pay 0.25 percent or $0.25 per $100 in Virginia.

Do deeds have to be docHubd in Virginia?

To be valid, the deed must be signed and docHubd. The deed must include notary acknowledgment blocks that meet the requirements of Virginia law.

Why would a quitclaim deed be needed in Virginia?

Virginia couples can consider using a quit claim deed for several reasons: To transfer title for the shared marital home wholly to the other spouse. To give a home to a child without being liable for any problems (home, property lines, water) that may arise. To transfer property title from an individual to a

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