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Quitclaim Deed from Corporation to Two Individuals - Kentucky

Quitclaim Deed from Corporation to Two Individuals - Kentucky 2026

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This document is a Quitclaim Deed executed by a corporation transferring its interest in real property to two individuals as joint tenants with rights of survivorship for a nominal consideration of one dollar. It outlines the property details, including legal descriptions and reservations, and specifies that upon the death of one grantee, the surviving grantee will inherit the entire interest in the property.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the date of the deed at the top of the form. This is crucial for legal validity.
Fill in the name of the corporation acting as the Grantor, along with its state of incorporation and address.
Next, input the names and addresses of the two individuals who are the Grantees. Ensure that both names are clearly stated as joint tenants.
In the section regarding consideration, confirm that you enter 'One Dollar ($1.00)' as well as any additional valuable considerations if applicable.
Provide a detailed legal description of the property being transferred. If necessary, attach Exhibit A for clarity.
Complete prior instrument references by filling in Book, Page, and Document numbers related to previous ownership.
Ensure all signatures are obtained from authorized representatives of the corporation and notarization is completed before finalizing.

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How does a quitclaim deed work in KY?

A Kentucky quitclaim deed form transfers the owners entire interest as of the date of the deed. The new owner receives whatever interest the current owner can legally transfer. The current owner, though, does not promise the new owner a clear title or undisputed ownership of the property.

What are common quitclaim deed mistakes?

Failing to Verify the Titles Condition. One of the biggest mistakes people make when using a quitclaim deed is assuming that the propertys title is free and clear. A quitclaim deed transfers ownership, but it does not guarantee that the property is free from encumbrances such as liens, judgments, or unpaid taxes.

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 to get a co-owner off a deed?

To remove a co-owner from a property deed, the current owners typically execute a quitclaim deed or similar document transferring interest. Both parties must agree and sign the deed, which is then recorded with the county recorders office.

What is the statute of a quit claim deed in Kentucky?

382.010 establishes the legal foundation for conveying Kentucky real estate interest using a deed. Quitclaim deeds specifically convey ownership interest from the grantor without any covenant of title.

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What are the risks of a quitclaim?

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.

How many people can be on a quitclaim deed?

You can put as many people as you want as grantees on a quit claim deed. However, the problem with putting all of your children on the property as 1% owners is that you would be giving each of your children a veto power if you want to sell or mortgage the condo.

Quitclaim Deed from Corporation to Two Individuals - Kentucky 2026

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