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Click ‘Get Form’ to open it in the editor.
Begin by filling in the 'Prepared by' section at the top, including your name, firm/company, address, and contact information.
In the main body of the deed, specify the Grantor's name (the corporation) and its state of incorporation. Then, enter the names of the two Grantees (individuals) who will receive the property.
Provide a detailed legal description of the property being transferred. This may be attached as Exhibit A; ensure it is correctly referenced.
Complete any necessary sections regarding easements or mineral rights that may affect the property.
Have an authorized signatory from the corporation sign and date the document. Include their title and capacity.
Finalize by having a notary public witness and notarize the document, ensuring all required fields are filled out accurately.
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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.
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.
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.
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.
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