Or quitclaim deed 2025

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The document is a Quitclaim Deed used for transferring property ownership from one individual (Grantor) to two individuals (Grantees) as joint tenants. It includes legal descriptions of the property, stipulations regarding land use laws in Oregon, and requirements for verifying the lawful establishment of the property being transferred. The document also outlines the need for acknowledgment by a notary public.

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Click ‘Get Form’ to open the Quitclaim Deed in the editor.
Begin by entering the Grantor's name in the designated field, ensuring it matches official records.
Next, fill in the names of the Grantees. Specify their relationship as either 'Tenants by the Entireties', 'Joint Tenants with Right of Survivorship', or 'Tenants in Common' based on your agreement.
Provide a detailed legal description of the property being transferred. If you have an Exhibit A, attach it and reference it accordingly.
Enter the street address of the real property clearly to avoid any confusion.
Indicate the true consideration paid for this transfer in dollars, ensuring accuracy for legal purposes.
Finally, have the Grantor sign and date the document. Ensure that a Notary Public acknowledges this signature for validity.

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Under what circumstances is a quitclaim deed commonly used?

Quitclaim deeds are typically used in low-risk transactions and non-sale situations where the parties to the deed know and trust each other. Here are a few common scenarios: Transferring property between family members. Parents, for example, might use a quitclaim deed to transfer property to their children.

Who benefits the most from a quitclaim deed?

A quitclaim deed benefits those involved in transactions between trusted parties, such as family members, divorcing spouses, or close friends.

What are the downsides of a quit claim deed?

Quitclaim deeds transfer ownership without any guarantees, which means the grantee could inherit problems like unpaid taxes, liens, or title defects. Since the deed offers no legal protection, there is little recourse if issues arise after the transfer.

Why would anyone use a quitclaim deed?

Common Uses of Quitclaim Deeds in California One common use is during divorce proceedings, where one spouse transfers their interest in a jointly owned property to the other spouse. Another typical scenario is when a property owner wishes to add a family member to the title, such as a child or sibling.

What are the disadvantages of a quit claim deed?

The big drawback is it doesnt offer guarantees. The person getting the property takes it as is. They risk the seller not really owning the property. This makes quitclaim deeds less ideal for most real estate deals. Warranty deeds offer more protection.