Quitclaim deed form kentucky 2025

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This document is a Quitclaim Deed transferring property rights from an individual (Grantor) to a Limited Liability Company (Grantee) for a nominal consideration of one dollar. It outlines the property being conveyed, specifies reservations of oil, gas, and minerals, and includes provisions regarding easements and rights-of-way. The deed requires notarization and includes sections for the parties' names and addresses.

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How long does it take to file a quit claim 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 quit claim deed work in Kentucky?

A Quit claim deed is defined as follows: A deed of conveyance operating by way of release; that is, intended to pass any title, interest or claim which the grantor may have in the premises, but not professing that such title is valid, no containing any warranty or covenants for title.

What are the disadvantages of a quit claim deed?

Laypersons may conduct real estate closings, but may not answer legal questions that arise at the closing, or offer any legal advice to the parties. However, preparation of deeds and mortgages constitutes the practice of law and must be prepared by an attorney.

How to file a quit claim deed in Kentucky?

A quitclaim deed transfers the title of a property from one person to another, with little to no buyer protection. The grantor, the person giving away the property, gives their current deed to the grantee, the person receiving the property. The title is transferred without any amendments or additions.

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Key Facts About the Quitclaim Deed Form

Purpose of the Quitclaim Deed

Consideration Amount

Property Description Requirement

Reservation of Rights

Subject to Existing Conditions

Notary Acknowledgment Requirement

Tax Statement Instructions

Purpose of the Quitclaim Deed

The Quitclaim Deed is used to transfer ownership rights in real property from an individual (Grantor) to a Limited Liability Company (Grantee) without guaranteeing that the title is clear.

Consideration Amount

The deed specifies a nominal consideration amount of One Dollar ($1.00), which is often used in legal documents to signify a transaction.

Property Description Requirement

The form requires a detailed description of the property being transferred, indicated as 'SEE DESCRIPTION ATTACHED', ensuring clarity on what is included in the transfer.

Reservation of Rights

The Grantor reserves all oil, gas, and minerals beneath the property, indicating that these rights are not transferred to the Grantee.

Subject to Existing Conditions

The deed is subject to existing easements, rights-of-way, and protective covenants, meaning any such conditions affecting the property remain in effect after the transfer.