Quitclaim deeds are used by individuals aiming to transfer interest in movable and immovable property to other people. Unlike the warranty deed, a quitclaim does not guarantee that the given property is free from legal restrictions such as being in a pledge or encumbrance. After completing, signing, and registering the Florida quitclaim deed form, all interests are transferred to the holder of the deed form. Subsequently, the new owner (the Grantee) possesses any property rights that the current owner (the Grantor) has or had.
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A quitclaim deed is a document that cannot provide security for the legally verified title. So generally, the form is signed by familiar people, usually family members of the grantor.
The Florida quitclaim deed is governed by Chapter 695.01 Conveyances and liens to be recorded of the Florida Statuses. Among other more detailed items, the law regulates two critical aspects of the transfer of property rights. Firstly, compensation to the grantor from the receiving party is prohibited because the quitclaim deed is a bona fide gratuitous transfer of property right. Secondly, the property right is given to the transferee with preservation of the current status of pledge or encumbrances at the time of transfer.
Here are some situations when individuals can use the Florida quitclaim deed:
By the local laws, the document must be signed by both parties, a notary public agent, and two witnesses.
Florida quitclaim deed must not be confused with Florida general warranty deed or the Florida special warranty deed, both of which provide a guarantee of title in varying degrees. A general warranty deed ensures object status throughout the ownership history, while a special warranty deed is responsible only for the current owner.
Unlike both of these forms, the quitclaim deed does not guarantee any security for the object title to a transferee. Thus, the language used in warranty deeds differs from that used in a quitclaim deed.
The main language distinction is in the clause denying the grantee any guarantees of title. As the quitclaim deed implies complete refusal to check and control the title, the document does not include a warranty formula that is present in the warranty deeds mentioned above. Quitclaim deed has no phrase indicating the liability of the grantor for the title of the object. Indeed, it contains a statement that the property goes to a new owner with “all the right, title, interest and claim which the said first party has in.”
At the same time, the paper clearly expresses the rights of co-owners and the legal description of the object and contains fields for signatures of the parties. The Florida quitclaim deed form has formal requirements regarding the font size, margins, and so on.
The quitclaim process takes five steps to file the document, and they are as follows:
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