The ownership transfer procedure might be challenging as both parties need to consider several aspects to save monetary funds on the one hand and maintain a fair name on the other hand. Once two individuals or entities achieve a good balance in negotiations, they should create a special document containing everything necessary regarding the transfer in writing: an Indiana quitclaim deed or a warranty deed.
This review is dedicated to quitclaim covenants, their focal points, and the peculiarities of filing this free printable deed form within the jurisdiction of Indiana.
An Indiana quitclaim deed is a legal document that allows one person to release their estate property ownership and entitle the purchaser to possess the real estate. Unlike a warranty deed, quitclaim covenants do not provide any guarantees regarding the clear possession of the property. Therefore, in an unfavorable situation, there might be other claims against the property from third-party representatives.
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Indiana quitclaim agreements are exempt from providing any warranty regarding the title. They are more popular among family members who wish to introduce some amendments: either enter or remove the names of other relatives from the title or deed. Still, if someone decides to buy real estate from an unverified seller, it is vital to check all title-related aspects thoroughly, as there may be other interested people to claim the title after the purchase.
If the parties decide to conclude a free fillable quitclaim deed form in Indiana, here are some guidelines and requirements that they must accomplish to maintain the legitimacy of the process. All quitclaim agreements are regulated by § 32-21-1-15 of the Indiana Code and should contain the following:
Following the statutes mentioned above, quitclaim deeds must contain the grantor’s acknowledgment, including their legal name and signature. The document must also be witnessed and authenticated by a licensed notary public. The purchaser is exempt from signing the documents, but the parties should specify the grantee’s legal name to transfer the premises.
After signing and witnessing the paper, it must be filed with the local County Recorder’s Office. Ensure you register the deed in the area where the premises are situated. A fee contribution follows the procedure. The seller is welcome to learn the necessary payment info from the County Recorder’s Office.
Although the grantee is in charge of title revision and should find out as much as possible regarding the premises and estate ownership, they are not liable for creating a quitclaim deed. Traditionally, Indiana laws do not require the grantee’s acknowledgment. Therefore, full responsibility is conveyed to the seller (or the grantor).
We encourage you to use our latest software to generate the required quitclaim PDF template that accommodates the state’s demands.
1. Identify the Parties
Begin filling in the form by providing the legal names of both the grantor and the grantee.
2. Specify the Consideration Amount
On this line, the seller should enter the amount they compensated for the premises. Enter the amount in numbers and words. If there are other ways of compensation, including exchange or installments, the corresponding info must be recorded in the Exhibit A attachment following the general deed.
3. Write the Date the Quitclaim Deed is Created
The seller should specify the calendar day, month, and year when the deed is created. Let them enter their name and provide the date.
4. Acknowledge the Document
To authenticate the intentions, the grantor must append the signature and submit the full name in a printed manner.
5. Ensure the Notary Public Certification
Under Indiana statutes, a quitclaim deed must be executed in the presence of a notary public. Once the grantor fills out the inherent information, let the notary acknowledge the paper by providing their name, state seal, signature, and commission details.
6. Enter the Preparer’s Data
In the final section of the quitclaim covenant, the grantor should enter their name and contact information, including the address or fax, to receive the tax bill. Ensure to submit the unit (room) number, building, street, city, state, and ZIP details.
After the preparation is complete, register the paperwork at the County Recorder’s Office, relying on the area where the premises are located.