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721 QUITCLAIM DEED Individual or Corporate  Form

721 QUITCLAIM DEED Individual or Corporate Form

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Understanding the quit claim deed in Oregon

A quit claim deed in Oregon is a legal document used to transfer ownership of real property from one party to another. Unlike a warranty deed, a quit claim deed does not guarantee that the property title is clear or free of encumbrances. This type of deed is often used in situations where the parties know each other, such as family transfers or divorce settlements. It is essential to understand that the grantor (the person transferring the property) relinquishes any claim to the property without making any representations regarding its title.

Key elements of the Oregon quit claim deed

When preparing an Oregon quit claim deed, several key elements must be included to ensure its legal validity:

  • Grantor and Grantee Information: Full names and addresses of both the person transferring the property and the person receiving it.
  • Property Description: A detailed description of the property being transferred, including the address and legal description.
  • Consideration: The amount paid for the property, if any, or a statement indicating that the transfer is a gift.
  • Signature: The grantor must sign the deed in the presence of a notary public.
  • Notary Acknowledgment: A notary must acknowledge the grantor's signature to validate the document.

Steps to complete the Oregon quit claim deed

Completing a quit claim deed in Oregon involves several straightforward steps:

  1. Gather necessary information, including the names and addresses of the grantor and grantee, and a detailed description of the property.
  2. Obtain the appropriate quit claim deed form, which can be found online or at local offices.
  3. Fill out the form accurately, ensuring all required information is included.
  4. Have the grantor sign the form in the presence of a notary public.
  5. File the completed deed with the county recorder's office where the property is located.

Legal use of the Oregon quit claim deed

The quit claim deed is legally recognized in Oregon and can be used for various purposes, including:

  • Transferring property between family members.
  • Clearing up title issues or disputes.
  • Transferring property as part of a divorce settlement.
  • Transferring property into or out of a trust.

Obtaining the Oregon quit claim deed form

The Oregon quit claim deed form can be obtained through various sources:

  • Online legal document services that provide templates.
  • Local county recorder's office, where official forms may be available.
  • Legal stationery stores that sell real estate forms.

Filing the Oregon quit claim deed

Once the quit claim deed is completed and signed, it must be filed with the county recorder's office in the county where the property is located. This filing is essential for the transfer of ownership to be legally recognized. There may be a filing fee, so it is advisable to check with the local office for specific requirements and costs.

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