Arkansas Quit Claim Deed Form
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People also ask arkansas quit claim deed form
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How much is a quitclaim deed in Arkansas?
A quitclaim deed must be submitted to the county recorder's office in the county where the property is located. Per Ark. Code § 21-6-306, the recording fees for a quitclaim deed are $15 for the first one-sided page and $5 for each additional page.
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What is the usual reason for using a quitclaim deed?
There are several scenarios where a quitclaim deed can be a convenient option: Marriage: allows you to easily add your spouse to your title. Divorce: if you get divorced and need the title transferred to you or your ex-spouse. Wills: If someone passes and they've granted the title to a friend or relative.
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What are the disadvantages of a quit claim deed?
A quitclaim deed does not provide any assurance that the grantor (the person transferring the property) has free and clear title to the property. In fact, it doesn't even represent that the grantor has any interest in the property whatsoever.
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How does a quit claim deed work in Arkansas?
All a Quitclaim Deed does is transfer the exact same rights the owner has at that specific time. If there are outstanding claims against the property, the buyer will be subject to all of the claims.
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What are the negatives of a quitclaim deed?
One of the main drawbacks of using a quitclaim deed is that you have little to no legal recourse if the grantor didn't actually have a legal interest in the property to give away. This is the risk you take with a quitclaim deed that doesn't offer any warranties.
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In which of the following situations would a quitclaim deed not be used?
A Quitclaim Deed Affects Ownership and the Name on the Deed, Not the Mortgage. Quitclaim deeds typically are not used in situations where the property involved has an outstanding mortgage.
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How long is a quitclaim deed good for in Arkansas?
A quitclaim deed itself doesn't have an expiration date in Arkansas. Once recorded with the county recorder's office, it becomes part of the public record and transfers ownership interest. However, there's a two-year window after recording where the validity of the deed can be challenged.
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Who benefits the most from a quitclaim deed?
Generally, a quitclaim deed is ideal for situations involving only transfer of ownership between parties that explicitly trust one another and have no doubts about the title of the property.
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