Summary
A quitclaim deed is a legal instrument used to transfer interest in real property. It includes the grantors and grantees information, property description, date of transfer, and notarization. In Mississippi, it must be acknowledged by a justice court judge, clerk of the court, or notary public. For business transfers, other legal instruments might be required. Considering posthumous wishes, a will or trust could be more appropriate. Consult a local attorney for accurate advice.Full Conversation
quitclaim deed example
Hello ****, I understand you're looking for an example of a quitclaim deed. A quitclaim deed is a legal instrument that is used to transfer interest in real property. The entity transferring its interest is called the grantor, and the one receiving the interest is the grantee. It's important to note that quitclaim deeds in Mississippi must be acknowledged by the grantor before a justice court judge, clerk of the court, or notary public. Here are the main elements:
- The grantor's information
- The grantee's information
- Legal description of the property
- Date of transfer
- Signature of the grantor
- Notarization
Please consult with a local attorney or real estate professional to ensure all legal requirements are met.
Would this be a quitclaim deed Marshall Johnson wishes to sell his business "Tote the Note Car Sales" to his brothers, Lee, Bob and Jack Johnson. The used car lot has a place of doing business including real property and attachments. Lee is concerned that he may soon die from several health complications he is experiencing, but Lee decides he wants his brothers to have the property if he were to die. The other brothers agree and have like wishes. Marshall's address is * Lakes Lane, Hollywood, MS *, and his phone number is *-*-*. Lee's address is * Pine Road, Hollywood, MS * and the phone number is *-*-*. Bob's address is * Hunter Road, Hollywood, MS * and the phone number is *-*-*. Jack's address is * Dove Circle, Hollywood, MS * and the phone number is *-*-*.
A quitclaim deed could work in this situation, but it is important to note:
- Quitclaim deeds do not guarantee clear title.
- These deeds only transfer the interest the grantor has in the property.
- For business transfer, a different legal instrument might be required.
- A will or trust might be a better option for expressing posthumous wishes.
- Legal counsel should be sought for accurate advice.
what kind of deed do you think it is ?
Based on the information provided, it appears a Quitclaim Deed could be utilized to transfer Marshall's interest in the business to his brothers. However, considering the brothers' concerns about death and subsequent ownership, it may be advisable to also consider a Joint Tenancy Deed or creating a Living Trust. Please consult a local attorney for personalized advice.
can you show me a layout with the example above
Sure, here's a basic layout of the deed:
~QUITCLAIM DEED
THIS QUITCLAIM DEED is made this _____ day of _______, 202_.
BETWEEN: Marshall Johnson, of * Lakes Lane, Hollywood, MS *, hereinafter referred to as the "Grantor".
AND: Lee Johnson, Bob Johnson, Jack Johnson, of * Pine Road, Hollywood, MS *; * Hunter Road, Hollywood, MS *; * Dove Circle, Hollywood, MS *; respectively, hereinafter referred to as the "Grantees".
WITNESSETH, that the Grantor, in consideration of the sum of $______, received from the Grantees, does hereby remise, release, and forever quitclaim unto the Grantees, their heirs and assigns forever, all the right, title, interest, claim and demand which the Grantor has in the following described property:
(Description of the Property)
IN WITNESS WHEREOF, the said Grantor has executed this Quitclaim Deed on the date first above written.
_______________________
(Grantor's Signature)
_______________________
(
TRY ME!
Start a new chat