The Alaska quitclaim deed is a legal document that the property owner, the grantor, uses to transfer ownership to another person, the grantee.
Unlike warranty deeds, the quitclaim deed does not provide any warranties for the property title. The new owner receives the title as is and cannot seek recourse against the previous owner in case some title defects appear later. Therefore, it is often used in ownership transfers between trusted parties or family members.
The quitclaim deed is often called the quit claim deed, release deed, bargain deed, or sale deed.
Quitclaim Deed Important Laws & Requirements in Alaska
Laws & Requirements
Statutes: Chapter 34.15
Signing Requirements: The grantor must notarize their signature with the Alaska notary office. (§ 34.15.150)
Recording: The quitclaim deed must be recorded with the Recorder’s office according to the location of the transferred property.
Recording fees: the person submitting the quitclaim form for the recording must pay recording fees of $20 for the first page and $5 for every additional page.
When to Use a Quitclaim Deed in Alaska
The quitclaim deed is the easiest and fastest way to transfer property ownership, although it doesn’t offer a warranty to the grantee. Therefore, it is best to use it in the following situations:
#1. Title Modifications
The grantor can use the general quitclaim form to fix the errors in the property title. Moreover, this method can be used to easily update the information in the title if some of it changes since the moment of issuing.
#2. Property Transfer
The quitclaim deed is mostly used for transferring property from one party to another. Compared to other forms of deeds, the quitclaim deed is the easiest and fastest way to transfer property. However, considering the lack of buyer protection and warranties, it should be used only between trusted parties.
#3. Living Trust Transfer
The grantor can use the general quitclaim form to transfer their property to the living trust. There is no need for the warranty since the grantor is transferring the property to their own trust. However, the grantor should keep in mind that the trust will have a harder time transferring the property to third parties.
#4. Transferring Property Within the Family
Considering that there is no need for warranties in transactions between family members, this form can be used for a quick and easy transfer of property.
How to Create a Quitclaim Deed in Alaska
#1. Fill Out The Form
Insert the names and addresses and, optionally, the marital status of the grantor and grantee. If some of the parties are legal entities, enter their name, status, registered address, and registration number.
#2. Add the “Note Consideration”
This section includes a description of the counter-value that is given to the grantor for transferring the property. The consideration can be a certain amount of money, a certain counter-service, or any other value. In some cases, the property can be transferred as a gift without consideration.
#3. Write the Legal Description
The quitclaim deed should also include the legal description of the transferred item. With real estate, this often includes the plot number and the number in the municipal real estate registry.
#4. Sign & Get it Notarized
The grantor should sign the deed before the notary public.
#5. File the Quitclaim Deed
After completing and notarizing the deed, the grantor should file it with the relevant office according to the property's location.
Where to File a Quitclaim Deed in Alaska
The grantor should file the completed and notarized quitclaim deed with the local recorder’s office according to the property location.