The Idaho quitclaim form is a document that one person, called the grantor, uses to transfer their property to another person, called the grantee.
Compared to the warranty deed and special warranty deed, the quitclaim deed is a relatively fast and simple way to transfer property between two parties.
However, the general quitclaim form doesn’t provide warranties for the buyer since the grantor simply transfers their interests in the property to the grantee and doesn’t guarantee that there are no other claims on the property title.
The quitclaim deed is often called the no warranty deed, release deed, bargain deed, or sale deed.
Quitclaim Deed Important Laws & Requirements in Idaho
Laws & Requirements
Signing Requirements: Every Idaho quitclaim deed must be signed before the notary public. (§ 55-805)
Recording fees: $15 for the first thirty pages and $3 for every additional page. (§ 31-3205)
Language: The word “grant” should not appear in the Idaho general quitclaim form. (§ 55-612)
When to Use a Quitclaim Deed in Idaho
Considering the Idaho quitclaim deed's specific features (simple form and lack of warranties), the parties usually use it in the following cases:
#1. Title Modifications
The grantor can use the quitclaim deed to simply change the information on the property title. This kind of procedure is much faster than using the regular methods of changing the title due to its simple form. The grantor can use it to fix the errors in the property title or update the information.
#2. Property Transfer
Property transfer is what the Indiana quitclaim deed is most commonly used for. It enables the grantor to quickly transfer the property to the grantee. However, due to the lack of warranties, this type of deed should be used only between trusted parties and family members.
#3. Living Trust Transfer
The grantor can use this type of deed to transfer their property from their assets to the living trust. Considering that there is only one person involved in the transaction, there is no need for any warranties, which makes the quitclaim deed a perfect method for such a transfer.
How to Create a Quitclaim Deed in Idaho
#1. Fill Out The Form
Firstly, insert information about the grantor and the grantee, such as their full names, mailing addresses, ID numbers, and marital statuses. If some of the parties are legal entities, provide their registered names, mailing addresses, registration numbers, and statuses.
#2. Add the “Note Consideration”
The note consideration provides details about the value the grantee owes to the grantor for transferring the property. This can be a certain amount of money, services, a default on debt, or anything else of value. In some cases, the grantor can transfer the property to the grantee without any consideration (as a gift).
#3. Write the Legal Description
The legal description includes all the relevant information about the property that helps the parties individualize it and differentiate it from other properties. In practice, this information includes the specific lot number and block number within the recorded plat map. The legal description can be easily found on the property title or the previous deed.
#4. Sign & Get it Notarized
The grantor must sign the Idaho quitclaim deed before the notary public.
#5. File the Quitclaim Deed
Finally, the signed and notarized quitclaim deed must be filed with the relevant governmental body in charge of the deed registration.
Where to File a Quitclaim Deed in Idaho
In Idaho, the quitclaim deed must be submitted to the County Recorder Office, according to the location of the property.