The Indiana quitclaim deed is a document the grantor uses to transfer the property to the grantee. In this document, the grantor acts as a seller and transfers the property, and the grantee acts as a buyer and becomes the new owner of the property.
Two main features of the quitclaim deed are its simple form and the lack of a warranty. By issuing the quitclaim deed, the grantor simply transfers all of their interests in the transferred item without providing any warranty that they are authorized to transfer the property or that there are no other claims to the property.
Quitclaim Deed Important Laws & Requirements in Indiana
Laws & Requirements
Statute: Conveyances by quitclaim. (§ 32-21-1-15)
Signing Requirements: The grantor must sign the Indiana quitclaim deed before a notary public, judge, clerk of a court of record, county recorder, the mayor of any city, or any other authorized individual. (§ 32-21-2-3(a)(2))
Recording: Every quitclaim deed issued in Indiana must be recorded before the County Recorder’s Office.
Recording Fees: $25. (§ 36-2-7-10(c)(1))
Residential Property Disclosure Statement The sellers of residential real estate must complete this statement and provide information on the property’s condition.
When to Use a Quitclaim Deed in Indiana
Considering the special features of the Indiana quitclaim deed, it is most suitable to be used in the situations mentioned below.
#1. Title Modifications
The grantor can use the quitclaim form to quickly change the details in the property title. The changes can be made if there is an error in the property title or if some information from the title must be updated. The grantor can also use this document to add or remove people from the title.
#2. Property Transfer
The general quitclaim form is most commonly used for property transfers. Compared to a warranty deed, this is a faster and less formal way of transferring property. However, by issuing the quitclaim deed, the grantor only transfers their interests without providing any warranty in relation to the property title.
#3. Living Trust Transfer
The grantor can use this type of deed to transfer their property from their assets to their living trust. Considering the nature of such a transaction, there is no need for any additional warranties, which makes the quitclaim deed a perfect solution.
How to Create a Quitclaim Deed in Indiana
#1. Fill Out The Form
Firstly, insert the basic information about the grantor and grantee, such as their names, mailing addresses, ID numbers, and marital statuses. If the parties are legal entities, enter their registered names, mailing addresses, statuses, and registration numbers.
#2. Add the “Note Consideration”
The note consideration provides information about the counter value the grantee owes to the grantor for transferring the property. The transfer can be done with or without consideration (as a gift). If the parties choose to include the consideration, it can be in the form of a money transfer, the default of the debt, the provision of certain services, and more.
#3. Write the Legal Description
The legal description of the property helps the parties and any third person to individualize what is transferred. It usually includes the plot number and the name of the authority where the plot is recorded.
In some cases, the parties will describe the property boundaries when there is no plot number available.
#4. Sign & Get it Notarized
In Indiana, the quitclaim deed must be signed and acknowledged by the notary public or other body authorized for such acknowledgments, according to Indiana Code § 32-21-2-3(a)(2)
#5. File the Quitclaim Deed
Finally, the parties file a quitclaim deed and register it with the relevant governmental agency.
Where to File a Quitclaim Deed in Indiana
In Indiana, the parties must register the quitclaim deed before the County Recorder’s Office.