The Iowa quitclaim deed is a document used for property transfers between two parties. The parties to the Iowa quitclaim deed are the grantor, the one who transfers the property, and the grantee, the party that becomes the new owner of the property.
The specific features of the quitclaim deed make it the fastest and simplest way of transferring property compared to the other types of deeds (warranty deed and special warranty deed).
However, the general quitclaim form doesn’t provide any warranties for the property title. Therefore, it is used more in transactions between trusted parties than in classical sales transactions.
Quitclaim Deed Important Laws & Requirements in Iowa
Laws & Requirements
Statute: Forms of conveyance. (§ 558.19 (1))
Signing Requirements: The signature of the quitclaim deed should be done before the notary public. (§ 558.20)
Recording: The quitclaim deed should be registered with the County Recording Office, according to the location of the property.
Groundwater Hazard Statement: The party transferring the property must complete this form and attach it to the quitclaim deed.
When to Use a Quitclaim Deed in Iowa
The specific features of the Iowa quitclaim deed make it a perfect solution for transferring the property in the below-mentioned cases:
#1. Title Modifications
The grantor can use the quitclaim deed to:
Quitclaim Deed Title Alteration
Make the changes in the title due to the error
Update the information in the title
Add or remove the people from the title
#2. Property Transfer
The Iowa quitclaim deed is most commonly used for property transfers. However, by signing the quitclaim deed, the grantor simply transfers their interest in the property to the grantee.
The grantor is not providing any warranties that they are authorized to transfer the property or that there are no other claims against the property.
This makes the quitclaim deed the perfect solution for transfers where there is no need for additional warranties, like transfers between family members.
#3. Living Trust Transfer
The grantor can use this type of general quitclaim deed to transfer the property to their living trust. Considering that there is only one person involved in this transaction, there is no need for special warranties. However, the living trust will have a harder time transferring the property if there is a quitclaim deed in the transfer line.
How to Create a Quitclaim Deed in Iowa
#1. Fill Out The Form
Enter the details about the grantor and the grantee, such as their names, mailing addresses, ID numbers, and marital statuses. If the parties are legal entities, enter their registered names, mailing addresses, registration numbers, and status (sole proprietorship, partnership, limited liability company, or corporation).
#2. Add the “Note Consideration”
The note consideration provides information on how much the grantee owes to the grantor for transferring the property.
Forms of Consideration
Transfer of money
Providing certain services
Default on debt
Any other kind of value
In some cases, the parties will set the nominal value as a consideration in the quitclaim deed, while the real amount will remain private.
#3. Write the Legal Description
The legal description helps the parties individualize the transferred item. It usually includes the plot number and the name of the authority where the property is registered. It can also include a description of property boundaries.
#4. Sign & Get it Notarized
The grantor must sign the quitclaim deed before the notary public.
#5. File the Quitclaim Deed
Finally, the parties must file the quitclaim deed with the governmental body in charge of document registration.
Where to File a Quitclaim Deed in Iowa
In Iowa, the parties register the quitclaim deed with the County Recording Office according to the location of the property.