The Kentucky quitclaim deed is a document the parties use to transfer the property. The parties involved in this process are the grantor, the person transferring the property, and the grantee, the person who becomes the new owner of the property.
Unlike other types of deeds, the general quitclaim form doesn’t provide any warranties for the grantee. By signing the quitclaim deed, the grantor simply transfers all of their interests in the property to the grantee without providing guarantees that they are authorized to transfer the property.
On the other hand, the quitclaim deed is also the fastest way to transfer property compared to the other types of deeds.
Quitclaim Deed Important Laws & Requirements in Kentucky
Laws & Requirements
Statute: Chapter 382
Signing requirements: The grantor must sign the quitclaim deed before two witnesses or the Notary Public/County Clerk. (§ 382.130)
Recording: The quitclaim deed must be submitted to the County Clerk’s Office for recording.
Recording fees: $50 (Standard recording fees)
Additional documents: Consideration Certificate - It must be attached to the quitclaim deed if the property is transferred as a gift or for a nominal fee. (§ 382.135(1)(e))
When to Use a Quitclaim Deed in Kentucky
The simplicity of the form and the lack of warranties make the quitclaim deed a perfect solution for the following situations.
#1. Title Modifications
You can use the quitclaim deed form to make changes and modifications to your property title. The modifications can be made due to an error in the title or when some of the information in the title must be updated.
#2. Property Transfer
The most common use for the general quitclaim deed is for property transfers between the two parties. The grantor will simply sign the quitclaim deed before two witnesses or the notary public and transfer all the interest to the grantee.
However, the quitclaim deed should be used for property transfers only between trusted parties and family members due to the lack of warranty for the grantee.
#3. Living Trust Transfer
You can use the quitclaim deed to transfer the property from your personal assets to the living trust. The quitclaim deed is the perfect document for such a transfer, considering that there is no need for additional warranties for this kind of action.
How to Create a Quitclaim Deed in Kentucky
#1. Fill Out The Form
Enter the details about the grantor and grantee, namely:
If the parties are legal entities, enter their registered names, registration numbers, statuses, and mailing addresses.
#2. Add the “Note Consideration”
This section provides details about the value the grantee owes to the grantor for transferring the property. The consideration can be expressed as the payment of a certain amount of money, defaulting on a debt, providing certain services, or any other kind of value.
The parties can also arrange to transfer the property without any consideration (as a gift).
#3. Write the Legal Description
The legal description provides the parties with the necessary information that helps them individualize the transferred property. It is usually presented as the plot number and the name of the governmental body where the property is registered.
#4. Sign & Get it Notarized
The grantor must sign the quitclaim deed before the two witnesses or the notary public.
#5. File the Quitclaim Deed
Finally, the parties should submit the quitclaim deed to the relevant body in charge of the deed registration.
Where to File a Quitclaim Deed in Kentucky
In Kentucky, the parties should file the quitclaim deed with the relevant County Clerk’s Office according to the property’s location.