The Oklahoma quitclaim deed is a document the grantor (seller) uses to transfer property to the grantee (buyer).
Compared to the warranty and special warranty deeds, the quitclaim deed has the simplest form. This enables a quick and easy property transfer without unnecessary formalities.
However, the downside of its simple form is that the quitclaim deed doesn’t provide warranties for the grantee. By signing the quitclaim deed, the grantor simply transfers their interests in the property without giving warranties that there are no restrictions or other claims to the property title.
Quitclaim Deed Important Laws & Requirements in Oklahoma
Laws & Requirements
Signing requirements: The grantor must sign the quitclaim deed before the notary public. (§ 16-4)
Recording: The parties should file the quitclaim deed with the Register of Deeds according to the location of the property.
Property Disclosure Statement - If transferring residential property, the grantor must issue this statement to the grantee, providing information on the property’s condition.
Property Disclaimer Statement - The grantor provides this statement if they haven’t lived in the property and are not aware of the property’s condition.
When to Use a Quitclaim Deed in Oklahoma
The general quitclaim form has features that make it suitable for property transactions and other types of legal activities.
#1. Title Modifications
The grantor can use this form to make the necessary modifications to the property title.
The modifications can be made for several reasons, namely:
Quitclaim Deed Title Alteration
To fix the errors in the property title
For updating the information in the title
To clear the title
For adding or removing people from the title
#2. Property Transfer
The quitclaim deed is most commonly used for property transfers. Its simple form makes it convenient for transfers where there is no need for formalities and warranties.
The main disadvantage of the quitclaim deed is that it doesn’t provide any warranties for the grantee (buyer). The grantor (seller) is not obliged to guarantee the grantee that there are no other claims to the property. This is why the quitclaim deed is usually reserved for transfers related to divorces or other types of transactions between family members.
#3. Living Trust Transfer
The grantor can use the general quitclaim form to transfer their property to their living trust. Considering that there is only one person involved in this kind of transaction, there is no need for additional warranties.
How to Create a Quitclaim Deed in Oklahoma
#1. Fill Out The Form
Firstly, fill out the information about the grantor and grantee, namely their first and last names, mailing addresses, and marital status.
The quitclaim deed should also include information about vesting. This describes how the grantee will hold the property title. The real property is usually owned as a tenancy in common, joint tenancy, or tenancy by the entirety.
#2. Add the “Note Consideration”
This section provides information on the value of the property. The consideration can be in the form of a money transfer, a default on debt, the provision of services, or some other kind of value. The parties can also arrange to transfer the property without consideration (as a gift).
#3. Write the Legal Description
The legal description must include the addition, block, lot, section, township, and range of the transferred property. Sometimes, the parties include the metes and descriptions of the property boundaries.
#4. Sign & Get it Notarized
The grantor must sign and have the notary public acknowledge the quitclaim deed.
#5. File the Quitclaim Deed
The parties must file the quitclaim deed with the body authorized for deed registration.
Where to File a Quitclaim Deed in Oklahoma
In Oklahoma, the quitclaim deed should be submitted to the Register of Deeds according to the property’s location.