The Rhode Island quitclaim deed is a legal document used for transferring property from one party to another. The main parties to the quitclaim deed are the grantor (seller), the party that transfers the property, and the grantee (buyer), the party that becomes the new owner of the property.
Unlike the warranty and special warranty deeds, the quitclaim deed has a simple form, which enables the parties to easily transfer the property without additional formalities.
On the other side, the general quitclaim form lacks warranties for the grantee. The grantor will simply transfer their interests in the property by signing the quitclaim deed without providing any warranties that the title is free of any restrictions or claims.
Quitclaim Deed Important Laws & Requirements in Rhode Island
Laws & Requirements
Recording: The parties must record the quitclaim deed with the city or town office according to the location of the property.
Recording fees: $80 plus $1 for every additional page. (§ 34-13-7)
Additional documents: Rhode Island Real Estate Sales Disclosure Form - When selling residential property, the grantor must submit this form to the grantee and notify them about the condition of the property.
When to Use a Quitclaim Deed in Rhode Island
Due to its special features, the general quitclaim form can be used for different kinds of legal activities.
#1. Title Modifications
The grantor can use the Rhode Island quitclaim deed to make the modifications to the property.
The modifications can be made for the following reasons:
Quitclaim Deed Title Alteration
To add or remove people from the property title
For updating the information in the title
To clear the title
For correcting errors in the title
#2. Property Transfer
Parties can also use the Rhode Island quitclaim deed to transfer the property. The simple form of the quitclaim deed enables the parties to easily make the transfer. However, the lack of warranties for the grantee makes it suitable only for transfers between trusted parties or between family members.
In any case, the grantee should always check the property title before making the transfer to make sure there are no limitations or flaws with the property title.
#3. Living Trust Transfer
The grantor can use the Rhode Island quitclaim deed to transfer their property to their living trust. This activity doesn’t require any additional warranties, making the quitclaim deed a suitable solution.
How to Create a Quitclaim Deed in Rhode Island
#1. Fill Out The Form
Insert the basic information about the grantor and grantee, such as their first and last names, mailing addresses, and marital status. If the parties are legal entities, insert their registered names, forms of entities, mailing addresses, and registration numbers.
#2. Add the “Note Consideration”
This section provides information about the property value the grantee should transfer to the grantor to obtain the property. The consideration can be the transfer of money, default on debt, the provision of services, or any other form of value.
In practice, the parties can also agree that the property is transferred without consideration (as a gift). This is common for transfers between family members.
#3. Write the Legal Description
The legal description includes information such as the section, township, block, map number, plat number, property address, and other information that will help the parties individualize the property.
#4. Sign & Get it Notarized
The grantor must sign the quitclaim deed, and the notary public must acknowledge their signature.
#5. File the Quitclaim Deed
The parties must file the quitclaim deed with the governmental body authorized for deed registration.
Where to File a Quitclaim Deed in Rhode Island
In Rhode Island, the parties must file the quitclaim deed with the city or town office according to the property’s location.