The Vermont quitclaim deed is a legal document used for property transfers. The main parties to the quitclaim deed are the grantor and grantee.
The grantor issues the quitclaim deed and transfers all of their interests in the property to the grantee, who becomes the new owner of the property. Compared to other types of deeds, the quitclaim deed has a simple form, which enables the parties to simply transfer the property without additional formalities.
However, the quitclaim deed doesn’t provide any warranties for the grantee. That means that the grantor won’t be liable if they transfer property that has limitations or if there are some claims against the property title.
Quitclaim Deed Important Laws & Requirements in Vermont
Laws & Requirements
Signing requirements: The grantor’s signature must be acknowledged by the notary public. (§ 341(a))
Recording: The parties must submit the finalized quitclaim deed to the local County Clerk’s Office according to the location of the property.
Recording fees: $15 per page. (§ 1671(a)(6))
When to Use a Quitclaim Deed in Vermont
Due to its simple form and lack of guarantee for the grantee, the general quitclaim form is mostly used for the following legal actions.
#1. Title Modifications
The grantor can use the quitclaim deed to make changes and modifications to the text of the property title. They can do so to correct the errors in the title (misspelled names or the wrong date) or to update the information.
Additionally, the grantor can also use the quitclaim deed to add or remove people from the title.
#2. Property Transfer
The parties mostly use the quitclaim deed to transfer the property. The quitclaim deed has a simple form compared to the warranty and special warranty deed, which enables a fast transfer.
However, the quitclaim deed lacks a warranty for the grantee.
By signing the quitclaim deed, the grantor will simply transfer their interest in the property without guaranteeing that there are no other claims against the property title. Therefore, the grantee should always check the property title before making such transfers.
#3. Living Trust Transfer
Finally, the grantor can use the quitclaim deed to transfer their property to their living trust. Considering that there is only one person involved in the transaction, there is no need for additional warranties, which makes the quitclaim deed a suitable solution.
How to Create a Quitclaim Deed in Vermont
#1. Fill Out The Form
Firstly, enter the date of the property transaction and the full names, mailing addresses, and marital status of the grantor and grantee.
#2. Add the “Note Consideration”
Provide information on the value the grantee owes to the grantor for transferring the property.
The consideration can be in the form of a money transfer, a default on debt, providing certain services, or any other type of value. For the transactions between the family members, it is common to arrange a property transfer without consideration.
#3. Write the Legal Description
Enter the plot number, section, township, block, street address, and other information that the parties use to identify the property. The best way to find a precise legal description of the property is to look at the property title or the previous deed.
#4. Sign & Get it Notarized
You must sign the quitclaim deed before the notary public
#5. File the Quitclaim Deed
Finally, submit the finalized document to the body authorized for deed recording.
Where to File a Quitclaim Deed in Vermont
In Vermont, the parties must submit the quitclaim deed to the County Clerk’s Office for recording.