The Wyoming quitclaim deed is a legal document used to transfer property. The main parties to the quitclaim deed are the grantor, the party that issues the deed, and the grantee, the party that becomes the new owner of the property.
Unlike the warranty and special warranty deeds, the quitclaim deed has a quite simple form, which enables the parties to simply transfer the property without the additional formalities. However, the main flaw of the quitclaim deed is its lack of warranty.
The grantor simply transfers their interests in the property without guaranteeing that there are no other claims against it.
Quitclaim Deed Important Laws & Requirements in Wyoming
Laws & Requirements
Statute: From § 34-2-104 to § 34-2-107
Signing requirements: The grantor must sign the quitclaim deed before the notary public. (§ 34-1-113)
Recording: The grantor must record the quitclaim deed with the County Clerk’s Office according to the location of the property.
Recording fees: $12 for the first page and $3 for each additional page.
Property Disclosure Statement. The grantor must provide this statement to any potential buyer, informing them about the condition of the property.
Statement of Consideration. This document must be submitted with the quitclaim deed if the grantee is purchasing the property.
When to Use a Quitclaim Deed in Wyoming
Due to its unique features (simple form and lack of warranty), the general quitclaim form is suitable for the following legal activities.
#1. Title Modifications
The grantor can use the quitclaim deed to make modifications and changes to the property title. They can do so to fix the errors (misspelled names, wrong dates, etc.) or to update the information in the property title.
Moreover, the grantor can use the quitclaim deed to simply add or remove people from the property title.
#2. Property Transfer
The parties, however, mostly use the quitclaim deed for the property transfer. Its simple form enables the parties to transfer the property without additional formalities.
However, the quitclaim deed doesn’t provide a warranty for the grantee. This means that the grantee will purchase the property without being sure that there are no limitations that will limit their ownership. Therefore, the grantee should always check the property title before making the transfer.
#3. Living Trust Transfer
Another way in which the grantor can use the general quitclaim form is to transfer their property to their living trust. This is one of the most commonly used methods for transferring property to loved ones during someone's lifetime, besides making a will.
Considering that there is only one party 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 Wyoming
#1. Fill Out The Form
Insert the most important details about the grantor and grantee, such as their first and last names, mailing addresses, and marital status.
If the parties are legal entities, enter their registered name, mailing address, registration number, and type of entity.
#2. Add the “Note Consideration”
The note consideration provides the value of the property the grantee owes to the grantor for transferring the property. The parties can arrange to transfer the property with or without consideration (as a gift).
The consideration can be in the form of a money transfer, a default on debt, providing certain services, or any other kind of value.
#3. Write the Legal Description
This section provides all the information that helps the parties individualize the transferred property. This includes the plot number, section, township, block, street address, and other information.
#4. Sign & Get it Notarized
The grantor must sign the quitclaim deed before the notary public.
#5. File the Quitclaim Deed
Finally, the parties should submit the quitclaim deed to the body in charge of the deed registration.
Where to File a Quitclaim Deed in Wyoming
In Wyoming, the parties should register the quitclaim deed with the County Clerk’s Office.