What is a Quitclaim Deed? (Fastest Way to Transfer Property) -

It’s Like Selling a Car “As-Is”

Think of a Quitclaim Deed as the legal equivalent of a shrug 🤷‍♂️.
Unlike a “Warranty Deed” (which promises the title is clean), a Quitclaim Deed promises nothing.

Feature	Warranty Deed	Quitclaim Deed
Promise	“I own this & it’s clean.”	“I give you what I have.”
Protection	100% Guaranteed	0% Guaranteed
Cost	Expensive (Title Search)	Cheap (DIY)
Common Use	Buying a House	Family / LLC

Why use it?

Because it’s fast and cheap. If you are transferring a house from “John Doe” to “John Doe LLC,” you don’t need to sue yourself for a bad title. You just want the paperwork done.

Trust Level Required

Stranger Sale Use Warranty Deed

Don’t trust them.

Divorce Settlement Use Quitclaim

Fast removal of ex.

Living Trust Use Quitclaim

Estate planning tool.

3 Steps to Make it Official

Signing the paper isn’t enough. You have to tell the government.

1. Fill out the Form

Download a template for your specific state (laws vary). List the “Grantor” (Current Owner) and “Grantee” (New Owner). Include the legal description of the property.

2. Sign with a Notary

Do not sign it at your kitchen table alone. You must sign it in front of a Notary Public. Without the stamp, it’s trash.

3. Record it at the County

Take the signed deed to the County Clerk’s Office (Recorder of Deeds). Pay a small filing fee ($20-$100).
Warning: If you don’t record it, the world still thinks the old owner owns it.

Pro Tip: The “Due on Sale” Clause

Thinking of moving your mortgaged rental property into an LLC?

The Bank’s Trap

Most mortgages have a “Due on Sale” clause. It says if you transfer the title (even to your own LLC), the bank can demand you pay off the entire loan immediately.
Reality Check: Banks rarely enforce this as long as you keep paying the mortgage on time, but it IS a risk you should know about.

Frequently Asked Questions

Does this remove the mortgage?

NO! This is the #1 misconception. A Quitclaim Deed transfers ownership, not debt. If you give the house to your brother, YOU are still 100% responsible for the mortgage loan.

Is it taxable?

Possibly. If you transfer a house to your child, the IRS considers it a Gift. You might need to file a Gift Tax Return (Form 709), though you likely won’t owe tax unless you exceed the lifetime limit ($13M+).