Quitclaim deeds are a fast and easy way to move property among family members, between spouses or to place real estate into a trust or business entity.
ABOUT QUITCLAIM DEEDS
When to Use a Quitclaim Deed?
Quitclaim deeds are most commonly used when property is transferred without a traditional sale. Examples include:
Transfers Between Family, Spouses (or Ex-Spouses)
or to Family Trusts.
Quitclaim deeds are often used to transfer property between family members such as parents transferring a property to their children or when siblings transfer property to each other. Quitclaim deeds are also used between married spouses (after marriage when one spouse wants to add the other to the title of his or her separate property) or between divorcing spouses (when one spouse will keep the home). Many estate planners recommend establishing trusts to hold property as part of a larger estate plan. Quitclaim deeds are frequently used to transfer property to a family trust for estate planning purposes.
Removing a Party from Title
Sometimes unmarried couples acquire a property together. If they should separate, it may be necessary for the parties to transfer title to the property to one of the parties. Quitclaim Deeds are effective tools for removing a party who no longer has a financial interest in the property.
Transfer Interest to LLC or Corporate Entity
Owners of rental properties often decide that they wish to title their property in the name of a Limited Liability Company (LLC) or Corporation to limit their exposure to lawsuits. Quitclaim Deeds are used to transfer the property from the individual to the business entity.
HOW IT WORKS
Start by contacting us.
Your attorney will review the process of transferring your property by Quitclaim Deed.
Your attorney prepares your Quitclaim Deed and emails it to you.
Print your Quitclaim Deed and sign it in the presence of a local Notary Public.
Mail the original, signed and notarized Deed to our office.
Your lawyer prepares the Transfer Return and records the Quitclaim Deed with the Register of Deeds.
Your original recorded Deed is mailed to you.
Start to finish in under two weeks.
In each of the above scenarios, the deed transfer is done simply and there is no title search or title insurance used. Quitclaim deeds are a fast and inexpensive way to transfer these types of interests in real estate.
OUR REASONABLE FLAT FEE
OUR FLAT FEE:
Includes discussing, drafting, recording and delivering your recorded deed to you.
RECORDING FEE CHARGED BY COUNTY:
DEED SEARCH CHARGED BY COUNTY:
TOTAL FEE CHARGED UPON COMPLETION:
* We reserve the exclusive right not to offer the flat fee to a prospective client depending on the proposed transaction such as the number of lots or parcels being transferred and an unusual number of Grantors or Grantees. In that event you would be notified at the start of the process and before any work is performed on your behalf. Flat fee does not include any transfer fee, if any, imposed by the State of Wisconsin.
WISCONSIN REAL ESTATE TRANSFER FEE AND TRANSFER RETURN
The Register of Deeds will not accept any Deed for recording unless it is accompanied by a Wisconsin Real Estate Transfer Return Receipt. The Receipt links the Deed to an electronically filed Transfer Return submitted to the Department of Revenue.
While Wisconsin imposes a transfer fee on property transfers, MANY TYPES OF TRANSFERS ARE EXEMPT FROM THE Wisconsin Real Estate Transfer Fee. Even if the transfer falls under an exemption, the Transfer Return must still be filed in order to record the Deed. Knowing whether or not your transfer is subject to the fee is important in accessing the total cost of transferring an interest in property.
As part of all our Deed drafting services, we will discuss the transfer fee with you and determine whether or not your transfer is subject to the fee. All our flat fee deed preparation services include a lawyer's preparation of the Transfer Return so that the Deed may be properly recorded.