What is a Quitclaim Deed in Kentucky?
In Kentucky, a quitclaim deed is used to transfer property from an owner (“Grantor”) to a new owner (“Grantee”) without any promises or guarantees about the property’s title or condition. Quitclaim deeds are a quick way to transfer property but they offer the lowest security among real estate deeds in Kentucky.
The most common use of quitclaim deeds is between parties with high levels of trust, such as family members or close friends.
What is the Difference Between a Quitclaim Deed and a Warranty Deed in Kentucky?
The main difference between quitclaim deeds and warranty deeds in Kentucky is that a quitclaim deed provides less security to the Grantee.
A warranty deed provides legal protection to the new owner because it confirms that the Grantor owns the property and has the right to make a transfer.
Warranty deeds are mostly used for real estate transactions in Kentucky. Quitclaim deeds, on the other hand, are used for transfers between family and friends.
How Do Quitclaim Deeds Work in Kentucky?
Laws surrounding quitclaim deeds are found in Chapter 382 of the Kentucky Revised Statute.
A Kentucky quitclaim deed should clearly describe the extent of the ownership rights being transferred. The document must state that the Grantor “releases and quitclaims” their interest in the property to the Grantee.
Once prepared, the quitclaim deed must be filed at the Clerk’s Office in the county where the property is located.
Can You Prepare Your Own Quitclaim Deed in Kentucky?
You can prepare your own quitclaim deed in Kentucky. A professional drafter is not legally required.
The name, address, and signature of the individual who drafted the deed, however, must be mentioned under “Prepared by.”
Kentucky Quitclaim Deed Requirements
Kentucky counties adhere to formatting standards established by the Kentucky County Clerks Association, which are based on the Real Estate Document Formatting standards set by the Property Records Industry Association (PRIA).
Formatting Requirements
Formatting requirements for quitclaim deeds in Kentucky include:
- Paper size: 8.5 x 11 preferred; 8.5 x 14 accepted.
- Paper weight: 20 lb.
- Paper color: White; no watermarks.
- Margins: 3-inch space on first page, top right for Recorder use; all other margins 1-inch.
- Font color: black ink preferred; signatues: dark blue.
- Font size: 10-point Times New Roman or equivalent.
- Spacing: 9 lines per inch maximum.
- No stapling or binding; no colored highlights/markers.
- Print on one side only.
Content Requirements
Content requirements for quitclaim deeds in Kentucky include:
- Grantor’s name and address.
- Grantee’s name and address.
- Grantor’s marital status and spouse’s name, if applicable.
- Return name and address.
- Name and address for future tax bills.
- Preparer’s name and address.
- The property address.
- Property’s Parcel Identification Number (PIDN).
- Property description.
- Property’s homestead status.
- Consideration clause – the value or the amount of money exchanged.
- Derivation clause.
The derivation clause is a statement explaining the source from which the current owner received their property rights. Here are the guidelines:- Property received through a recorded title.
- Reference the previous deed or recorded writing.
- Specify the location where the previous deed or writing was recorded.
- Provide the date, book, and page number where the previous deed or writing can be located.
- Property received through a non-written source:
- Describe how and when the title to the property was obtained.
- Include the name and relationship of the source.
- Property inherited through written or non-written source:
- An Affidavit of Descent must be completed and filed with the County Clerk before the quitclaim deed is submitted for recording.
- If the Affidavit has already been filed, include information on the record (date filed, location, and index numbers).
- Property received through a recorded title.
Who Signs a Quitclaim Deed in Kentucky?
For a quitclaim deed to be legally valid in Kentucky, it must be signed by the Grantor. As dower and curtesy rights are recognized in Kentucky, if the Grantor is married, both spouses must sign the quitclaim deed.
The signature of the Grantor and the Grantee must be acknowledged by a notary public or two witnesses.
How to File a Quitclaim Deed in Kentucky
Here’s how to file a quitclaim deed in Kentucky:
- Prepare the quitclaim deed with the information required.
- If the Grantor inherited the property, ensure that an Affidavit of Descent is filed with the county clerk before recording the quitclaim deed.
- Statement of Consideration.
- A Statement of Consideration must be included with the quitclaim deed.
- The Statement must declare one of the following:
- If the transfer is not a gift, confirmation that the consideration in the deed is the full amount paid for the property.
- If the transfer is a gift, declare the estimated fair cash value of the property.
- The Statement must be sworn and signed by the Grantor and the Grantee, in the presence of a notary.
- The Statement is not required in certain circumstances, including:
- Deeds dealing with utility easements (rights to use someone else’s land).
- Deeds that are part of divorce proceedings.
- Deeds related to cemetery lots.
- Corrections to previous deeds of the same property.
- Once the quitclaim deed is signed, ensure that it is acknowledged by the Grantor before a notary public or two witnesses.
- Lastly, the quitclaim deed must be filed at the Clerk’s Office in the county where the property is located.
How Much Does it Cost to File a Quitclaim Deed in Kentucky?
In Kentucky, the minimum charges for filing a quitclaim deed are as follows:
- Filing fee for deeds up to 5 pages is $33.
- Additional fee for each page over 5 is $3.
However, the actual filing fees charged by counties can vary. The Kentucky County Clerk’s Association has established a standard fee of $50 for the recordation of deeds.
What Taxes Are Owed on Quitclaim Deeds in Kentucky?
In Kentucky, the transfer of property using a quitclaim deed triggers real estate transfer tax:
- The transfer tax rate is $0.50 per $500.
- The amount taxed is the total paid for the property or the value of the property.
- In Kentucky, many transfers that are generally filed under quitclaim deeds are tax-exempt, including:
- Transfers involving gifts or nominal consideration.
- Transfers confirming or correcting previous deeds.
- Transfers between spouses or former spouses during divorce.
- Family transfers with nominal consideration.
- When the grantor is the sole beneficiary.
How Long Does a Quitclaim Deed Take to be Recorded in Kentucky?
The length of time it takes to record a quitclaim deed in Kentucky can vary significantly based on county-specific processes. Typically, it can take anywhere from a few days to a few weeks.
What Happens After a Quitclaim Deed is Recorded in Kentucky?
If the quitclaim deed is prepared correctly and the necessary documents are included, the County Clerk’s Office will process the deed and add it to the county’s permanent public record.
How Long Are Quitclaim Deeds Valid For in Kentucky?
There is no expiration for quitclaim deeds in Kentucky. However, the time limit to recover real property in Kentucky is 15 years.
Sources
- 1 KY.R.S. § 382.030
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General warranty. A covenant by a grantor in a deed, “that he will warrant the property hereby conveyed,” or words of like import, or the words “with warranty,” or “with general warranty,” in any deed, have the same effect as if the grantor had covenanted that he…
Source Link - 2 KY.R.S. § 381.060
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Unless a different purpose appears by express words or necessary inference, every estate in land created by deed or will, without words of inheritance, shall be deemed a fee simple or such other estate as the grantor or testator had power to dispose of..
Source Link - 3 KY.R.S. § 382.110(1)
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All deeds, mortgages and other instruments required by law to be recorded to be effectual against purchasers without notice, or creditors, shall be recorded in the county clerk’s office of the county in which the property conveyed, or the greater part thereof, is located.
Source Link - 4 KY.R.S. § 382.335(1)
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No county clerk shall receive or permit the recording of any instrument by which the title to real estate or personal property, or any interest therein or lien thereon, is conveyed… unless the instrument has endorsed on it, a printed, typewritten, or stamped statement showing the name and address of the individual who prepared the instrument, and the statement is signed by the individual..
Source Link - 5 County Formatting Standards
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1. Clerk’s Office, Jefferson County KY – Formatting Standards
The Kentucky County Clerks Association has formally adopted on November 19, 2019, the Property Records Industry Association (PRIA) standards for Real Estate Document Formatting. These format standards are effective January 1, 2020.
8 ½ x 11 preferred; 8 ½ x 14 accepted; White with no watermarks..
2. Fayette County Clerk, KY – Land Records Formatting
The Kentucky County Clerks Association has formally adopted the Property Records Industry Association (PRIA) standards for Real Estate Document Formatting as of January 1, 2020. Legibility Standards are as follows: Paper weight:20 lbs; Paper size: 8 1⁄2 x 11 preferred; 8 1⁄2 x 14 accepted…
3. Property Records Industry Association (PRIA) – Real Estate Document Formatting
Legibility: The legibility recommendations for paper documents include the following: Paper weight:20 lbs; Paper size: 8 1⁄2 x 11 preferred; 8 1⁄2 x 14 accepted… The accessibility recommendations for paper documents include the following: Document title, Grantor and Grantee names and addresses…
- 6 KY.R.S. § 382.33 (4)
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No county clerk shall receive, or permit the recording of, any instrument by which real estate, or any interest therein, is conveyed, granted, assigned, transferred, or otherwise disposed of unless the instrument complies with the official indexing system of the county…
Source Link - 7 KY.R.S. § 382.110 (2)(4)
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(2) No county clerk or deputy county clerk shall admit to record any deed of conveyance of any interest in real property equal to or greater than a life estate unless the deed plainly specifies and refers to the immediate source from which the grantor derived title to the property or the interest conveyed therein.
(4) If the source of title is a deed or other recorded writing, the deed offered for record shall refer to the former deed or writing, and give the office, book and page where recorded, and the date thereof..
Source Link - 8 KY.R.S. § 382.120(1)(2)
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(1) Before any deed to real property, the title to which has passed to the grantor under the laws of descent, is filed for record.. which affidavit shall set forth (a) The name of the ancestor; (b) The date of the ancestor’s death… (2) The affidavit shall be filed with the clerk of the county in which the real property is situated, at or before the time when the deed or conveyance is filed with the clerk for record..
Source Link - 9 KY.R.S. § 392.010
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Husband’s interest in wife’s realty same as wife’s interest in his. All the sections of this chapter, except KRS 392.100, that relate to the wife’s dower or interest in the deceased husband’s estate, shall apply in all cases, so far as may be, to the husband’s interest in the wife’s estate.
Source Link - 10 KY.R.S. § 382.130 (1)(2)
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On the acknowledgment, before the proper clerk, by the party making the deed;
(2) By the proof of two (2) subscribing witnesses, or by the proof of one (1) subscribing witness, who also proves the attestation of the other. (3) By the proof of two (2) witnesses that the subscribing witnesses are both dead; and also like proof of the signature of one (1) of them and of the grantor.
Source Link - 11 KY.R.S. § 382.135 (1)(c)
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Statement of consideration or market value..(1) In addition to any other requirement imposed by law, a deed to real property shall contain the following.. (c) A statement of the full consideration.. (3) In the case of an exchange of properties, the fair cash value of the property being exchanged shall be stated in the body of the deed.
Source Link - 12 KY.R.S. § 64.012
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(1)(a) The county clerk shall receive for the following services the following fees:
(a) 1. Recording and indexing of a: Filing with statutory authority for which no specific fee is set. For all items in this subsection if the entire thereof does not exceed five (5) pages – $33.00 And, for all items in this subsection exceeding five (5) pages, for each additional page – $3.00..
Source Link - 13 Kentucky County Clerk’s Association - Recordation Fees
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Standard Recording Fees. Document: Deed; Fee:$50.
Source Link - 14 KY.R.S. § 142.050 (2)
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A tax upon the grantor named in the deed shall be imposed at the rate of fifty cents ($0.50) for each $500 of value or fraction thereof, which value is declared in the deed upon the privilege of transferring title to real property.
Source Link - 15 KY.R.S. § 142.050 (7)
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(7)(a-o) The tax imposed by this section shall not apply to a transfer of title.. To, in the event of a deed of gift or deed with nominal consideration, or from the United States of America, this state, any city or county within this state, or any instrumentality, agency, or subdivision hereof..
Source Link - 16 KY.R.S. § 413.010
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Subject to KRS 411.190(8), an action for the recovery of real property may be brought only within fifteen (15) years after the right to institute it first accrued to the plaintiff, or to the person through whom he claims.
