Arkansas Quitclaim Deed Form

Last Updated: December 21, 2023 by Rukshani Lye

What is a Quitclaim Deed in Arkansas?

In Arkansas, 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. Quitclaim deeds are a quick way to transfer property, but they offer the lowest security among real estate deeds in Arkansas.

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The most common use of quitclaim deeds is between parties with high levels of trust, such as family members or close friends.

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What is the Difference Between a Quitclaim Deed and a Warranty Deed in Arkansas?

The main difference between quitclaim deeds and warranty deeds in Arkansas is that a quitclaim deed provides less security to the new owner.

A warranty deed provides stronger assurances about the title’s validity and the Grantor’s legal ownership. A quitclaim deed simply transfers the Grantor’s interest in the property without any guarantees.

The choice between the two types of deeds depends on the type of real estate transaction and the level of trust between the parties involved.

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How Do Quitclaim Deeds Work in Arkansas?

Laws surrounding quitclaim deeds are found in Chapter 18 of the Arkansas Code titled Property.

In Arkansas, to transfer property using a quitclaim deed, there must be a statement indicating that the Grantor intends to “grant, convey, and quitclaim” the property to the Grantee. Words such as “sell” and “bargain” are considered to imply warranty, and are avoided in quitclaims in Arkansas.

Once prepared, the quitclaim deed must be recorded in the Office of the Circuit Clerk in the county where the property is located..

Can You Prepare Your Own Quitclaim Deed in Arkansas?

You can prepare your own quitclaim deed in Arkansas. A professional drafter is not legally required.

If a drafter prepares the deed, their name and address must be included on the first page of the deed.

Arkansas Quitclaim Deed Requirements

For the quitclaim deed to be legally valid in Arkansas, the deed must follow certain state-specific rules.

Formatting Requirements

Formatting requirements for quitclaim deeds in Arkansas include:

1. Paper size: 8.5 x 11 inches.

2. Margins:

  • 2.5-inch top right
  • 0.5-inch sides and bottoms on each page
  • The last page must have a 2.5-inch bottom margin.

3. Include space for the recorder on the top right of the first page.

    Content Requirements

    Content requirements for quitclaim deeds in Arkansas include:

    1. Grantor’s name and address.
    2. Grantee’s name and address.
    3. Include the deed title “Quitclaim.”
    4. The preparer’s name and address must be on the first page.
    5. Return name and address.
    6. Consideration (the price paid) should be mentioned on the first page.
    7. Granting clause – a statement describing the transfer the parties have agreed to.
    8. The property’s address.
    9. Property’s legal description.
    10. Confirmation of tax payment.

    The Grantee must confirm the tax status of the deed with one of the following:

    1. The deed includes the required amount in documentary stamps.
    2. The deed includes confirmation of tax paid.
    3. A statement confirming the basis of tax exemption.

    Who Signs a Quitclaim Deed in Arkansas?

    For a quitclaim deed to be legally valid in Arkansas, it must be signed by the Grantor.

    If the Grantor is married and the property is a homestead, both spouses must sign the deed. Even if the property is owned only by one spouse, the non-owner spouse must waive their rights by signing a waiver.

    A notary and two witnesses must authenticate the Grantor’s signature.

    How to File a Quitclaim Deed in Arkansas

    Here’s how to file a quitclaim deed in Arkansas:

    1. Prepare the quitclaim deed with the information required.
    2. Ensure all taxes and fees are paid; complete the transfer tax certification.
    3. The Grantee must sign and submit a Real Property Tax Affidavit of Compliance form when filing a deed with the county recorder.
    4. Ensure the Grantor signs the quitclaim deed in the presence of a notary and two disinterested witnesses.
    5. File the quitclaim deed at the Office of the Circuit Clerk in the county where the property is located.

    How Much Does it Cost to File a Quitclaim Deed in Arkansas?

    The fee structure to file a quitclaim deed in Arkansas is as follows:

    • $15 for the first page, one side only (A two-sided printed deed counts as two pages).
    • $5 for each additional page.

    What Taxes Are Owed on Quitclaim Deeds in Arkansas?

    The transfer of property through a quitclaim deed triggers the following tax in Arkansas: Real Property Transfer Tax.

    • The tax rate is $3.30 per $1,000 of actual consideration for transactions that exceed $100.
    • This tax applies to deeds, instruments, or writings that transfer or convey lands, tenements, or other real property.

    In Arkansas, many transfers that are generally filed under quitclaim deeds are tax-exempt, including:

    1. Real estate transfers valued at less than $100
    2. Deeds for debt security.
    3. Corrective or replacement deeds.
    4. Leasehold interest transfer deeds.
    5. Divorce property division deeds.
    6. Business entity deeds (corporations, LLCs).

    Federal tax rules may also apply to Arkansas quitclaim deeds.

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    How Long Does a Quitclaim Deed Take to be Recorded in Arkansas?

    The length of time to record a quitclaim deed in Arkansas depends on the processes, procedures, and population of each county. It can range anywhere from a few days to a few weeks.

    What Happens After a Quitclaim Deed is Recorded in Arkansas?

    In Arkansas, once the quitclaim deed is signed and filed, the county will process the document.

    If the deed is clear of any previous filings, the transfer of the property’s ownership will be made public.

    How Long Are Quitclaim Deeds Valid For in Arkansas?

    There is no expiration for quitclaim deeds in Arkansas. However, the statute of limitations for breaching a written contract in Arkansas is 5 years.

    Sources

    Quitclaim Deed Form in Other States