What is a Quitclaim Deed in Colorado?
In Colorado, 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 Colorado.
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 Colorado?
The main difference between quitclaim deeds and warranty deeds in Colorado 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 Colorado. Quitclaim deeds, on the other hand, are used for transfers between family and friends.
How Do Quitclaim Deeds Work in Colorado?
Laws surrounding quitclaim deeds are found in Title 38 of the Colorado Statute, titled Property Real and Personal.
Colorado laws provide the sample language to be used in a quitclaim deed. It must state that the Grantor intends to “quitclaim” the property to the Grantee. The term “convey” is not used in Colorado quitclaim deeds.
Once prepared, the quitclaim deed must be filed with the County Clerk’s Office.
Can You Prepare Your Own Quitclaim Deed in Colorado?
You can prepare your own quitclaim deed in Colorado. A professional drafter is not legally required.
Colorado Quitclaim Deed Requirements
For a quitclaim to be legally valid in Colorado, the deed must follow certain state-specific rules.
Formatting Requirements
Formatting requirements for quitclaim deeds in Colorado include:
- Paper should not exceed legal size (8.5 x 14).
- Text must be legible and photocopiable.
- Margins (minimum): top 1 inch; left, right, and bottom margins 0.5 inch.
Content Requirements
Content requirements for quitclaim deeds in Colorado include:
1. Grantor’s name and address.
2. Grantor’s marital status.
3. Grantee’s name and address.
4. The property address.
5. Property’s homestead status.
6. Property description.
If the description is from a recent survey, the name of the surveyor or creator of the description must be included.
7. Consideration clause – the value or the amount of money exchanged.
Who Signs a Quitclaim Deed in Colorado?
For a quitclaim deed to be legally valid in Colorado, it must be signed by the Grantor. If it is a marital property listed as a homestead, both spouses must sign the quitclaim deed, or they can attach a waiver of homestead rights.
The Grantor’s signature must be acknowledged before a notary or an authorized officer in the county where the property is located.
How to File a Quitclaim Deed in Colorado
Here’s how to file a quitclaim deed in Colorado:
- Prepare the quitclaim deed with the information required.
- Complete and submit a Transfer Declaration (TD-1000), required when submitting a Colorado real estate deed for recording
- Once the quitclaim deed is signed, ensure that the Grantor’s signature is acknowledged by a notary.
- File the quitclaim deed and the relevant information with the County Clerk’s Office.
How Much Does it Cost to File a Quitclaim Deed in Colorado?
In Colorado, the charges for filing a quitclaim deed are as follows:
1. Recording fees to be collected by the Recorder of Deeds:
- First Page $10
- Each additional page: $5
- Plats $10
- Surcharge per document $3
2. State Documentary Fees
- A Documentary Fee is charged for deeds transferring real estate valued over $500.
- The fee is assessed at $0.01 for each $100 paid for the property.
- Many transfers that are generally filed under quitclaim deeds are exempt from the Colorado Documentary fee, including:
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- Deeds confirming an existing deed
- Deeds resulting from property gifts.
- Deeds correcting previously recorded deeds.
- Deeds for no consideration (and transfers less than $500)
What Taxes Are Owed on Quitclaim Deeds in Colorado?
In Colorado, there is no tax levied on the transfer of property at the state level.
However, county and city transfer taxes may apply. For instance, in Aspen, Colorado, Real Estate Transfer Taxes (RETTs) are charged on the sale of real estate at rates of 0.5% and 0.1%.
How Long Does a Quitclaim Deed Take to be Recorded in Colorado?
The length of time it takes to record a quitclaim deed in Colorado can vary 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 Colorado?
If the document is prepared correctly, the Clerk’s Office will process the deed, provide a receipt, and include it in the county’s permanent public record. After digitizing and indexing, the deed will be returned to the address requested. Colorado law mandates that land survey and subdivision maps must be retained by the Clerk.
How Long Are Quitclaim Deeds Valid For in Colorado?
There is no expiration for quitclaim deeds in Colorado. However, the statute of limitations for breaching a personal contract is three years.
Sources
- 1 CO Rev. Stat. § 38-30-113(d)
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A deed for the conveyance of real property in substantially the following form that does not include words of warranty and with the word “quitclaim(s)” substituted for “convey(s)” is a quitclaim deed without covenants of warranty that passes no after-acquired title of the grantor..
Source Link - 2 CO Rev. Stat. § 38-30-113(1)(a)
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A deed for the conveyance of real property in substantially the following form and that includes the words “and warrant(s) the title to the same”, or substantially similar language, is a warranty deed with covenants of warranty..
Source Link - 3 CO Rev. Stat. § 38-35-106(1)
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(1) Any written instrument required or permitted to be acknowledged affecting title to real property… after being recorded in the office of the county clerk and recorder of the county where the real property is situate..
Source Link - 4 CO Rev. Stat. § 30-10-406.
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(I) CO Rev. Stat. § 30-10-406.
County clerk and recorder – duties – filing requirements. All documents received for recording or filing in the clerk and recorder’s office… shall contain a top margin of at least one inch and a left, right…
(II) El Paso County, CO; Recording
A page must be legal size (8 ½” x 14″) or less. Documents larger than 8 ½” x 14″ including subdivision plats are $10.00 per page plus a $3.00 surcharge for each document..
Source Link - 5 CO Rev. Stat. § 38-35-106.5
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…which contains a newly created legal description of real property shall include the name and address of the person who created such legal description…
Source Link - 6 CO Rev. Stat. § 38-35-118.
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Homestead.. (1) Except as provided in section 38-41-202 (3), to convey or encumber homesteaded property, the husband and wife, if the owner thereof is married..
Source Link - 7 CO Rev. Stat. § 38-30-126
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Acknowledgments, before whom taken (1) Deeds, bonds, and agreements in writing conveying lands or any interest therein, or affecting title thereto, may be acknowledged or proved before the following officers when executed within this state: (a) Any judge of any court of record, the clerk of any such court of record, or the deputy of any such clerk, such judge, clerk… (c) Any notary public, certifying the same under his notarial seal..
Source Link - 8 CO Rev. Stat. § 30-1-103.
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Fees of county clerk and recorders.(1) Fees collected by county clerk and recorders shall be as follows… the clerk shall receive ten dollars for the first page and five dollars for each additional page..
(II) CO Rev. Stat. § 30-10-421.
Filing surcharge..(b) Beginning July 1, 2004, and through December 31, 2026, the county clerk and recorder shall collect a surcharge of one dollar for each document received for recording or filing in his or her office..
(III) CO Rev. Stat. § 24-21-403
(2) In order to accomplish its business purpose, the board may impose an electronic filing surcharge of up to two dollars that is uniformly collected on all documents received by a county clerk and recorder for recording or filing on or after January 1, 2017, through April 30, 2026.
Source Link - 9 CO Rev. Stat. § 39-13-102
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Documentary fee imposed – amount – to whom payable. (1) There is imposed and shall be paid, by every person offering for recording in the office of the county clerk and recorder any deed … a fee, referred to in this article as “documentary fee”..
(b) When the total consideration paid by the purchaser.. paid for the making of such grant or conveyance exceeds five hundred dollars, the documentary fee payable shall be computed at the rate of one cent for each one hundred dollars, or major fraction thereof, of such consideration.
Source Link - 10 CO Rev. Stat. § 39-13-104
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Exemptions. (1) The documentary fee imposed in this article shall not apply to.. (b) Any deed granting or conveying title to real property in consequence of a gift of such property..
Source Link - 11 City of Aspen - Real Estate Transfer Taxes (RETTs)
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0.5% RETT: On May 8, 1978, voters were asked and supported a 0.5% real estate transfer tax.. This tax, which was first levied January 1, 1979, was originally adopted with a twenty-year sunset, but has been extended under voter approval through December 31, 2039. 1.0% RETT: City of Aspen voters additionally approved a 1.0% real estate transfer tax for the purpose of “addressing the issue of the current housing shortage..
Source Link - 12 CO Rev. Stat. § 13-80-101.
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General limitation of actions – three years. (1) The following civil actions, regardless of the theory upon which suit is brought, or against whom suit is brought, shall be commenced within three years after the cause of action accrues, and not thereafter: (a) All contract actions, including personal contracts..
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