What is a Quitclaim Deed in Idaho?
In Idaho, 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 Idaho.
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 Idaho?
The main difference between quitclaim deeds and warranty deeds in Idaho 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 Idaho. Quitclaim deeds, on the other hand, are used for transfers between family and friends.
How Do Quitclaim Deeds Work in Idaho?
Laws surrounding quitclaim deeds are found under Title 55 of the Idaho Statutes, titled Property in General.
Quitclaim deeds in Idaho must state that the Grantor intends to “quitclaim” the property to the Grantee. The term “grant” is not used in an Idaho quitclaim deed as it implies warranty.
Once prepared, the quitclaim deed must be filed at the Recorder’s Office in the county where the property is located.
Can You Prepare Your Own Quitclaim Deed in Idaho?
You can prepare your own quitclaim deed in Idaho. A professional drafter is not legally required.
Idaho Quitclaim Deed Requirements
Formatting standards in Idaho have been standardized through both statute and county processes, which have been uniformly adopted and standardized throughout the state.
Formatting Requirements
Formatting requirements for quitclaim deeds in Idaho include:
- Paper: maximum size 8.5x 14 (legal).
- Font: minimum size 10.
- Text: color must be dark and clearly reproducible.
- Margins: leave 3 inches on top of the first page for official use.
Content Requirements
Content requirements for quitclaim deeds in Idaho include:
- The Grantor’s name and address.
- The Grantee’s name and address.
- Grantor’s marital status.
- Return name and address.
- Name of person requesting recordation.
- The title “Quitclaim.”
- The deed must be in English or accompanied by a certified translation.
- The property address.
- Property’s homestead status.
- Property’s legal description.
- The property description must contain the proper descriptors, including metes and bounds such as section, township, and range, subdivision, each different tract, unit, or block.
- If a secondary document is referenced, information such as the date registered, the book, page, and registration numbers must be mentioned on the deed.
- Granting clause – a statement describing the transfer the parties have agreed to.
- Consideration clause – the value or the amount of money exchanged.
Who Signs a Quitclaim Deed in Idaho?
For a quitclaim deed to be legally valid in Idaho, it must be signed by the Grantor. The Grantor’s signature must be acknowledged by a notary public.
If the Grantor is married, or if the property is registered as a homestead, both spouses must sign the quitclaim deed. Alternatively, a spousal waiver of homestead rights can be signed and attached.
How to File a Quitclaim Deed in Idaho
Here’s how to file a quitclaim deed in Idaho:
- Prepare the quitclaim deed with the required information.
- Idaho Residential Real Estate Disclosure.
- All quitclaim deeds used for the sale and transfer of residential real estate ownership must be accompanied by an Idaho Property Disclosure Statement.
- Many transfers generally filed under quitclaim deeds are exempt from the requirement to file the Disclosure, including:
- Transfers between co-owners.
- Transfers to a spouse or lineal descendant.
- Transfer between spouses due to divorce or separation.
- Transfer to a person who lived in the property for at least one year.
- Transfer from a non-resident owner who inherited the property.
- Once the quitclaim deed is executed, ensure the Grantor’s signature is acknowledged before a notary public.
- Finally, submit the quitclaim deed at the Recorder’s Office in the county where the property is located.
How Much Does it Cost to File a Quitclaim Deed in Idaho?
In Idaho, the minimum charges for filing a quitclaim deed are as follows:
- Base fee for the first 30 pages: $15.
- Each additional page: $3.
- Fee for recording a map or plat:$11.
- Fee for recording a survey (per page): $5.
What Taxes Are Owed on Quitclaim Deeds in Idaho?
In Idaho, property transfers, including transfers through quitclaim deeds, are not subject to real estate transfer taxes. However, annual property taxes may still apply.
Moreover, federal taxes such as Gift Tax and Capital Gains Tax may also be applicable.
How Long Does a Quitclaim Deed Take to be Recorded in Idaho?
The time it takes to record a quitclaim deed in Idaho varies based on the county, however, most offices process the deed within seven to ten business days.
What Happens After a Quitclaim Deed is Recorded in Idaho?
When a quitclaim deed is submitted to the county Recorder’s Office, it undergoes an initial check to ensure the accuracy of the necessary information. Once verified, the deed is endorsed, indexed, and recorded in the county’s reception book. The document is then scanned and entered into the state system of records. Finally, the original documents are returned to the customer.
How Long Are Quitclaim Deeds Valid For in Idaho?
There is no expiration for quitclaim deeds in Idaho. However, the statute of limitations to recover property in Idaho is 4 years.
Sources
- 1 Idaho Code § 55-612
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Covenants Implied from Grant. From the use of the word “grant” in any conveyance by which an estate of inheritance, possessory right, or fee simple is to be passed, the following covenants, and none other, on the part of the grantor, for himself and his heirs, to the grantee, his heirs and assigns..
- 2 I.C. § 55-808.
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Place of Record. Instruments entitled to be recorded must be recorded by the county recorder of the county in which the real property affected thereby is situated.
Source Link - 3 Formatting Requirements
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I. I.C. § 31-3205 (6)
A page shall not exceed fourteen (14) inches in length nor eight and one-half (8 1/2) inches in width. Each page shall be typewritten or be in legible writing…
II. Blaine County, ID – Recording Requirements
Must be space on one of the pages for a 2-inch by 3-inch Recorder’s stamp preferably on the Top Right Corner… Legal description of property is required… If the documents are computer generated, print should be no smaller than typewriter 10 pitch..
III. Bonner County, ID – Recording Requirements
Bonner county requires a three (3) inch margin across the entire top of the first page of each document..If the document is relating to another document, please include the instrument number or numbers of the original document(s), so that they can be cross-referenced.
- 4 Content Requirements
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There shall be provided by the county recorder of each county … immediately after numbering, all instruments, papers or notices authorized by law to be recorded… the grantor, or person executing the instrument.. the grantee.. the character of the instrument..
II. I.C.§ 55-818.
Recording Of Summary Of Instrument — Effect…the names of the parties to the original instrument, the complete mailing address of the grantee, the title and date of the instrument, a description of the interest or interests in real property created by the instrument, and the legal description of the property…
- 5 I.C.§ 31-2410
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When any instrument, paper or notice, authorized by law to be recorded, is deposited in the recorder’s office for record, the recorder must endorse upon the same.. and the name of the person at whose request it was recorded.
Source Link - 6 I.C.§ 73-121 (3)
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..any document, certificate or instrument required to be filed, recorded or endorsed by any officer of this state, or of any county, city or district in this state, shall be in the English language or shall be accompanied by a certified translation in English..
Source Link - 7 I.C.§ 55-1007
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Conveyance Or Encumbrance By Husband And Wife. The homestead of a married person cannot be conveyed or encumbered unless the instrument by which it is conveyed or encumbered is executed and acknowledged by both husband and wife, except that a husband or a wife or both jointly may make and execute powers of attorney for the conveyance or encumbrance of the homestead.
Source Link - 8 I.C.§ 55-805
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Acknowledgment Necessary To Authorize Recording. (1) Before an instrument may be recorded, unless it is otherwise expressly provided, its execution must be acknowledged by the person executing.. (b) The validity of a notarial act complying with the provisions of chapter 1, title 51, Idaho Code..
Source Link - 9 I.C.§ 32-912
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Either the husband or the wife shall have the right to manage and control the community property… except that neither the husband nor wife may sell, convey or encumber the community real estate unless the other joins in executing the sale agreement.. the husband or wife may by express power of attorney give to the other the complete power to sell..
Source Link - 10 I.C.§ 55-2504
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Property Condition Disclosure Required. Any person who intends to transfer any residential real property, including nonowner occupied rental property.. shall complete all applicable items in a property disclosure form .. this chapter applies to any transfer by sale, exchange, installment sale contract, a lease with an option to purchase..
Source Link - 11 I.C.§ 55-2505
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Exemptions. The provisions of this chapter do not apply to any transfer of residential real property that is any of the following… A transfer made to the transferor’s spouse or to one (1) or more persons in the lineal line of consanguinity of one (1) or more of the transferors.. A transfer between spouses or former spouses as a result of a decree of divorce, dissolution of marriage, annulment, or legal separation..
Source Link - 12 I.C.§ 31-3205(1)(b)
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For recording each of the following types of instruments, provided such instrument is thirty (30) pages or less: (i) Deeds, grants and transfers of title to real property $15.00. For each additional page beyond thirty (30) pages for an instrument listed in this paragraph.. $3.00… For recording every town plat or map $11.00. For filing a survey, for each page $5.00
Source Link - 13 Statute of Limitations
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I. I.C.§ 5-224
Actions For Other Relief. An action for relief not hereinbefore provided for must be
commenced within four (4) years after the cause of action shall have accrued.
II. I.C.§ 6-401
Actions To Quiet Title. An action may be brought by any person against another who claims an estate or interest in real or personal property adverse to him, for the purpose of determining such adverse claim..
III. Brown Vs. Greenheart, Idaho Supreme Court, Op. No. 100 (2014)
Idaho Code section 6-401 provides. . . . Idaho’s catchall statute of limitations, “[a]n action for relief not hereinbefore provided for must be commenced within four (4) years after the cause of action shall have accrued. I.C. § 5-224.
