What is a Quitclaim Deed in Missouri?
In Missouri, 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 Missouri.
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 Missouri?
The main difference between quitclaim deeds and warranty deeds in Missouri 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 Missouri. Quitclaim deeds, on the other hand, are used for transfers between family and friends.
How Do Quitclaim Deeds Work in Missouri?
Laws surrounding quitclaim deeds are found in Chapter 442 (Title XXIX) of the Missouri Statutes titled Titles and Conveyance of Real Estate.
A quitclaim deed in Missouri must state that the Grantor intends to “remise and quitclaim” their interest in the property to the Grantee. Words such as “grant, bargain, and sell” are considered to imply warranty and are avoided in Missouri quitclaim deeds.
Once prepared, the quitclaim deed must be filed with the County Recorder’s Office.
Can You Prepare Your Own Quitclaim Deed in Missouri?
You can prepare your own quitclaim deed in Missouri. A professional drafter is not legally required.
Missouri Quitclaim Deed Requirements
For a quitclaim to be legally valid in Missouri, the deed must follow certain state-specific rules.
Formatting requirements for quitclaim deeds in Missouri include:
- Paper size: letter (8.5 x 11).
- Paper color: white or light-color.
- Font size: minimum 8-point.
- Font color: black or dark ink.
- Printed on one side only.
- No permanent binding (staples acceptable).
- 3-inch top margin on first page for Recorder’s use
- 3/4-inch margins on remaining sides and pages
Content requirements for quitclaim deeds in Missouri include:
1. Grantor’s name and address.
2. Grantee’s name and address.
3. Grantor’s marital status.
4. The title is “Quitclaim Deed.”
5. Date of the document.
6. Property’s addresses.
7. Legal description of the property including one or more of the following.
- Include block, plat number, plat book, and page of recorded plat.
- Metes and bounds description (with acreage).
- Quarter or quarter section and township.
- Book-and-page number of a previously recorded instrument describing the property.
8. Non-English deeds must include a sworn translation.
Who Signs a Quitclaim Deed in Missouri?
For a quitclaim deed to be legally valid in Missouri, it must be signed by the Grantor. The Grantor’s signature must be acknowledged before a notary. In St. Louis, Missouri the Grantee must sign the deed as well.
If the property is a homestead, both spouses must sign the quitclaim deed. Alternatively, a waiver of homestead rights can be attached.
The notarization can be completed online but the notary must be located within the state of Missouri.
How to File a Quitclaim Deed in Missouri
Here’s how to file a quitclaim deed in Missouri:
- Prepare the quitclaim deed with the information required.
- Once the quitclaim deed is signed, ensure that it is acknowledged by the Grantor before a notary.
- If the property is located in St. Louis, Missouri, ensure that the Grantee has signed the deed.
- File the quitclaim deed, along with the relevant information with the County Recorder’s Office.
How Much Does it Cost to File a Quitclaim Deed in Missouri?
In Missouri, the minimum charges for filing a deed are as follows:
- $5 for the first page.
- $3 for each additional page.
However, the actual filing fees charged by counties can vary and are often higher. For instance, Cole County charges $24 for the first page, while Jackson County charges $21.
What Taxes Are Owed on Quitclaim Deeds in Missouri?
In Missouri, property transfers, including quitclaim deeds, are not subject to transfer taxes. However, annual real estate 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 Missouri?
Recording a quitclaim deed in Missouri can take anywhere from a few days to a few weeks. The length of time can vary significantly based on county-specific processes, procedures, and population.
What Happens After a Quitclaim Deed is Recorded in Missouri?
In Missouri, once the quitclaim deed is signed and filed, the county will process the document. If the deed is clear of any previous filings, a public record of the transfer of the property’s ownership will be made official.
How Long Are Quitclaim Deeds Valid For in Missouri?
There is no expiration for quitclaim deeds in Missouri. However, the statute of limitations for lawsuits related to property based on written agreements is 10 years.