What is a Quitclaim Deed in Nevada?
In Nevada, 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 Nevada.
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 Nevada?
The main difference between quitclaim deeds and warranty deeds in Nevada 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 Nevada. Quitclaim deeds, on the other hand, are used for transfers between family and friends.
How Do Quitclaim Deeds Work in Nevada?
Laws surrounding quitclaim deeds are found under Title 10, Chapter 111 of the Nevada Revised Statutes, titled Estates in Property; Conveyancing and Recording.
Quitclaim deeds in Nevada must state that the Grantor intends to “convey and quitclaim” the property to the Grantor. The terms “grant, bargain, and sell,” are avoided as it implies warranty in Nevada.
Once prepared, the quitclaim deed must be filed at the Office of the Recorder in the county where the property is located.
Can You Prepare Your Own Quitclaim Deed in Nevada?
You can prepare your own quitclaim deed in Nevada. A professional drafter is not legally required.
Nevada Quitclaim Deed Requirements
For the quitclaim deed to be legally valid in Nevada, it must follow certain state-specific rules.
Formatting Requirements
Formatting requirements for quitclaim deeds in Nevada include:
- Paper: letter size (8.5 x 14); 20lb white.
- Text: minimum 10-point Maximum 9 lines of text per vertical inch.
- Font: Times New Roman; black ink only.
- Margin: 3 x 3-inch space on top right of first page, all other pages must have a 1-inch margin on top.
- No binding allowed.
- Printed on one side only.
- No highlighting or markings are allowed.
Content Requirements
Content requirements for quitclaim deeds in Nevada include:
- Grantor’s name and address.
- Grantee’s name and address on the top left corner of the first page.
- Name and address of the person requesting the recording of the deed on the top left corner of the first page.
- Assessor’s parcel number on the top left corner of the first page.
- Return name and address.
- Name and address for tax statements.
- The title “Quitclaim Deed.”
- Property address.
- Property’s homestead status.
- Property legal description.
- If the quitclaim deed has a “metes and bounds” legal description, then it must include the name and mailing address of the person who prepared the description.
- If the quitclaim deed is using a legal description that has been recorded previously, then provide information to identify the previous recording (book number, page number, date, etc.).
- 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 Nevada?
For a quitclaim deed to be legally valid in Nevada, it must be signed by the Grantor. The Grantor’s signature must be acknowledged by a notary public.
If the property is registered as a homestead or if it was purchased after marriage, then both spouses must sign the quitclaim deed as Grantors. Alternatively, a spousal waiver of rights may be signed and attached to the document.
How to File a Quitclaim Deed in Nevada
Here’s how to file a quitclaim deed in Nevada:
- Prepare the quitclaim deed with the required information.
- Declaration of Value.
- Individuals cannot include personal information about a person in documents submitted to a governmental agency unless specified by statute.
- A statement confirming that there has not been any personal information must be included with the deed.
- If personal information has been included, then the statute that permits this must be included.
- Cover Page.
- Most counties require a recording cover page to accompany the deed.
- The page should contain the following information: Assessor’s Parcel Number (APN), the title as Quitclaim, recording requested by (name), return information, name, and mailing address for tax statements, and a statement confirming that there is no personal information in the document.
- Once prepared, the quitclaim deed must be filed at the Office of the Recorder in the county where the property is located.
How Much Does it Cost to File a Quitclaim Deed in Nevada?
- In Nevada, the fees charged for filing a quitclaim deed are as follows:
- Base recording fee $25
- The following recording fees are allowed by Nevada law and may be added to the base fee depending on the county:
- Additional recording fee, varying documents – $5-$7
- Fee for county allocations- $6
- Copying fee – $6
- Fee for legal services program -$5
- Nevada law allows counties to levy additional recording fees. The exact recording fee varies by county but is typically between $42 and $44.
What Taxes Are Owed on Quitclaim Deeds in Nevada?
In Nevada, the transfer of property using a quitclaim deed triggers real estate transfer tax levied as follows:
- For counties with over 700,000 population, the tax rate per $500 is $2.55. This rate is inclusive of the following:
- Base tax $1.25
- Additional tax $1.30
- For countries with less than 700,000 population, the tax rate per $500 is $2.05. This rate is inclusive of the following:
- Base tax $0.65
- Additional tax $1.30
- Local Government tax (optional ordinance) – 10 cents
- Many transfers that are generally filed under quitclaim deeds are exempt from Nevada Transfer Tax, including:
- Transfer of real property between closely related individuals.
- Transfer of title between former spouses as per a divorce decree.
- Transfer of title without consideration between joint tenants or tenants in common.
- Transfers for no consideration, and less than $100.
How Long Does a Quitclaim Deed Take to be Recorded in Nevada?
The time it takes to record a quitclaim deed in Nevada varies based on the county and its workload; however, most offices will process the deed within 3-4 business days. Deeds submitted electronically through Nevada’s Land Records and the Electronic Services System will be processed within a single business day.
What Happens After a Quitclaim Deed is Recorded in Nevada?
When a quitclaim deed is presented at the county Recorder’s Office, it undergoes a compliance check. The Office then stamps the deed with indexing information, scans it, and adds it to the county’s electronic land record archive.
Most counties in Nevada provide a Recording Notification Service, which allows the Grantor/Grantee to sign up to receive a notification when the property record is publicly updated.
How Long Are Quitclaim Deeds Valid For in Nevada?
There is no expiration for quitclaim deeds in Nevada. However, the time frame to challenge the ownership of a Nevada property and regain title is 5 years.
Sources
- 1 Nev. Admin Code 375.100
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“Quitclaim deed” defined. “Quitclaim deed” means a deed of conveyance operating by way of release, that is, intended to pass any title, interest or claim which the grantor may have in the premises, but not professing that the title is valid nor containing any warranty or covenants for title.
Source Link - 2 NRS 111.170
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Construction of words “grant, bargain and sell” in conveyances; suit upon covenants. The words “grant, bargain and sell” in all conveyances made after December 2, 1861, in and by which any estate of inheritance or fee simple is to be passed..
Source Link - 3 NRS 111.315
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Recording of conveyances and instruments.. Every conveyance of real property, and every instrument of writing setting forth an agreement to convey any real property, or whereby any real property may be affected… to operate as notice to third persons, shall be recorded in the office of the recorder of the county in which the real property is situated..
Source Link - 4 NRS 247.110 (3)
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Except as otherwise provided in this section.. a document.. that is submitted for recording must be.. Be on white, 20-pound paper that is 8 1/2 inches by 11 inches in size.. Have a margin of 1 inch on the left and right sides and at the bottom of each page… Have a space of 3 inches by 3 inches at the upper right corner of the first page and have a margin of 1 inch at the top of each succeeding page.
Source Link - 5 Content Requirements
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I. NRS 247.150 (2)
Each of the indexes must be so arranged as to show… The names of each of the parties to each document except as otherwise provided in subsection..
II. NRS 111.312 (1)(a-b)Requirements for recording certain documents relating to real property. (a)The mailing address of the grantee or, if there is no grantee, the mailing address of the person who is requesting the recording of the document…the assessor’s parcel number of the property at the top left corner of the first page of the document…
- 6 NRS 111.312 (5)(6)
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(5) ..if a document that is being recorded includes a legal description of real property that is provided in metes and bounds, the document must include the name and mailing address of the person who prepared the legal description..(6)..If a document.. has been recorded, the document must include all information necessary to identify and locate the previous recording, but the name and mailing address of the person who prepared the legal description is not required..
Source Link - 7 Acknowlegement
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I. NRS 111.240
Acknowledgment of conveyances. Every conveyance in writing whereby any real property is conveyed or may be affected must be acknowledged or proved and certified..
II. NRS 111.265
Persons authorized to take acknowledgment or proof within State. The proof or acknowledgment of every conveyance affecting any real property, if acknowledged or proved within this State, must be taken by one of the following persons: 1.A judge or a clerk of a court having a seal. 2.A notary public.3. A justice of the peace.
- 8 Homestead Rights
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I. NRS 115.040 (1)(2)
(1)A mortgage or alienation of any kind.. upon the homestead property, is not valid for any purpose, unless the signature of both spouses .. and their signatures are properly acknowledged. (2) The homestead property shall not be deemed to be abandoned without a declaration thereof in writing, signed..
II.NRS 123.220
All property… acquired after marriage by either spouse or both spouses, is community property unless otherwise provided by: 1) An agreement in writing between the spouses. 2) A decree of separate maintenance issued by a court of competent jurisdiction.
III. NRS 123.230
A spouse may, by written power of attorney, give to the other the complete power to sell, convey or encumber any property held as community property … Neither spouse may devise or bequeath more than one-half of the community property… Neither spouse may make a gift of community property without the express or implied consent of the other… Neither spouse may sell, convey or encumber the community real property unless both join in the execution of the deed..
- 9 NRS 375.060
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Declaration of value of property. 1.Each deed evidencing a transfer of title of real property or land sale installment contract that is presented for recordation to the county recorder must be accompanied by a declaration of value made on a form prescribed by the Nevada Tax Commission.
Source Link - 10 NRS 239B.030
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“…, a person shall not include and a governmental agency shall not require a person to include any personal information about a person on any document that is recorded, filed… If personal information about a person is required to be included in a document that is recorded, filed or otherwise submitted to a governmental agency…”
Source Link - 11 NRS 247.305(1)
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Fees: Amount; collection; disposition of excess payment; payment to county treasurer. 1.If another statute specifies the fee to be charged for a service, county recorders shall charge and collect only the fee specified… county recorders shall charge and collect the
Following fees: For recording a document.. $25.
Source Link - 12 Additional Fees
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(I) NRS 247.305 (2-6)
(2)Except as otherwise provided in this subsection and NRS 375.060, a county recorder may charge and collect, in addition to any fee that a county recorder is otherwise authorized to charge and collect, an additional fee not to exceed $5 for recording a document..deed, conveyance, map, chart, survey or any other writing.
(II) NRS 375.060
“…Each deed evidencing a transfer of title of real property or land sale installment contract that is presented for recordation to the county recorder must be accompanied by a declaration of value made on a form prescribed by the Nevada Tax Commission…”
- 13 County Fees
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(I) Clark County, NV -Fee Schedule
Office of the County Recorder
Fee Per Document – $42
(II) Washoe County, NV – Schedule of Fees
General Document Recording Fee – $43.00 per document
Subdivision/Tract Map – $68.00; Parcel Map – $35.00; Survey Map – $35.00;Land Map $68.00; Each additional page on all maps $10.00
- 14 Tax - Population over 700,000
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(I) NRS 375.020
Imposition and rate of tax. 1.A tax, at the rate of: (a) In a county whose population is 700,000 or more, $1.25; and (b) In a county whose population is less than 700,000, 65 cents, Ê for each $500 of value or fraction thereof, is hereby imposed on each deed by which any lands, tenements or other realty is granted, assigned, transferred… if the consideration or value of the interest or property conveyed exceeds $100.
(II) NRS 375.023
1.In addition to all other taxes imposed on transfers of real property, a tax, at the rate of $1.30 on each $500 of value or fraction thereof, is hereby imposed on each deed by which any lands.. realty is granted, assigned, transferred or otherwise conveyed to, or vested in, another person, or land sale installment contract, if the consideration or value of the interest or property conveyed exceeds $100.
- 15 Tax - Population below 700,000
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(I) Local Government Tax Act Of 1991
Sec. 32: Certain counties and Carson City authorized to impose tax on transfer of real property; requirements of ordinance imposing tax… Except as otherwise provided in section 34 of this act and in addition to all other taxes imposed on transfers of real property… impose a tax at the rate of up to 10 cents for each $500 of value or fraction thereof on each deed by which any lands…
(II) NRS 375.026
Optional imposition of additional tax in certain counties; rate and collection of tax; disposition and use of proceeds….In addition to all other taxes imposed on transfers of real property, the board of county commissioners of a county whose population is less than 700,000 may impose a tax at the rate of up to 5 cents for each $500 of value..
- 16 NRS 375.090
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Exemptions. The taxes imposed by NRS 375.020, 375.023 and 375.026 do not apply to.. A mere change in identity, form or place of organization.. A transfer of title without consideration from one joint tenant or tenant in common to one or more remaining joint tenants or tenants in common… A transfer, assignment or other conveyance of real property if the owner of the property is related to the person to whom it is conveyed within the first degree of lineal consanguinity or affinity..
Source Link - 17 NRS 11.080
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Seisin within 5 years; when necessary in action for real property. No action for the recovery of real property, or for the recovery of the possession thereof other than mining claims, shall be maintained, unless it appears that the plaintiff or the plaintiff’s ancestor, predecessor or grantor was seized or possessed of the premises in question, within 5 years before the commencement thereof.
Source Link
