What is a Quitclaim Deed in New Hampshire?
In New Hampshire, quitclaim deeds are a quick way to transfer property from an owner (‘Grantor’) to a new owner (‘Grantee’) without providing a complete guarantee on the property’s title. Quitclaim deeds in New Hampshire include a limited warranty, as the Grantor promises to defend the title against claims that arose while they owned the property.
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 New Hampshire?
The main difference between quitclaim deeds and warranty deeds in New Hampshire is that a quitclaim deed provides less security to the Grantee.
Warranty deeds ensure the Grantor’s complete ownership of the property, free from any title issues throughout its history. In contrast, a quitclaim deed only guarantees the title during the limited period of the Grantor’s ownership.
Warranty deeds are mostly used for real estate transactions in New Hampshire.
How Do Quitclaim Deeds Work in New Hampshire?
Laws surrounding quitclaim deeds are found in Chapter 477 of the New Hampshire Revised Statutes titled Conveyances of Realty and Interests Therein.
New Hampshire laws provide sample language for a quitclaim deed. It must state that the Grantor intends to “grant and release… with quitclaim covenants.. all rights of homestead and other interests therein..”
Once prepared, the quitclaim deed must be filed at the Register of Deeds in the county where the property is located.
Can You Prepare Your Own Quitclaim Deed in New Hampshire?
You can prepare your own quitclaim deed in New Hampshire. A professional drafter is not legally required.
The name and address of the individual who prepared the deed, however, must be mentioned under “Prepared by.”
New Hampshire Quitclaim Deed Requirements
For a quitclaim to be legally valid in New Hampshire, the deed must follow certain state-specific rules.
Formatting Requirements
Formatting requirements for quitclaim deeds in New Hampshire include:
- Paper size: must be between 8.5 x 11 (letter) 8.5x 14 (legal).
- Paper quality: 20lbs; white color only.
- Font: Times New Roman; minimum size 10-point type.
- Text: Must be “clear” and “reproducible”.
- Margins should be as follows:
- The left side of a 3-inch margin on top of the first page is required for official use.
- The right side of the 3-inch first page margin can be used for administrative content (ex: return address)
- All remaining margins on all pages and sides should be 1 inch.
- Non-textual material, such as page numbering or document information, can be on the bottom margins, however, they must be at least 0.5 inch from the bottom of the page.
- Single-side print only.
- No permanent binding.
- No highlighting allowed.
Content Requirements
Remaining content requirements for quitclaim deeds in New Hampshire include:
- The Grantor’s name and address.
- The Grantee’s name and address.
- The Grantor’s marital status, and spouse’s name (if any).
- The Grantee’s marital status, and spouse’s name (if any)
- Return name and address.
- Preparer’s name and address.
- The title “Quitclaim.”
- The property address.
- Property’s legal description.
- The first sentence of the description paragraph must list the names of all municipalities in which the property is located.
- 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.
- The first sentence of the description paragraph must list the names of all municipalities in which the property is located.
- Granting clause – a statement describing the transfer the parties have agreed to.
- Consideration – the value or the amount of money exchanged.
Who Signs a Quitclaim Deed in New Hampshire?
For a quitclaim deed to be legally valid in New Hampshire, it must be signed by the Grantor. The Grantor must sign and execute the deed before a notary public, justice or commissioner.
If the Grantor is married, or if the property is 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 New Hampshire
Here’s how to file a quitclaim deed in New Hampshire:
- Prepare the quitclaim deed with the required information.
- Real Estate Transfer Tax Declaration of Consideration.
- A Real Estate Transfer Tax Declaration of Consideration must be filed with the NH Department of Revenue Administration when transferring property with a quitclaim deed.
- Both Grantor and Grantee are required to fill out separate forms:
- Separate forms are required to be filled out by business entities and are available at the Department of Revenue.
- Inventory of Property Transfer Form.
- The Grantee must file an Inventory of Property Transfer (Form PA-34) within 30 days of the transfer.
- The Form must be filed with the Department of Revenue Administration; and a copy must also be submitted at the Revenue Office in the municipality where the property is located.
- Ensure the Grantor signs and executes the quitclaim deed before a notary public, justice or commissioner.
- Finally, the quitclaim deed must be filed at the Register of Deeds in the county where the property is located.
How Much Does it Cost to File a Quitclaim Deed in New Hampshire?
In New Hampshire, the minimum charges for filing a quitclaim deed are as follows:
- Recording fee for first page – $10.
- Fee for each additional page -$4.
- Additional fee for recording deeds, mortgages or plans – $25
- Fee for recording maps or plans – $9 – $26.
What Taxes Are Owed on Quitclaim Deeds in New Hampshire?
In New Hampshire, the transfer of property using a quitclaim deed triggers the following tax:
- New Hampshire Real Estate Transfer Tax:
- Tax rate: $0.75 per $100, or fractional part thereof.
- Minimum tax of $20 if the price or consideration is $4,000 or less.
- Both the Grantor and Grantee are typically responsible for payment.
- Many transfers that are generally filed under quitclaim deeds are exempt from New Hampshire’s Property Transfer Tax, including:
- Correction deeds or instruments.
- Beneficiary of a partnership interest upon dissolution due to the death of a partner.
- Transfer of title between spouses pursuant to a final decree of divorce or nullity.
- Transfers between owners of an entity and the entity, provided no consideration is exchanged, and ownership percentages remain identical.
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 New Hampshire?
The time it takes to record a quitclaim deed in New Hampshire varies by county; however, most Register of Deeds offices process the document within a few business days or weeks.
What Happens After a Quitclaim Deed is Recorded in New Hampshire?
When a quitclaim deed is submitted to the county Register of Deeds, it undergoes an initial check to ensure compliance with regulations. If the deed is clear of any previous filings, the document is stamped, indexed by assigning a book and page number, and entered into the state system of records.
Finally, the original deed is mailed back to the address on file, and a public record of the transfer of the property’s ownership is officially established.
How Long Are Quitclaim Deeds Valid For in New Hampshire?
There is no expiration for quitclaim deeds in New Hampshire. However, the statute of limitations for a breach of a written contract is 20 years.
Sources
- 1 NH Rev. Stat. § 477:28
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..A deed ..when duly executed and delivered, have the force and effect of a deed in fee simple to the grantee, heirs, successors and assigns, to their own use, with covenants on the part of the grantor, for himself …that at the time of the delivery of such deed the premises were free from all incumbrances made by the grantor.. and that the grantor will… warrant and defend the same to the grantee… against the lawful claims and demands of all persons claiming, by, through or under the grantor..
Source Link - 2 NH Rev. Stat. § 477:27
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Warranty Deed.. A deed..when duly executed and delivered, have the force and effect of a deed in fee simple to the grantee.. with covenant on the part of the grantor.. that, at the time of the delivery of such deed, the grantor was lawfully seized in fee simple of the granted premises, that the said premises were free from all incumbrances.. that the grantor had good right to sell and convey the same to the grantee..
Source Link - 3 NH Rev. Stat. § 477:28
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Statutory Form of Quitclaim Deed… for consideration paid, grant to.. with quitclaim covenants, the __________ (Description of land or interest therein being conveyed: incumbrances, exceptions, reservations, if any) __________ , (wife) (husband) of said grantor, release to said grantee all rights of homestead and other interests therein.
Source Link - 4 NH Rev. Stat. § 477:3-a
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Recording. Every deed or other conveyance of real estate and every court order or other instrument which affects title to any interest in real estate.. shall be recorded at length in the registry of deeds for the county or counties in which the real estate lies..
Source Link - 5 Recordation
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I. NH Rev. Stat. § 478:4-a (II)
Form of Records. –II. All documents shall be suitable for reproduction as determined by the register of deeds, who shall provide document standards as amended and adopted by the New Hampshire registers of deeds. The standards and any amendments thereto shall include a statement of their effective date, and shall be posted in and distributed by all registries of deeds for at least 60 days prior to such effective date.
II. NH County Register of Deeds – Carroll County
National Recording Standards – Uniform Standards For Documents Presented For Recording In All New Hampshire Registries of Deeds Effective December 1, 2001 Pursuant to RSA 478:4-a, II, these document standards have been adopted by the New Hampshire Registers of Deeds, to be effective as of December 1, 2001.
- 6 NH Rev. Stat. § 478:4-a (I)
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Form of Records. –I. The register of deeds shall not accept a deed or instrument for filing and recording unless it recites the following information: (a) The latest mailing address of the grantees named in the deed or instrument.. The name of each person signing the deed or instrument as a party to the transaction printed or typewritten under the signature.
Source Link - 7 NH Rev. Stat. § 478:4-a (I)(b)
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478:4-a Form of Records. –I. (b) In the first sentence of the first description paragraph, the names of all municipalities in which the property is located;
Source Link - 8 NH Rev. Stat. § 477:3
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Execution – Every deed or other conveyance of real estate shall be signed by the party granting the same and acknowledged by the grantor before a justice, notary public or commissioner and shall show the mailing address of the grantee.
Source Link - 9 NH Rev. Stat. § 480:5-a
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Encumbering. – No deed shall convey or encumber the homestead right, except a mortgage made at the time of purchase to secure payment of the purchase money, unless it is executed by the owner and wife or husband, if any, with the formalities required for the conveyance of land.
Source Link - 10 NH Administrative Code R. Rev 809.04
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Form CD-57-P “Real Estate Transfer Tax Declaration of Consideration Real Estate Purchaser (Grantee)” and Form CD-57-S, Real Estate Transfer Tax Declaration of Consideration Real Estate Seller (Grantor) (a) The purchaser, grantee.. file a Form CD-57-P and the seller, grantor, assignor..
Source Link - 11 NH Rev. Stat. § 74:18
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Inventory of Property Transfers. I. In order to properly equalize the value of property.. an inventory of property transfers shall be filed with the department of revenue administration and with the municipality where the property is located for each transfer of real estate or interest in real estate…The buyer’s dated signature certifying that the information indicated on the form is true.
Source Link - 12 NH Rev. Stat. § 478:17-g
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The register of deeds in each county shall be entitled to the following fees.. I. The charge for recording each document shall be $10 for the first recorded page plus $4 for each additional recorded page…. An additional charge of $25 shall also be assessed for recording each deed…
Source Link - 13 NH Rev. Stat. § 78-B:1
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Transfer Tax. I. (a) A tax is imposed upon the sale, granting and transfer of real estate and any interest therein including transfers by operation of law. … (b) The rate of the tax is $.75 per $100, or fractional part thereof, of the price or consideration for such sale, grant, or transfer; except that where the price or consideration is $4,000 or less there shall be a minimum tax of $20.
Source Link - 14 NH Rev. Stat. § 78-B:2
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Exceptions. The tax imposed by this chapter shall not apply… To a deed or other instrument which corrects a deed or other instrument previously given…to the beneficiary of a partnership interest where the partnership dissolves by operation of law due to the death of a partner… to a transfer of title between spouses pursuant to a final decree of divorce or nullity.
Source Link - 15 NH Rev. Stat. § 508:5
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Actions of debt upon judgments, recognizances, and contracts under seal may be brought within 20 years after the cause of action accrued, and not afterward.
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