What is a Quitclaim Deed in South Carolina?
In South Carolina, a quitclaim deed is used to transfer property from an owner (“Grantor”) to the 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 South Carolina.
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 South Carolina?
The main difference between quitclaim deeds and warranty deeds in South Carolina 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 South Carolina. Quitclaim deeds, on the other hand, are typically used for transfers between family and friends.
How Do Quitclaim Deeds Work in South Carolina?
Laws surrounding quitclaim deeds are found in Title 27 of the South Carolina Legislature titled Property and Conveyances.
A quitclaim deed in South Carolina must state that the Grantor “quitclaims” their interest in the property to the Grantee. Once prepared, the quitclaim deed must be filed at the County Registers of Deeds in the county where the property is located.
Can You Prepare Your Own Quitclaim Deed in South Carolina?
You can prepare your own quitclaim deed in South Carolina. A professional drafter is not legally required.
The name and address of the individual who drafted the deed, however, must be mentioned under “Prepared by.”
South Carolina Quitclaim Deed Requirements
Most formatting standards in South Carolina are those that counties have uniformly adopted and standardized throughout the state.
Formatting requirements for quitclaim deeds in South Carolina include:
- Paper size: between letter (8.5 x 11) or legal (8.5 x 14).
- Margins: leave a 3×3 inch space in the upper right corner of the first page for the recorder; no less than 1.5 inches on all remaining sides.
- Font: black or blue ink; prints legible and photocopiable.
Content requirements for quitclaim deeds in South Carolina include:
- Grantor’s name and address.
- Grantee’s name and address.
- Preparer’s name and address.
- Granting clause – a statement describing the transfer the parties have agreed to.
- Consideration clause – the value or the amount of money exchanged.
- Property address.
- Property’s legal description.
- Property’s district, map, or parcel number where applicable.
Who Signs a Quitclaim Deed in South Carolina?
For a quitclaim deed to be legally valid in South Carolina, it must be signed by the Grantor, with their names typed directly under the signatures.
The Grantor must have their signature authenticated by two witnesses, and one of these witnesses must be a notary public or an authorized officer.
How to File a Quitclaim Deed in South Carolina
Here’s how to file a quitclaim deed in South Carolina:
- Prepare the quitclaim deed with the information required.
- Ensure that the Grantor signs the deed with their signature authenticated by two witnesses, including a notary public or an authorized officer.
- The party submitting the deed for recording is required to complete a statement, known as an Affidavit for Exempt Transfers to report the property’s value and tax exemptions, if any.
- If the quitclaim deed is used for a real estate sale, then the Grantor is required to fill out a South Carolina Property Disclosure Statement.
- The quitclaim deed must be filed at the County Registers of Deeds in the county where the property is located.
How Much Does it Cost to File a Quitclaim Deed in South Carolina?
In South Carolina, the fees for filing a quitclaim deed are as follows:
- $15 flat fee for real estate deeds.
- $25 flat fee for an attached plat or survey.
What Taxes Are Owed on Quitclaim Deeds in South Carolina?
In South Carolina, the transfer of property through a quitclaim deed triggers transfer tax, also known as a deed recording fee:
- The transfer fee rate is $1.85 for each $500 of the property’s value.
- Many transfers that are generally filed under quitclaim deeds are tax-exempt from the recording fee, including:
- Property transferred for no consideration (or less than $1oo).
- Transfers for partitioning property.
- Property transfers within family partnerships or trusts.
- Corrective or quitclaim deeds to confirm the existing title.
How Long Does a Quitclaim Deed Take to be Recorded in South Carolina?
The length of time it takes to record a quitclaim deed in South Carolina can vary based on county-specific processes. Typically, it can take anywhere from a few business days to a few weeks.
What Happens After a Quitclaim Deed is Recorded in South Carolina?
In South Carolina, 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 ownership will then be made official.
The original deed will then be mailed back to the return information provided. In some South Carolina counties, paper copies are not retained; instead, the deed is scanned after recording, and the original is returned immediately.
How Long Are Quitclaim Deeds Valid For in South Carolina?
There is no expiration for quitclaim deeds in South Carolina. However, the time to recover real property in South Carolina is limited to ten years.