What is a Quitclaim Deed in Wisconsin?
In Wisconsin, 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 Wisconsin.
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 Wisconsin?
The main difference between quitclaim deeds and warranty deeds in Wisconsin 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 Wisconsin. Quitclaim deeds, on the other hand, are typically used for transfers between family and friends.
How Do Quitclaim Deeds Work in Wisconsin?
Laws surrounding quitclaim deeds are found in Chapter 706 of the Wisconsin State Legislature titled Conveyances of Real Property; Recording; Titles.
A quitclaim deed in Wisconsin must state that the Grantor “quitclaims” their interest in the property to the Grantee. The deed must clearly state that the Grantor is not providing any warranties on the property’s title.
Once prepared, the quitclaim deed must be filed at the Office of the Register of Deeds in the county where the property is located.
Can You Prepare Your Own Quitclaim Deed in Wisconsin?
You can prepare your own quitclaim deed in Wisconsin. 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.”
Wisconsin Quitclaim Deed Requirements
For a quitclaim to be legally valid in Wisconsin, the deed must follow certain state-specific rules.
Formatting Requirements
Formatting requirements for quitclaim deeds in Wisconsin include:
- Paper size: between letter (8.5 x 11) or legal (8.5 x 14).
- Paper weight: 20lb minimum.
- Paper color: white.
- Font color: black, blue, or red ink.
- Print must be legible and photocopiable.
- Margins: top margin is 0.5 inches; bottom and sides minimum 0.25 inch
- No stapling or binding allowed.
Content Requirements
Content requirements for quitclaim deeds in Wisconsin include:
- Grantor’s name and address.
- Grantor’s marital status and spouse’s name.
- Grantee’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.
- Social security numbers are not allowed.
- Property description by one or more of the following:
- Describe land using the “metes and bounds” method, starting from a fixed point (like a monument or section corner) or the end of a recorded private claim or federal reservation.
- Specify with government lot, private claim, or quarter section, section, township, and range.
- Refer to recorded subdivisions or certified survey maps when applicable.
First Page Requirements:
Required first-page content and formatting for a Wisconsin quitclaim deed:
- The title “Quitclaim”: place between 0.5 to 3 inches from the top.
- Unique Document Number: place within 3 inches from the top left corner, in an area measuring at least 0.5 inch by 2 inches.
- Recording information: place in a 3×3 inch blank space in the upper right corner.
- Return address: place in a 1×3 inch horizontal space no more than 3 inches from the top; directly below the title, the recording information, or the unique document number.
- Parcel Identification Number (PIN): place the PIN below the return address section.
Who Signs a Quitclaim Deed in Wisconsin?
For a quitclaim deed to be legally valid in Wisconsin, it must be signed by the Grantor.
If it is a marital property listed as a homestead, then both spouses must sign the quitclaim deed. Alternatively, a waiver of homestead rights can be signed and attached.
The Grantor’s signature must be acknowledged before a notary, or authenticated by an authorized officer in the county where the property is located.
How to File a Quitclaim Deed in Wisconsin
Here’s how to file a quitclaim deed in Wisconsin:
- Prepare the quitclaim deed with the information required.
- Once the quitclaim deed is signed, ensure that it is acknowledged before a notary.
- The Grantor must complete an online Real Estate Transfer Return (eRETR) application and submit the receipt, along with taxes payable, when filing the quitclaim deed.
- File the quitclaim deed and the relevant information at the Office of the Register of Deeds in the county where the property is located.
How Much Does it Cost to File a Quitclaim Deed in Wisconsin?
In Wisconsin, the state recording fees for filing a quitclaim deed are as follows:
- $30 flat fee for any number of pages.
- $50 flat fee for subdivision, cemetery, and Condominium Plats.
What Taxes Are Owed on Quitclaim Deeds in Wisconsin?
In Wisconsin, the transfer of a property through a quitclaim deed triggers real estate transfer tax (also known as real estate transfer fees):
- The real estate transfer fee is $0.30 per $100 of consideration paid.
- Transfer tax is payable at the time of recording.
- Many transfers that are generally filed under quitclaim deeds are tax-exempt from the Real Estate transfer fee, including:
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- When the property is transferred for no consideration.
- When the property is worth $1,000 or less.
- When there are mergers or changes in ownership of a company.
- When family members exchange property for little or no money.
- When spouses exchange property.
- When property is transferred due to inheritance, descent, or survivorship.
How Long Does a Quitclaim Deed Take to be Recorded in Wisconsin?
The length of time it takes to record a quitclaim deed in Wisconsin 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 Wisconsin?
In Wisconsin, 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.
How Long Are Quitclaim Deeds Valid For in Wisconsin?
There is no expiration for quitclaim deeds in Wisconsin. However, in most cases, there is a 30-year limit to file legal claims related to land titles.
Sources
- 1 WI Stat. § 706.10(4)
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Forms, construction. (4) A quitclaim deed shall pass all of the interest in or appurtenant to the land described which the grantor could lawfully convey, but shall not warrant or imply the existence, quantity or quality of any such interest.
Source Link - 2 WI Stat. § 706.10(5)
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A conveyance by which the grantor warrants the land or its title shall be construed, except as the terms of the conveyance may otherwise provide, to include covenants, for the benefit of the grantee..
Source Link - 3 WI Stat. § 706.05
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(1) Subject to s. 59.43 (2m), every conveyance, and every other instrument which affects title to land in this state, shall be entitled to record in the office of the register of deeds of each county in which land affected thereby may lie.
Source Link - 4 WI Stat. § 59.43(2m)(b)
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Except as provided in pars. (d) and (e), no document may be recorded in the office of a register of deeds unless it substantially complies with all of the following: 1. The paper is white and is at least 20 pound weight 2. The page width is 8.5 inches and the page length is either 11 inches or 14 inches..
Source Link - 5 WI Stat. § 66.0217(1)(c)1.
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“Legal description” means a complete description of land to be annexed without internal references to any other document, and shall be described in one of the following ways: By metes and bounds commencing..
Source Link - 6 WI Stat. § 59.43(2m)
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Standard format requirements for recorded documents. (a) Except as provided in pars. (d) and (e), no document may be recorded in the office of a register of deeds unless it substantially complies with all of the following on the first page of the instrument…
Source Link - 7 WI Stat. § 706.02(1)(f)
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Is signed, or joined in by separate conveyance, by or on behalf of each spouse, if the conveyance alienates any interest of a married person in a homestead under..
Source Link - 8 WI Stat. § 706.06
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Authentication. (1) Any instrument may be acknowledged, or its execution otherwise authenticated by its signators, as provided by the laws of this state; or as provided in this section or ch. 140.
Source Link - 9 WI Stat. § 59.43(2)(ag)(1)
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(I) WI Stat. § 59.43(2)(ag)(1)
Subject to s. 59.72 (5), for recording any instrument entitled to be recorded in the office of the register of deeds, $30, except..
For recording and filing a cemetery plat under s. 157.07, a subdivision plat under s. 236.25 or a condominium plat under s. 703.07, $50…
Source Link - 10 WI Stat. § 77.22
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There is imposed on the grantor of real estate a real estate transfer fee at the rate of 30 cents for each $100 of value ….. the value is the total principal amount that the buyer agrees to pay the seller for the real estate.
Source Link - 11 WI Stat. § 77.25
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Exemptions from fee. The fees imposed by this subchapter do not apply to a conveyance..
Source Link - 12 WI Stat. § 893.33(2)
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Except as provided in subs. (5) to (9), no action affecting the possession or title of any real estate may be commenced…. that is founded upon any unrecorded instrument executed more than 30 years prior to the date of commencement of the action..
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