A Connecticut quitclaim deed helps transfer real property easily and quickly without providing any warranty on the title. The property owner only transfers whatever interest they have without making any promises that there are no claims or liens to the property.
Laws & Requirements
Statute: Conn. Gen. Stat. § 47-36f and § 47-36g: Requested model language includes grantor and grantee names, the term “with quitclaim covenants,” the property’s legal description, as well as any other provisions.
Signing Requirements: Conn. Gen. Stat. § 47-5: The deed is invalid without the grantor’s signature. The acknowledgment must be made in front of a notary public and in the presence of two witnesses (if agreed upon, the notary may act as one of the witnesses).
Recording Requirements: A quitclaim should be recorded in the appropriate office where the property is located (with specific procedures, including fees).
Transfer Tax: Yes. The seller pays a real estate conveyance tax if they receive at least $2,000 for the property. The transfer tax ranges from 1% to 2.75% of the sales price.
Additional Documents: No.
How to File
- Identify Yourself as the Preparer: Start by filling in your details as the person preparing the deed, including your name and mailing address.
- Provide Grantor Information: Locate the section for the grantor (person transferring ownership). Fill in their name and complete address with the county.
- Name the Grantee (Receiver): Identify the recipient of the property by entering their name with the designation “grantee” and their full address, including the county.
- Specify Who Receives the Deed After Filing: Indicate who should get the final copy of the deed by adding their name and address under the preparer’s information.
- Indicate the Property’s County: Find the designated area for the property’s location and fill it in.
- Record the Purchase Price: Enter the amount paid for the property in both written words and numerical format.
- Add the Legal Description: Locate the section for the property’s legal description. This might require referencing past deeds or consulting the town clerk.
- Sign and Notarize the Deed: The grantor must sign the document in the presence of a notary public and two witnesses.
- File the Completed Document: Take the notarized deed to the town clerk’s office in the location where the property is situated. Be prepared to pay any filing fees or taxes.
Costs and Fees
Filing Fees:
- $60 for the first page, with subsequent pages costing $5 each. There is a $2 charge for each mortgage assignment beyond the first two.
Taxes:
- Documentary Transfer Tax (DTT) This tax varies based on the property type, value, and location, and it comprises state and municipal components, ranging from 1% to 2.75%. There are exemptions, like transfers between spouses or short sales, but typically the grantor settles the tax before recording the deed.
- U.S. Gift Tax (Form 709): Connecticut has its own gift tax, where property transfers for nominal or no payment could potentially be subject to taxation. Additionally, federal gift taxes apply for property transfers exceeding a designated amount, which varies annually.
- Capital Gains Tax: The state imposes its own unique capital gains tax, while the federal tax is also applicable.
Frequently Asked Questions
Is a quitclaim deed the same as a warranty deed in Connecticut?
No, a quitclaim deed is not the same as a warranty deed. While both types of deeds are used to transfer real estate ownership, they differ significantly in the level of protection they provide to the grantee (buyer).
A quitclaim deed only transfers whatever interest the grantor (seller) has in the property without making any guarantees about the title. In contrast, a warranty deed includes covenants or promises from the grantor that they have clear title to the property and that there are no outstanding liens or encumbrances, offering the grantee greater security.
How long does it take for a quitclaim deed to be processed in Connecticut?
The processing time for a quitclaim deed in Connecticut can take anywhere between a few days to several weeks after it’s submitted to the town clerk’s office. This timeframe can vary depending on factors like workload at the office and any errors found in the paperwork.
For a more accurate estimate, it’s best to contact the town clerk’s office where the property is located. They can provide the most current wait times specific to their role.
Can a quitclaim deed be used to remove someone from the property title in Connecticut?
Yes, a quitclaim deed can be used to remove someone from the property title. However, it’s crucial to understand that using one doesn’t necessarily guarantee the removal of the individual’s interest in the property.
When a person is removed from the title through a quitclaim deed, it means they are relinquishing their claim or interest in the property, but it doesn’t absolve them of any financial responsibilities, such as mortgages or liens, unless addressed explicitly in the deed.
