A Maine quitclaim deed is a legal document by which the grantor transfers property ownership to the grantee. The form is appropriate for property transfers among family members or when one divorcing spouse wishes the other to keep the marital home.
Laws & Requirements
Statute: Maine Revised Statutes Title 33.
Signing Requirements: Maine Revised Statutes Title 33, § 203: The grantor must sign the quitclaim deed before a notary public, attorney-at-law admitted to practice in Maine, or a court clerk.
Recording Requirements: Maine Revised Statutes Title 33, § 201: You should record the signed, notarized quitclaim deed with the County Registry of Deeds in the county where the property is.
Transfer Tax: Yes. Maine Revised Statutes Title 36, Chapter 711-A: This tax depends on the value of the property being transferred, assessing a rate of $2.20 for each $500 of the property’s value. This tax applies equally, one-half on the grantor and one-half on the grantee. You can file the Real Estate Transfer Tax Declarations (RETTD) online or using this downloadable form.
Additional Documents: Maine Revised Statutes Title 33, § 173: A property disclosure statement needs to be provided to potential buyers, stating the property’s condition, services, inventory, or potential hazards.
How To File
- Secure Property Deed Copy: Obtain the current deed, either from personal records or by contacting the property owner or county register of deeds.
- Identify Legal Property Description: Find the legal description on the current deed, including city, town, or unit ID as required, for recording purposes.
- Create Property Disclosure Statement: Prepare disclosures for heating, insulation, water supply, waste disposal, hazardous materials, known defects, and public access, as mandated.
- Complete Maine Quitclaim Deed Form: Follow Maine Registry of Deeds formatting requirements (margins, font, paper size, ink color), include grantor and grantee names, granting language, co-ownership details if applicable, and signatory details.
- Execute Deed with Notary or Authorized Agent: Sign the quitclaim deed in the presence of a notary, ensuring all signatories’ names are printed or typed clearly below signatures.
- File the Quitclaim Deed: Record the deed with the county register of deeds where the property is located, referencing the Register of Deeds website for specific county information, especially for Aroostook County’s division into districts.
Costs and Fees
Recording Fees:
In Maine, recording a quitclaim deed incurs a fee of $19.00 for the first page and $2.00 for each additional page. If more than four names are indexed, there is an additional charge of $1.00 per name. Some documents may also have a $3.00 county surcharge.
Taxes:
- Transfer Tax: This tax is required for all real estate transfers, calculated at $2.20 for every $500 of property value. It’s typically split equally between the grantor and grantee and must be paid within 30 days of the transfer.
- US Gift Tax: Maine does not impose a state gift tax. However, federal gift tax may apply to quitclaim deed transfers exceeding IRS annual exclusion amounts, requiring Form 709 for tax filings.
- Capital Gains Tax: Maine treats capital gains from real estate as regular income, with taxation rates depending on profit amount, ownership duration, and annual income. The IRS also levies a capital gains tax with similar considerations.
