A New Hampshire quitclaim deed allows you to transfer property ownership without making any warranties — legally enforceable promises — about the title and whether there are any claims or liens against the property. Family members often use quitclaim deeds in New Hampshire to quickly transfer property.
Laws & Requirements
Statute New Hampshire Revised Statutes Chapter 477 & Chapter 478: Exact phrasing isn’t mandatory, but sample language includes grantor and grantee names, addresses, consideration, “quitclaim,” land description, and exceptions.
Signing Requirements § 477:3: The grantor’s signature is essential; without it, the quitclaim deed is void. It must be acknowledged by a justice or a notary public, and witnesses aren’t required.
Recording Requirements § 477:3-a: Must be recorded with the county’s Register of Deeds. Verify specific county requirements before visiting. § 478:4-a mandates including the grantee’s address, property municipality names, and signer details.
Transfer Tax: Yes: $0.75 for each $100 sale price as per § 78-B:1.
Additional Documents Within 30 days of recording, both seller and buyer file Declaration of Consideration forms and Inventory of Property Transfer (Form PA-34) with the NH Department of Revenue Admin to pay real estate transfer tax. The seller uses Form CD-57-S, and the buyer uses Form CD-57-P. Exemptions exclude form requirements.
How to File
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Step 1: Locate Original Deed
- Own it or request from county register if lost.
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Step 2: Legal Property Description
- Pull from original deed.
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Step 3: Fill Out Quitclaim Deed Form
- Adhere to formatting standards.
- Include necessary information as per N.H. Rev. Stat. § 478:4-a and § 477:28.
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Step 4: Sign and Notarize
- In presence of a notary, as required by N.H. Rev. Stat. § 477:3.
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Step 5: File With Registry of Deeds
- Record at property’s county registry, following N.H. Rev. Stat § 477:3-a.
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Step 6: Pay Transfer Tax and Submit Payment Evidence
- Within 30 days, as stated in N.H. Rev. Stat. § 78-B:1 and § 78-B:3.
Costs and Fees
Recording Fees (N.H. Rev. Stat. § 478:17-g)
- $10 for the first page.
- $4 for each additional page.
- $25 fee for recording a deed.
Taxes
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Real Estate Transfer Tax (N.H. Rev. Stat. § 78-B:1)
- Paid by both seller and buyer at the registry of deeds.
- Tax rate: $0.75 per $100 of consideration, $20 minimum if ≤$4,000.
- Exemptions include transfers to government or tax-exempt organizations, for correction, noncontractual transfers, cemetery plots, joint tenancy, death of a partner, or divorce decree transfers (N.H. Rev. Stat. § 78-B:2).
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US Gift Tax
- Federal tax for gifts exceeding the annual exemption.
- Grantor files Form 709 if property value exceeds federal exemption.
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Capital Gains Tax
- Federal tax based on property ownership duration and consideration received.
- No state capital gains tax in New Hampshire.
Frequently Asked Questions
Are There Any Specific Requirements for a New Hampshire Quitclaim Deed?
Yes, New Hampshire has specific requirements for Quitclaim Deeds, including:
– The legal description of the property must be precise.
– The deed must include the grantor’s and grantee’s full names and addresses.
– Signatures of all parties involved must be notarized.
– The deed must state the consideration paid for the property transfer.
– The document needs to be recorded at the local County Registry of Deeds to be effective against third parties.
– A Real Estate Transfer Tax Declaration of Consideration form must be filed if the transfer is subject to the state’s real estate transfer tax.
Can I Use a Quitclaim Deed to Transfer Property to a Family Member in New Hampshire?
Yes, quitclaim deeds are commonly used to transfer property between family members in New Hampshire. This method is often chosen for its simplicity and the fact that it does not warrant the title, making it suitable for transactions where the parties know each other well and there is a mutual trust regarding the property’s history and title status. However, it’s crucial to understand that this type of deed does not provide the grantee with protection against any existing claims or liens on the property.
How Can I Correct a Mistake on a New Hampshire Quitclaim Deed?
To correct a mistake on a New Hampshire Quitclaim Deed, you should create and record a Corrective Deed. This involves:
1. Identifying the mistake clearly and ensuring it needs correction.
2. Drafting a Corrective Quitclaim Deed that states the correction, referencing the original deed by recording date and book/page number.
3. Including a statement in the corrective deed that specifies it is for correction purposes, detailing the error and the correction made.
4. Having the grantor(s) sign the Corrective Deed in front of a notary public.
5. Recording the Corrective Deed at the County Registry of Deeds where the original deed was recorded, along with any applicable fees.
It is important to ensure that the corrective process follows New Hampshire’s legal requirements for deed recording.
