What is a Vermont Quitclaim Deed?
A Vermont (VT) quitclaim deed is a legal document that allows a property owner (the grantor) to transfer their ownership interest to a purchaser (the grantee). Once the quitclaim deed is executed and recorded, the grantor no longer has any legal interest in the property, and the grantee may keep it or dispose of it as they wish.
A quitclaim deed and a warranty deed both transfer property but do so in different ways. A quitclaim deed gives up whatever the grantor’s interest in the property is, which can range from no interest at all to exclusive ownership interest. A warranty deed, on the other hand, warrants that the grantor has and is conveying free, clear title to the property.
It’s important to know that the correct term for this deed is “quitclaim.” Though quitclaim deeds are often called “quit claim” or “quick claim” deeds, neither of these spellings is correct.
Important Laws & Requirements
A VT quitclaim deed must fulfill several requirements before it can be recorded.
- Laws: 27 Vermont Statutes Annotated (V.S.A.) §§ 341, 342.
- Transfer tax: Vermont imposes a real estate transfer fee. You’ll need to fill out and file Form PT-172 with the Department of Taxes before the quitclaim deed can be filed. Generally, the transferee (or the person receiving the property) is responsible for paying these taxes.
- Signing: The V.S.A. requires the quitclaim deed to be notarized by a notary public. See 27 V.S.A. § 301.
- Recording: The signed and notarized quitclaim deed must be submitted to the County Clerk’s Office in the county in which the property is located.
How to Write & File a Quitclaim Deed in Vermont
Vermont doesn’t have many requirements as far as the “magic language” that must be included in a quitclaim deed to make it valid. However, there are a number of important names and addresses to include on the deed to ensure that it is processed without incident.
Step 1: Fill out the preparer’s section of the form by putting down the name and mailing address of the person who prepared the quitclaim deed.
Step 2: Fill out the “After Recording Return To” information—that is, the names and mailing addresses of anyone you would like to receive a copy of the recorded quitclaim deed or any other materials regarding the filing.
Step 3: Add the name of the county in which the property is located.
Step 4: Report the amount of consideration, or compensation, the grantor received from the grantee. Write this number out and include it in numerical form (for example, “Ten thousand dollars ($10,000)”). If the property is being transferred without any money changing hands, just put $0.
Step 5: Add the grantor’s full name and address (including the county of residence). Next, add the grantee’s address, including county, city, and state.
Step 6: Add information about the address and legal description of the property. This can include things like parcel numbers, language from the original deed, or any other information that makes clear what property is being conveyed.
Step 7: The grantor will sign the next page of the quitclaim deed. If there are multiple grantors, you can add additional columns. A notary public will witness the signing and then notarize the document with his or her seal, ID number, and commission expiration date.
Step 8: Finally, you’ll need to send the notarized quitclaim deed to the County Clerk’s Office in the Vermont county where the property is physically located. Each county has its own specific requirements and processes, so it’s a good idea to pre-emptively contact the Clerk’s Office to see what additional documents you may need and what procedures you’ll need to follow.
After the Clerk’s Office has recorded the quitclaim deed, they’ll mail a copy to you and anyone else who included their information in the “After Recording Return To” section. The entire process is far more simple and streamlined than many legal proceedings tend to be, and the downloadable forms at legaltemplates.net can make it even easier.