A West Virginia quitclaim deed allows a property owner to relinquish a property claim to a grantee, identifying them as the new owner without issuing title guarantees.
Laws & Requirements
Statute: The state presents its laws governing deeds in W. Va. Code § 36-3. The definition of a quitclaim deed is in W. Va. Code § 36-3-7, which provides language to incorporate.
Signing Requirements: The grantor must sign a written deed for it to be valid (W. Va. Code § 36-1-3). According to W. Va. Code § 39-1-2, the grantor must sign before two witnesses or have it legally acknowledged for its validity. A notary public or certain officials can make an acknowledgment under W. Va. Code § 39-1-3.
Recording Requirements: W. Va. Code § 39-1-2 provides that the grantor should record the deed with the West Virginia county clerk in the county where the property is located. The grantor must pay a recording fee of $30 to the county clerk when filing under W. Va. Code § 59-1-10.
Transfer Tax: Yes (W. Va. Code § 11-22-2).
Additional Documents: The grantor must file a completed Sales Listing Form (Form STC 12:39) with the deed. Furthermore, they must add a “Declaration of Consideration or Value” statement (in accordance with W. Va. Code § 11-22-6) unless the transaction is exempt from the state or county excise tax.
How to File
- Reference the Original Deed: Reference the original deed to discover the legal description.
- List the Document Preparer: List the document preparer’s name and the “Return to” information so the county recorder knows to whom to give the recorded document.
- Fill out the Deed: Fill out the deed using our template, including details like the consideration and the grantee’s and grantor’s information.
- Complete Additional Forms: Complete additional forms, such as Form STC 12:39 and a Declaration of Consideration or Value, as required.
- Sign: Have the grantor sign the document before two witnesses or a notary public.
- File: Take the signed and acknowledged deed and any other required documents to the county court clerk’s office in the county where the property is located. Pay any required filing fees.
Costs and Fees
Filing Fees:
Under W. Va. Code § 59-1-10, county clerks’ offices collect a recording fee of $30.
Taxes:
- Real Estate Transfer Tax: The state transfer tax rate is $1.10 for each $500 of the property’s value, per W. Va. Code § 11-22-2.
- US Gift Tax: IRS Form 709 lays out the amount owed by grantors gifting property over a certain amount, which changes from year to year.
- Capital Gains Tax: West Virginia taxes capital gains as income. According to the state’s Tax Division, the tax equals 6.5% of the estimated capital gain derived from the sale or transfer. The US government also imposes a federal capital gains tax, as discussed in IRS Topic No. 409 and IRS Publication 551.
Frequently Asked Questions
How Do I Remove a Name from a Deed in West Virginia?
Removing someone from a quitclaim deed requires their consent. You should record a quitclaim deed, listing the grantor as the person you wish to remove. Obtain the grantor’s signature and follow the quitclaim deed filing process to finalize the transfer.
Can I Use a Quitclaim Deed to Convey Property to a Trust in West Virginia?
Yes. A grantor can use a quitclaim deed to convey property into a trust. The trust’s trustee would be the grantee on the deed.
Are Quitclaim Deeds Common for Transferring Property in West Virginia?
Yes. Property owners often use this conveyance method for transfers that don’t involve a traditional sale, such as removing or adding someone’s name from the property title or conveying property between family members.
