What is a Wisconsin Quitclaim Deed?
A Wisconsin (WI) quitclaim deed is a legal document that allows a property’s owner to transfer that property to a buyer quickly. It names the buyer and seller, the property, and any interest, terms, or conditions conveyed in the transfer of property.
In a quitclaim deed in Wisconsin, the buyer and seller agree that there is no guarantee or warranty to the title being clear and free.
This is different than a warranty deed, which is the more standard type of deed and requires a title search and inquiry. Because of this, the buyer takes on risk in a quitclaim deed, because they have no recourse if title problems develop.
Wisconsin quitclaim deeds are most often used when transferring property within a family, putting property into a trust for estate planning purposes or removing a potential interest holder from the property. A WI quitclaim deed is sometimes mistakenly called a “quit claim deed,” “quit claims deed,” or “quick claim deed.”
Important Laws & Requirements
- Law: WI Stat. § 706.02 and § 706.10(4)
- Signing: The Wisconsin quitclaim deed must identify all parties and be signed by all parties or their representatives, and notary acknowledgment is required.
- Ink: Quitclaim deeds must be filled out in black ink only.
- Recording: Wisconsin quitclaim deeds must be recorded with the county’s Register of Deeds.
- Formatting: Forms must have ½ inch margins and a 3-inch by 3-inch blank space in the upper right-hand corner.
How to Write & File a Quitclaim Deed in Wisconsin
Step 1: Download the WI quitclaim deed form. Fill in the form using black ink, either digitally or by hand.
Step 2: Fill in the appropriate information. First, list the name and address of the grantor (seller) and then the grantee (buyer). The terms “grantor” and “grantee” must be listed in the document. Then, list the county where the property is located. Provide a full legal description of the property. If money is changing hands, list this as part of the full legal description. Verify whether or not the property is a homestead property.
Step 3: Add the name and return address of the person and place where you wish to have the deed sent when the Register of Deeds is done recording the information. This is typically the buyer’s name and address. Underneath that, list the PIN for the property.
Step 4: Get original signatures from each party or their legal representatives, witnessed by a notary public.
Step 5: List the name and contact information of the party who prepares the form.
Step 6: Record the information for the Register of Deeds in the county where you will file the deed. Pay the county’s fee for quitclaim deeds.
Step 7: File a Real Estate Transfer Return form with the WI Department of Revenue. This electronic form must be filed along with the quitclaim deed. This allows the Wisconsin Department of Revenue to determine if the transfer is taxable. Each transfer is considered individually when determining if it is taxable or not.