A Wyoming quitclaim deed is a document that gives a grantor the ability to quickly transfer ownership of a property to a grantee without the promise of a clear title or any guarantee of ownership. This type of deed is appropriate when transferring property within a family because the people know and trust each other.
How to File
Filing your Wyoming quitclaim deed correctly is key to making the transfer official. Follow these simple steps to complete, sign, and record your document.
Step 1: Gather the Paperwork
Ensure you have all the relevant information about your property and the quitclaim deed process. You may need:
- The title to the property (containing information like the current owner and the legal description).
- A quitclaim deed template.
- The Statement of Consideration form (required by Wyo. Stat. § 34-1-142).
Step 2: Complete the Relevant Forms
Fill in all information required by the quitclaim deed template and the Statement of Consideration form. Include the following information on your quitclaim deed form:
- Grantor’s name and address
- Consideration (the amount paid, whether nominal or an actual purchase price)
- Quitclaim language
- The property’s legal description
Do not omit information or leave blanks since this may invalidate the documents or impede the transfer process.
Step 3: Visit a Notary
Wyo. Stat. § 34-1-113 requires that a quitclaim deed be notarized. You should wait to sign and date the quitclaim deed paperwork until in the presence of a notary. Expect to take a government-issued ID to the notary for proof of identity.
Step 4: File Your Deed
Visit the County Clerk’s Office in the county where the property sits, as Wyo. Stat. § 34-1-118 requires. Prepare to pay a $12 filing fee for the document’s first page and $3 for each additional page (Wyo. Stat. § 18-3-402). Please consult your County Clerk’s Office for information about what specific fees the county will require ahead of time because different counties may have their own requirements.
Costs and Fees
Wyoming quitclaim deed filings typically involve recording fees, with no major state transfer taxes in most cases. Knowing the local fees ahead of time ensures a smooth and efficient transaction.
Filing Fees
Counties in Wyoming may set their fees in accordance with Wyo. Stat. § 18-3-402, which states a $12.00 filing fee per document and a $3.00 charge for each additional page. Please check your county for the exact filing fees before filing your property transfer.
Taxes
While Wyoming doesn’t charge any taxes for conveying real estate, Wyoming residents have to still pay US gift and capital gains taxes.
1. US Gift Tax (Form 709)
Wyoming does not have a separate gift tax. The US gift tax is assessed when one party, including a family member, gives another a gift of significant monetary value. The grantor most often pays the gift tax, which covers the property’s value.
Real estate gifts often have substantial value, so they may exceed the exemption offered for gifts given by relatives. The exemptions change yearly, so you should check with the Internal Revenue Service to learn the current year’s limits. The exemption limit is $18,000 per donee for the 2024 tax year, an increase from the $17,000 exemption limit in 2023.
2. Capital Gains Tax
Wyoming doesn’t charge capital gains tax, but grantors are still subject to federal capital gains tax. Topic no. 409 covers short-term and long-term capital gains tax information.
The capital gains tax is a tax assessed on real estate when the value of the property rises significantly from the original purchase date to the property’s sale. Real estate value can grow substantially over the years. When the time comes to sell or transfer the property, if the owner receives a significant increase in value, it may be reflected in the capital gains tax.
The IRS allows exceptions to the capital gains tax up to a certain amount if the property was your primary residence for at least two out of the last five years (Topic no. 701).
Wyoming Quitclaim Deed Requirements
In Wyoming, quitclaim deeds must adhere to certain legal and recording requirements. Completing your deed carefully helps you transfer property smoothly and without issues.
Legal Framework
Wyo. Stat. § 34-2-104 provides a standard quitclaim form. Wyo. Stat. § 34-2-105 states that a quitclaim deed transfers the property as-is with no title guarantees. It won’t transfer any title that the grantor acquires in the future unless the document explicitly provides these instructions.
Legal Description
Wyoming’s statutory form requires a legal description of the property. While the state doesn’t specify what entails a legal description, it usually includes the following information:
- Lot and block
- Metes and bounds
- Landmarks or monuments
- Governmental surveys
Signing
A valid signature from the grantor (the party currently owning the property) affirms the transfer. A notary must confirm that signature and stamp and sign the document, as per Wyo. Stat. § 34-1-113.
Terminology
Wyo. Stat. § 34-2-106 doesn’t require using the word “release” to convey property. The document should use the word “quitclaim” for clarity.
Any quitclaim deeds that grantors have previously executed in the state are valid and have the same legal effect whether they include the term “release.”
Additional Documents
To file a quitclaim deed, Wyo. Stat. § 34-1-142 requires a Statement of Consideration Form, which lays out the property’s purchase price and any other terms of payment. Subsection (c) outlines some instances in which the grantor doesn’t have to fill out a statement of consideration form, including the following:
- The confirmation, correction, or modification of a previously recorded instrument with no additional consideration.
- A transfer pursuant to reorganizations, consolidations, or mergers of business entities.
- A transfer that involves a gift of more than half of the true value.
- A transfer between a parent and child or husband and wife with only nominal consideration.
- A sale for delinquent taxes or assessments (or a transfer or sale relating to a foreclosure).
- A deed that transfers the property to the same party.
- A transfer by a subsidiary corporation to its parent corporation without actual consideration or in consideration of the surrender of a subsidiary stock.
- Any transfer that the Department of Revenue and State Board of Equalization exempts upon finding that the information isn’t relevant in determining sales-price ratios.
Filing
Wyo. Stat. § 34-1-118 requires quitclaim deeds to be filed with the county clerk’s office in the county where the property is located. Until the grantor completes the filing process, they maintain possession of the property and all associated responsibilities.
Validity Requirements
A quitclaim deed must follow Wyoming’s general rules for deeds, including formatting requirements. These requirements include the following (Wyo. Stat. § 34-1-119):
- A top margin of at least 3 inches on the deed’s first page.
- The new owner’s mailing address.
- Names and identification information for all involved parties.
- A legal description of the property (including the property’s address, boundaries, and other information in the title).
In addition, Wyoming notes that if the property is a homestead, the owner must waive the homestead rights to that piece of land (Wyo. Stat. § 34-2-121).
Content Requirements
A quitclaim deed must contain essential information that lays out the property transfer. This information includes:
- The name and address of the grantor.
- A notice that the grantor conveys and quitclaims all interests in the property.
- The grantee’s name.
- The legal description of the property.
It should not contain any notice about warranties or guarantees on the property.
Quitclaim Deeds vs. Other Property Transfer Methods in Wyoming
| Quitclaim Deed | Makes no guarantees about the title and right to transfer property. Doesn't promise that the grantor will defend against third-party claims. |
| General Warranty Deed | Promises that the owner holds a good title and has the right to transfer the property. Ensures that the property has no encumbrances and that the current owner will defend the property's title against third-party claims. |
| Special Warranty Deed | Protects against any encumbrances or claims that were brought upon actions of the current owner. Offers no protection for encumbrances by past owners. |
| Survivorship Deed | Conveys property to two (sometimes more) co-owners who both hold title with a right of survivorship. |
| Life Estate Deed | Creates two separate interests (for the life tenant and the beneficiary) in the same property for the life tenant's lifetime. The life tenant needs the beneficiary's permission to transfer property. |
| Transfer on Death Deed | Lets the original owner maintain the complete title until they die. At their death, the title goes to a beneficiary. |
Sample Wyoming Quitclaim Deed
View a free sample Wyoming quitclaim deed. Fill it out using our document editor and download your final copy as a Word or PDF file.
Frequently Asked Questions
How does a quitclaim deed affect probate in Wyoming?
A quitclaim deed doesn’t avoid probate directly, but it can transfer property into trusts to potentially bypass probate.
Can a quitclaim deed in Wyoming be revoked?
It’s generally challenging to revoke a quitclaim deed in Wyoming, but you may be able to have it revoked if you signed it under duress or coercion.
Is a Wyoming quitclaim deed safe?
It’s generally safe when parties who trust each other use it. Because it doesn’t guarantee a clear title, it may be unsafe when the parties haven’t already established trust with one another.
