Revoking a quitclaim deed: is it possible?

Generally, an owner of property and the potential purchaser would use a Quitclaim Deed when there is no need to warrant or guarantee that the property is free and clear of liens. In other words, the seller does not warrant and guarantee that the property is free and clear of any and all liens. A common use would be when the property has been in the family and the transfer of the property is between family members knowing that there are no liens on the property and all taxes have been paid on the property.

A Quitclaim Deed is a form of title transfer as is a Warranty Deed and a Special Warranty Deed. Quitclaim Deed – provides the grantee with the least protection; it contains no promises or warranties, and only conveys whatever title and interest the grantor has. A quitclaim deed makes no assurance that the grantor actually has an ownership interest in a property; it merely states that if the grantor does, they release those ownership rights. Quitclaim deeds are typically used to transfer property in non-sale situations, such as transfers of property between family members. Warranty Deed - makes a promise to the buyer that the seller has good title to the property. A quitclaim deed, on the other hand, makes no promises.

A person who inherits property might be subject to taxes. This includes when the person receives a quitclaim deed for the property. However, the person's tax liabilities will ultimately depend in part on the location of the property itself. For legal guidance on the tax implications of inheriting North Carolina property, you might consider consulting with a knowledgeable North Carolina estate and tax planning attorney. Good luck!

The general rule for a North Carolina quitclaim deed is that it must be properly (1) signed by all grantors, (2) notarized, and (3) recorded. (Grantees are not required to sign.) In a sense, the notary public serves as a "witness," as indicated by the language in a typical notary block. However, no additional witnesses are required. Anyone who has questions about a North Carolina quitclaim deed should consider consulting with a knowledgeable North Carolina attorney.

You probably want an attorney to review the deed and make sure it looks ok. You also want an attorney to help you with completing the Preliminary Change of Ownership Form (used by county to determine reassessment of taxes). If all of that looks good, then you want to record the deed with the county recorder. I can review deed and help with Preliminary Change of Ownership Form for $295. Same Day Service.