Brooklyn, NY · Member since 2016 · 71 posts · 21 votes
How does one execute a Quit Claim Deed on a Virginia property when both Parties reside in New York? Please be as specific as you can. The parties involved have extremely limited financial resources and are looking to do it themselves.
Lender · Hunt Valley, MD · Member since 2016 · 83 posts · 30 votes
10y
A quit claim deed is fairly simple. Standard ones are available online. They need to have it notarized when they sign it. Whoever is receiving the deed will need to have it recorded. Its really that simple if the property is owned free and clear.
If I were the one receiving the deed I would have a Virginia Title Company draw up the deed and record it once its signed since they will be intimately familiar with state laws regarding Quit Claim transfers. It should only cost a couple hundred bucks and well worth the good night sleep knowing title was correctly transferred. They will be able to do proper title and lien searches to ensure good title without encumbrances.
Brooklyn, NY · Member since 2016 · 71 posts · 21 votes
10y
So I'm still researching this. Called several Title Companies in Virginia (northern VA would probably be better) and they are saying that they do not work with Quit Claim Deeds. They're saying that an attorney needs to do that. So if anyone else or legal minds have ideas, please share.
Investor · Richmond, VA · Member since 2016 · 31 posts · 24 votes
10y
A do it yourselfer would need to obtain a blank Quit Claim Deed, fill the Quit Claim Deed out properly, have the homeowners sign the Quit Claim Deed in the presence of a notary and then record the Quit Claim Deed at the courthouse in the County in which the property resides in Virginia.
Investor · Richmond, VA · Member since 2016 · 31 posts · 24 votes
10y
I agree with Chris and the title company though: have an experienced legal professional handle the matter. It's not that expensive. If the title company says use an attorney maybe they can suggest one for you. I use Page Allen PC here in Richmond.
Real Estate Agent · Huntington Beach, CA · Member since 2015 · 31 posts · 6 votes
10y
Hi all,
Thanks for the replies. I'm going to check out the attorney Page Allen since my property is in Virginia.
Does anyone know the answer to this question: If the title is being transferred from one LLC to another with $0 payment or sale, will I be subject to be paying transfer taxes? It's basically transferring ownership from my family to just me.