Using An Interspousal Transfer Deed

Published: 30th March 2011
Views: N/A

There are times in life when you have to deal with changes. Perhaps you are going through a divorce or getting married and you want to add your spouse to the property title. You may want to remove someone from the title because of bad credit. Whenever you add a spouse to your property title you must use an interspousal transfer deed. This is also known as a grant deed.

An interspousal transfer deed must be used whenever a spouse is added or removed from the property title. There are different types of property deeds. There is the Quitclaim Deed and The Interspousal deed. When you are married you will use the interspousal transfer deed.

Whenever you transfer title of property, a transfer tax is assessed. Sometimes the property will be assessed which can raise your property taxes. When you use an interspousal transfer deed you will be exempt from having this done. Therefore you do not have to worry about your taxes going up. This is reason enough to use an interspousal deed instead of other grant deeds.

Make sure you fill out the form correctly. You can find interspousal transfer deed online which you can copy and use. There are certain things you want on a deed. All parties involved must be identified on the document and it must be listed what title they currently hold, the property being transferred must be listed clearly, you should sign the document in front of a notary public. Both parties will sign and the notary will notarize the document, and you will have the deed executed at the County Recorder's office. The document will then be recorded there.

There are plenty of sites online that will allow you to use their fill-in-the-blanks interspousal transfer deed. This is often allowed for free also. Besides the internet, you can find a form at the title and escrow company near you.For a small fee you will be able to execute and record an interspousal transfer deed.

For most states there is no time limit with these documents. There is one exception, however. California does have a time limit to file these documents. In California you have 4 years after a divorce to file an interspousal transfer deed. If you wait past the four years you cannot change the title.

When a quitclaim deed or an interspousal deed is used to remove someone from a property title, it does not change financial obligations. The party being removed will still be held responsible for paying the property taxes and mortgage if the other party fails to do so. When a deed is filled out it must be signed by all parties involved. This includes the mortgage company, and both spouses. It must be notarized in order to be a legal document. Having a deed notarized costs a few dollars, but it is a small fee to pay.

If you need to fill out and execute an Interspousal transfer deed remember to check the internet for free ones. All you will have to do is fill it out and print it. Include the property address on the deed.

Report this article Ask About This Article

More to Explore