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Richard A. DeMichele, Jr. is a seasoned litigator, devoting a substantial part of his practice to family law and personal injury matters.
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Transferring the Formal Marital Home Using a Quitclaim Deed
We are often asked, “Can you prepare a ‘quickclaim’ deed for me?” Actually the term is a “Quitclaim” and not a “Quickclaim” but since the two sound so similar many people use the wrong term. I always chuckle (to myself) when I hear someone mention a “quickclaim” deed. As amusing as the misuse of the word may be, deeds especially in the context of a divorce are very serious. As part of equitable distribution in a divorce, it is not uncommon for one spouse to relinquish or give up their right to the marital home. This is almost always done in exchange for some form of consideration in the parties property or marital settlement agreement (PSA or MSA). Quitclaim deeds are often used by ex-spouses to transfer their interest in the former marital home. However, a quitclaim deed can be used to transfer an interest that is not between spouses or ex-spouses. A quitclaim deed conveys only that right, title or interest that the grantor or owner has, or may have, in the property. It does not warrant that the grantor or owner has any particular title or legal interest in the property. All New Jersey deeds must comply with N.J.S. 46:4A-9(a). The statute requires that all deeds intended to convey an interest in real estate, shall:- identify the parties to the transaction;
- identify the property and the interest to be conveyed;
- evidence an intention to convey the interest through the deed or other instrument;
- be signed and delivered by the party conveying the interest in property; and
- be accepted by the party to whom the interest in property is conveyed.
The following two tabs change content below.
Richard A. DeMichele, Jr. is a seasoned litigator, devoting a substantial part of his practice to family law and personal injury matters.