In Oklahoma, interest in real property can be transferred from one party to another by executing a quitclaim deed. Quitclaim deeds are statutory in Oklahoma under 16 O.S. Section 41, and they convey all the right, title, and interest of the grantor to and in the property (16 O.S. Section 18). This type of deed only conveys the interest the grantor may have at the time the deed is executed, but it does not guarantee that the grantor has good title or right to the property.
Quitclaim deeds offer no warranties of title and provide the least amount of protection to the grantee (buyer). They are generally reserved for divorces and other transfers of property between family members. Quitclaim deeds do not offer the same assurances as general warranty deeds, which convey real property with the most assurance of title, or special warranty deeds, which only guarantee the title against claims that arose during the time the grantor held title to the property.
A lawful quitclaim deed includes the grantor's full name, mailing address, and marital status; the consideration paid for the transfer; and the grantee's full name, mailing address, marital status, and vesting. Vesting describes how the grantee holds title to the property. Generally, real property is owned in either sole ownership or in co-ownership. For Oklahoma residential property, the primary methods for holding title are tenancy in common, joint tenancy, and tenancy by entirety. A conveyance of real estate to two or more persons creates a tenancy in common, unless otherwise specified. Only spouses can declare a tenancy by entirety (60 O.S. Section 74).
As with any conveyance of realty, a quitclaim deed requires a complete legal description of the parcel. The legal description must provide the information necessary for indexing as required by Section 287 and 291 of Title 19 O.S. (addition, block & lot, section, township & range, and metes & bounds if necessary for the location). Verify the type of description required with the local county clerk's office. Recite the prior deed reference to maintain a clear chain of title, and detail any restrictions associated with the property.
A quitclaim deed must meet all state and local standards for recorded instruments. Sign the deed in the presence of a notary public and record at the clerk's office in the county where the property is located for a valid transfer. Contact the same office to verify accepted forms of payment. When submitting a deed that is exempt from the Documentary Stamp Tax, cite the exemption claimed on the face of the deed. See 68 O.S. Section 3202 for a list of exemptions. For any questions regarding a transfer of property affecting Indian land, refer to the Bureau of Indian Affairs and contact a lawyer.
This article is provided for informational purposes only and is not a substitute for legal advice. Consult an attorney with questions about quitclaim deeds, or for any other issues related to the transfer of real property in Oklahoma.
Deeds.com Oklahoma Quit Claim Deed Forms Have Been Updated as Recently as Thursday August 9, 2018