An Oregon quitclaim deed is a legal document that transfers rights or interest in a real estate property from one person (grantor) to another (grantee). This type of property transfer doesn’t guarantee the ownership or clarity of the title. So, do your due diligence to ensure you’ll get a defect-free title.
Statute: ORS § 93.865 outlines the required format for quitclaim deeds, including identifying the parties, describing the property, and stating the consideration. It clarifies that a quitclaim deed transfers the grantor’s current title or interest in the property but doesn’t guarantee future interests.
Signing Requirements: Per ORS § 93.410, the grantor’s signature is vital, and acknowledgment involves confirming one’s voluntary action. This is done before a notary public or recognized state officials.
Recording Requirements: § 205.130: File the deed at the County Court Clerk’s Office and verify fees with the Recorder’s Office before submitting. Non-conforming documents may incur a $20 fee along with recording fees.
Transfer Tax: No (except in Washington County).
Download: PDF or MS Word
In Oregon, quitclaim deeds can be challenged under certain circumstances, although the grounds for challenge are typically more limited compared to other types of deeds. One common basis is fraud or misrepresentation by the grantor, such as if the grantor falsely claims ownership of the property being transferred.
Additionally, if the grantor lacked the legal capacity to execute the deed, for example, due to mental incapacity or coercion, the deed may be challenged on grounds of incapacity. However, it’s essential to note that simply being dissatisfied with the outcome of a property transfer or discovering later that the property has title issues does not necessarily provide sufficient grounds for challenging a quitclaim deed.
While both quitclaim deeds and warranty deeds are used to transfer property ownership in Oregon, a quitclaim deed offers minimal protection to the grantee regarding the title. In contrast, a warranty deed provides more comprehensive assurances from the grantor regarding the quality and validity of the title.
It’s generally advisable to notify the lender when using a quitclaim deed, especially if the property being transferred is subject to an existing mortgage. While a quitclaim deed primarily transfers the grantor’s interest in the property to the grantee, it does not remove any existing mortgage obligations.
Therefore, the grantor may still be liable for the mortgage debt even after the transfer unless the lender agrees to release them from the obligation. Failure to notify the mortgage lender about the transfer could potentially lead to complications or legal issues down the line.
