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An Arkansas quitclaim deed is a legal document used to transfer whatever interest a person (the grantor) has in real property to another person (the grantee), without making any warranties about the title. Unlike a warranty deed, it does not guarantee that the grantor actually owns the property or that the property is free of liens or claims. If a title issue arises, the grantee has no legal recourse against the grantor.
Because of the lack of buyer protection, Arkansas quitclaim deeds are rarely used in traditional real estate sales. They are most commonly used when the parties know each other and trust is established, or to clear up title issues. Common uses include:
An Arkansas warranty deed provides a guarantee from the seller that the title is clear of any defects or liens, and the seller will defend the buyer against future claims. A quitclaim deed offers zero guarantees; it simply transfers whatever interest the seller currently has, leaving the buyer to assume all risks associated with the title's history.
Yes, if the property is considered your marital homestead, Arkansas law requires your spouse to sign the deed to release their homestead rights, even if they are not listed on the current deed.
Yes, you can draft your own quitclaim deed, provided it meets all of Arkansas's legal requirements for formatting, legal description, and notarization. However, consulting a real estate attorney is often recommended to avoid costly mistakes.
You must take the original, notarized deed to the County Circuit Clerk or Recorder's office in the county where the property is physically located. You will need to pay the applicable recording fee.
No, a quitclaim deed only transfers the property title. It does not transfer or eliminate your financial obligation to pay the mortgage. You remain responsible for the loan unless the lender agrees to a refinance or assumption by the new owner.
Arkansas does not have a statewide real estate transfer tax, so you will only be responsible for the county's standard recording fees when you file the deed.