What type of deed would be used when someone just wants to release whatever interest if any he has?
The quitclaim deed, also called a non-warranty deed, offers the grantee the least amount of protection. This type of deed conveys whatever interest the grantor currently has in the property—if any.
What is a warranty deed in Georgia?
A Georgia general warranty deed is used by a seller (grantor) of property to transfer and guarantee title to a buyer (grantee). This type of deed includes a guarantee from the seller that he or she owns the property free and clear and has the legal authority to sell the property.
Who pays real estate transfer tax in Georgia?
The seller
The seller is liable for the real estate transfer tax, though frequently the parties agree in the sales contract that the buyer will pay the tax. O.C.G.A. 48-6-1.
How does a quit claim deed work in Georgia?
Updated November 9, 2020 | Legally reviewed by Susan Chai, Esq. A Georgia quitclaim deed transfers all ownership and interest in a property from one person (the grantor) to another person (the grantee). Quitclaims are used to verify that one party relinquishes (“quits”) their interest in the property.
How much does it cost to file a quitclaim deed in Georgia?
Moving Forward
| Type of Document | Prior Fee Structure* | New Fee |
|---|---|---|
| Deed of Transfer (e.g., Limited Warranty Deed, Quitclaim Deed) | $10.00 for the first page, $2.00 for each add’l page | $25.00 |
| Security Instrument or Modification of Security Instrument (e.g., Security Deed, ALR) | $10.00 for the first page, $2.00 for each add’l page | $25.00 |
Who benefits the most from a warranty deed?
The buyer
The buyer, or grantee, of a property benefits the most from obtaining a warranty deed. Through the recording of a warranty deed, the seller is providing assurances to the buyer should anything unexpected happen.
How much is a deed transfer tax in Georgia?
$1.00 per thousand
The State of Georgia Transfer Tax is imposed at the rate of $1.00 per thousand (plus $0.10 / hundred) based upon the value of the property conveyed. Example: A property selling for $550,000.00 would incur a $550.00 State of Georgia Transfer Tax.
How does a quick deed work in Georgia?
A quit claim deed in Georgia transfers the seller’s (grantor) interest in a property over to a buyer (grantee). However, it gives none of the guarantees that might be found in another type of deeds.
Where do I file a quit claim deed in Georgia?
The completed quitclaim deed form must be submitted to the Georgia Clerk of County, where the property is located.
Is Georgia a tax deed state?
Georgia is a “redeemable tax deed” state. This is also referred to as a hybrid tax certificate. When investing in Georgia – the Peach State, you attend the tax-defaulted property auctions and bid on properties.