Colorado Quitclaim Deed to Remove Multiple Owners

A Colorado Quitclaim Deed form deed can be used to remove multiple owners from a Colorado timeshare title.  For example, let's say that four individuals are all in title to the same Colorado timeshare, and three of the individuals want to give the timeshare to the fourth.  In this example, all three individuals who want off title would execute separate, Colorado Quitclaim deeds to the fourth individual.

Changing the example a little, let's say all four owners wanted to transfer ownership to a fifth individual.  In this example, all four owners would execute separate, Colorado Quitclaim deeds in favor of the fifth individual -- the new owner.  There is no need to have a single, Colorado quitclaim deed making the transfer.

Special Colorado Quitclaim Deed Cases

Where transfers by a Colorado Quitclaim deed form can get tricky is if there is more than one new owner or more than one remaining owner.  Most Colorado quitclaim deed forms are attempting to transfer the entire interest in the property not just the interest of the one owner/grantor.  That's is why you may see Colorado Quitclaim deeds with the language "Grantor hereby conveys to Grantee an undivided 1/4th interest in the following property to Grantee" in the case of 4 owners.  The "undivided XX interest" changes according to how many people currently own the property, assuming that is what they actually own.  The exact fraction of ownership is based upon what the original deed gave to each owner.

While a Colorado Quitclaim deed form may be technically incorrect for transfers of real property to a single, new owner from multiple, former owners, it works because all the old owners are deeding the entire interest in the Colorado real property to a single new owner.  If the example is changed a little, problems occur.  Let's say one of four Colorado timeshare owners wants to transfer his interest to a new, fourth owner.  Using a one person to one person Colorado Quitclaim deed form can be a problem if the form does not specify a transfer of an undivided 1/4th interest, and that is assuming the person making the transfer owns an undivided 1/4th interest.

Seeking Legal Advice

Transfers to/from multiple owners by a Colorado Quitclaim Deed form can be tricky.  If you have any doubt, it is wise to pay a lawyer to do it right AND get title insurance.

New Colorado Beneficiary Deed

DeedMonkey is proud to announce the release of the Colorado Beneficiary Deed for Spinnaker at Lake Dillon timeshares. The deed has been created with the specific legal description for Spinnaker at Lake Dillon timeshares to assist Spinnaker timeshare residents with completion of the form.

Also included with this customized Colorado Beneficiary Deed Package is:

• Filing Instructions for Summit County Colorado Beneficiary Deeds
• Transmittal form for Summit County
• Colorado Beneficiary Deed Checklist
• Selected Colorado Statues to assist in the completion of the Beneficiary Deed

If you are a timeshare owner who is considering completing a beneficiary deed for your timeshare, please view our earlier blog post which covers why Colorado timeshare owners should have a beneficiary deed. Within that blog post, you'll discover that not having a Colorado Beneficiary Deed for your timeshare can be a source of major headaches.

Colorado Beneficiary Deeds for Others (non-Spinnaker Beneficiary Deeds)

If you aren't a Spinnaker Timeshare owner - be sure to check out our generic Colorado Beneficiary Deeds. If you're a timeshare owner for a property other than Spinnaker at Lake Dillon - be sure to see if your property is listed in our Colorado Timeshares Legal Forms section. If you don't see your timeshare listed, be sure to send us an email and/or contact your property manager so that we can create a customized deed that will meet your needs.

Colorado Statement of Authority Explained

Any transfer of Colorado real property to a trust should probably include a Colorado Statement of Authority. A Colorado Statement of Authority is a document very specific to Colorado real estate law. The Colorado Statement of Authority is defined by statute (included in the Colorado trust deed purchase package). The Colorado Statement of Authority identifies the proper name of the trust, the trustee(s) and the person(s) who may convey the Colorado real property.

We are happy to announce that we will soon be making available a generic Statement of Authority as part of the DeedMonkey trust transfer package. The package will include a generic statement of authority form along with two Statement of Authority Forms which are specifically designed for trusts.

Colorado Quitclaim Deed and Marketable Colorado Title

Colorado Quit Claim Deed Question

A Colorado Quitclaim Deed question that often times comes up is - Does a Colorado Quitclaim Deed promise Marketable Colorado Title?

Answer

In fact, a true Colorado quit claim deed does not promise marketable title. In fact, A Colorado quitclaim deed promises very little. The essence of a Colorado quitclaim deed is the lack of promises. The grantor (i.e., the person making the transfer) is simply transferring whatever he/she currently owns without making any particular promises.

Florida Quitclaim Deed Filing - Easy to Follow Steps

Learning how to record a Florida quit claim deed is like anything else. It is easy once you do it a few times. Here are some key points to remember:

• Properly execute your Deedmonkey Florida quit claim deed form.
• Pay the transfer tax using the Deedmonkey Florida resource guide links to the appropriate clerk of court.
• Send your properly executed Florida quit claim deed form to the proper Florida county clerk of court for recording along with the recording fee, any documentary transfer tax (the stamp tax).
• Confirm that your Florida quit claim deed form was properly recorded.

Get to Know Your County's Clerk and Recorder's Office

Most Florida counties have a clerk and recorder’s office - the county clerk of courts. That is where Florida quit claim deeds are typically filed. The procedures for recording a Florida quit claim deed differ from one Florida county to the next. It is a good idea to use the Deedmonkey resource links to find the exact information for each Florida county and then call the Florida county to verify the procedure (you can access the resource guide once you purchase the Florida quit claim deed form).

The clerk of courts can tell you how to record a Florida quit claim deed form, the proper recording fee and whether a documentary transfer tax is due. However, the Florida county clerk of courts cannot tell you how to draft the quit claim deed. So, please be polite and don’t ask that question.

As a side note, do your homework before calling the clerk of courts. In our experience, the clerk's staff are MUCH more helpful if you start the conversation with, "I have reviewed your website for information on how to record a Florida quit claim deed, and I have a few questions ... ."

Mail the properly executed Florida quit claim deed form to the correct Florida county along with the recording fee, the documentary transfer tax, payment of any transfer tax and a self addressed stamped envelope for return of your recorded Florida quit claim deed.

Florida Quit Claim Deed Mistakes

Many people have trouble filing their Florida quit claim deed and commit the following errors:

• Sending their Florida quit claim deed form to the wrong county
• Forgetting to include a check for the recording fee of their quit claim deed
• Forgetting to include a check for the state documentary transfer tax that applies to Florida quit claim deeds
• Not making the check payable to the correct payee
• Even something as simple as forgetting to sign the check can get the filing of your Florida quit claim deed off track

Florida Quit Claim Deed Filing Confirmation

This why it is very important to confirm your Florida quit claim deed form was properly recorded by examining the recording stamp and reception number. Just because you mail your Florida quit claim deed to the clerk does NOT mean that the Florida quit claim deed was actually recorded.

The Deedmonkey resource guide contains links to many Florida counties and in particular the clerk's office for many Florida counties. Most of these county websites have a county-specific checklist for you to use and follow.

We suggest you ALWAYS check the Deedmonkey resource guide, locate the Florida county links and follow the instructions for that county. When in doubt, give the clerk a call.

Florida Quitclaim Deed Form Gotchas - Transfer Fees May Vary!

Besides a Florida transfer tax and Florida county recording fees, other entities may impose a fee on the transfer of Florida real property by Florida quit claim deed. Here are just some examples to consider:

• Florida real estate in a beach resort may be subject to a transfer fee levied by the resort.
• Florida timeshare associations almost always has a fee imposed by the timeshare association on any transfer of real estate by Florida quit claim deed.
  
• A master homeowners’ association may impose a transfer fee pursuant to the recorded association documents.

While these fees may not be imposed or monitored by the county clerk of courts, failure to pay these fees can cause some problems for both the grantor (the person transferring the real property by Florida quit claim deed form) and the grantee (the person(s) receiving the real property by Florida quit claim deed.

So, there you go! We hope this helps you get your Florida quit claim deed recorded in the proper county.

Colorado Quit Claim Deed Types

There are several variations of the DeedMonkey, Colorado Quitclaim Deed Form. In this post, we'll give a brief overview of each.

Colorado Quitclaim Deeds we offer involve  variations on transfers from one or two individuals to one or two individuals.

Colorado Quit Claim Deed Joint Tenancy

One of the issues to consider when transferring Colorado real property by quitclaim deed to two owners is whether to make the transfer in Joint Tenancy or as Tenants in Common.

Joint Tenants With Right of Survivorship Defined

When using a Colorado Quitclaim Deed form, a transfer in Joint Tenancy or "Joint Tenants With Right of Survivorship" (JTWROS) means that upon the death of an owner (a Joint Tenant), the deceased owner's interest in the real property automatically passes to the remaining joint tenants. No Colorado probate is necessary to convey the deceased owner's interest in the real estate. However, a certified death certificate and perhaps a supplemental affidavit must be recorded in the real property records to properly document the death.

The Image to the right is actually a screenshot of one of our Colorado Quitclaim Deeds with Joint Tenancy With Right of Survivorship JTWROS. The portion of the quit claim deed form which is highlighted is the section which references the JTWROS.

Timeshare Owners Take Note:
Colorado Beneficiary Deeds are Superior to Trust Transfers

The traditional method to avoid Colorado probate for Colorado real estate is to transfer the Colorado timeshare to the owner's trust or corporation. The better solution is a Colorado Beneficiary Deed.

The Trouble With Trusts for Timeshares

Many Colorado timeshare owners do not understand that a transfer to a trust or corporation can trigger significant documentation requirements by the Colorado timeshare association. For example, the Association should require a copy of the trust, complete disclosure of trustees incuding address and telephone number and a RECORDED statement of authority. Many of these transfers to trusts and corporations result in unmarketable title.

Colorado Beneficiary Deed is Hassle Free

The solution to the stringent documentation requirements is a Colorado Beneficiary Deed. A Colorado Beneficiary Deed does not change any ownership until the death of the current owner. At that time, the Colorado timeshare passes directly to the new owner. All that is required is a recorded death certificate and a supplemental affidavit.

Colorado Beneficiary Deeds for Timeshare Owners

While we do offer our Colorado Beneficiary Deed here at DeedMonkey, we also offer many Timeshare Specific Beneficiary Deeds which are customized to your specific timeshare. See our current list of timeshare legal forms for more information. If you don't see your timeshare listed, be sure to contact your timeshare owner directly. We can customize a Colorado Beneficiary Deed for most timeshares by request.

As local governments look for any and every source of revenue, the cost of recording a Colorado quitclaim deed is on the rise.  It is not just Colorado quitclaim deeds that are subject to the fee increase.  Colorado warranty deeds, Colorado special warranty deeds and all other documents with multiple grantors or grantees are seeing an increase.

Recording Fees Increase: Eagle County, Garfield County, Others?

We first received notice of the increase from Eagle County, Colorado.  Pursuant to C.R.S. 30-1-103(4), an extra fee is being tacked on to Colorado quitclaim deeds containing multiple grantors or grantees.  This is $5.00 PER every additional grantor or grantee.  Recently, Garfield County, Colorado has joined the increase in fees on Colorado quitclaim deeds.  We suspect that other counties may have already raised their recording fees, but we have not received an official notice.

Always Double Check With the County Prior to Filing

For access to the recent letter from Garfield County containing examples of the recording fee increases on Colorado quitclaim deeds, please log into your account with DeedMonkey.   We advise to always call the county to confirm the filing fee BEFORE mailing your Colorado quitclaim deed.  This is a good practice for all filings including Florida quitclaim deeds and quitclaim deeds for any state.

For More Colorado Quitclaim Deed Information

For more information about Colorado Quitclaim Deeds and the rate increases, visit our official Colorado Quitclaim Deed page

A Common Question About Colorado Beneficiary Deeds

A question we hear is "why don't you have a Colorado beneficiary deed for joint owners of Colorado real estate?"  The answer is twofold.  First, it is just about as easy for each grantor of a Colorado beneficiary deed to name the beneficiary(ies) of their respective interest.  It keeps things simple.  For example, a husband and wife who own a Colorado timeshare in joint tenancy and who would like to give their interest to Son A upon their deaths would each execute and record a Colorado beneficary deed naming Son A as the beneficiary.

Second, keep in mind that a Colorado beneficiary deed does not override Colorado joint tenancy.  Upon the death of the first of the joint tenants to die, the Colorad real estate passes to the surviving joint tenant and NOT to the person named on the Colorado beneficiary deed.  So, in the above example, If husband dies and wife survivies, the Colorado timeshare would pass by joint tenancy to wife.  Only upon wife's death will WIFE's beneficiary deed become effective.  Husband's Colorado beneficiary deed is of no force and effect. 

For more information, please see the DeedMonkey Colorado Beneficiary Deed page.

There are many types of deeds.  There are General Warranty Deeds, Special Warranty Deeds, Bargain and Sale Deeds and Quitclaim deeds, just to name a few.  So what is the difference?

The biggest difference is probably what the grantor is promising the grantee.  While this may vary from state-to-state, a General Warranty Deed is a big promise from the grantor to the grantee about the real property being transferred -- the status of the title.  Depending on the state, this type of deed makes the most promises about the quality and marketability of the title.  That is why a General Warranty Deed will list exceptions to the title towards the end of the deed.  For example, there may be a phrase at the end of the deed like this:  "together with all appurtenances, subject to taxes for the current year and encumbrances of record."  This is a short hand way of saying, I will make certain promises, but property taxes are paid in arrears and there may be easements granted to the utility company or a homeowners association document may limit your rights or ??? recorded in the real property records, and it is up to you to see what is of record.

On the other end of the spectrum, there is the Quitclaim deed.  Typically, a Quitclaim deed makes NO PROMISES about the status of title.  Properly drafted, a Quitclaim deed is saying I am giving you what I have, whatever that may be.  No promises.  So, listing exceptions to title, like in a General Warranty Deed, may not really be necessary.  However, some Quitclaim deeds still list the obvious exceptions. 

Some states have something called a transfer on death deed,  In Colorado, a beneficiary deed is probably the equivalent of a Colorado transfer on death deed.

In addition to any method allowed by law to effect a transfer at death, title to an interest in Colorado real property may be transferred on the death of the owner by recording, prior to the owner's death, a beneficiary deed signed by the owner of such interest, as grantor, designating a grantee-beneficiary of the interest. The transfer by a beneficiary deed shall be effective only upon the death of the owner.  A beneficiary deed need not be supported by consideration.

In Colorado, "Beneficiary deed" means a deed, subject to revocation by the owner, which conveys an interest in real property and which contains language that the conveyance is to be effective upon the death of the owner.  "Deed" means any instrument of conveyance of real property.  "Owner" means the grantor of a beneficiary deed.

It is a quitclaim deed -- not a quick claim deed.  The individual making the transfer to the new owner "quits" his or her "claim" to the real property and does not any representation that the transferor owns anything or is transferring marketable title. The grantor makes no guarantee that he is transferring good, indefeasible or marketable title. The grantor is simply stating “whatever I have I am giving to you, and nothing more.” The phrase quick claim deed came about through a misconception about the need for legal advice, i.e., that by using a quick claim deed, the parties do not need a lawyer and can make the transfer quickly.

Quitclaim deed law is state specific.  In a broader sense, real estate law is state specific.  A Quitclaim deed valid in one state may be void in another.  For example, Colorado does not require witnesses to the execution of a Quitclaim deed (or any real estate deed, for that matter).   Florida requires two witnesses to a Quitclaim deed otherwise the deed is void.   

Here is another example.  Florida recognizes something known as tenancy by the entireties.  Tenancy by the entireties is a form of property ownership between husband and wife.  However, did you know that there are at least four different versions of tenancy by the entireties across the United States?  A tenancy by the entirety will have different legal implications in different states. 

We make this point because the Internet gives people access to all sorts of information from all over the world.  However, the local governing body defines the meaning of legal terms.  The meaning of legal terminology is not uniform.  Interpreting the meaning of a legal term requires understanding how that term is used and defined in the specific locality. 

What is the difference between a Colorado quitclam deed and a Colorado warranty deed?  Well, one makes representations about the condition of title and the other does not.

In a Colorado warranty deed, the grantor (seller) makes promises to the grantee (buyer) about the condition of title.  Those promises vary based upon the particular situation.

In a Colorado quitclaim deed, the grantor makes no promises about the condition of title.  The grantor is simply transferring whatever rights he or she has in the real property to the grantee. 

Colorado imposes a state documentary tax on every person offering for recording in the office of the county clerk and recorder any deed or instrument in writing wherein or whereby title to real property situated in Colorado is granted or conveyed.  This includes transfers on Colorado Quitclaim deeds.  Technically, the Colorado state documentary tax is referred as a "documentary fee", measured by the consideration paid or to be paid for such grant or conveyance, which documentary fee is in addition to any other fee fixed by law for the recording of such deed or instrument in writing.

  The amount of Colorado state documentary tax or fee is as follows:

  When there is no consideration or when the total consideration paid by the purchaser, inclusive of the amount of any lien or encumbrance against the real property granted or conveyed and all charges and expenses required to be paid for the making of such grant or conveyance is five hundred dollars or less, no Colorado state documentary tax / fee is payable.

 When the total consideration paid by the purchaser, inclusive of the amount of any lien or encumbrance against the real property granted or conveyed and all charges and expenses required to be paid for the making of such grant or conveyance exceeds five hundred dollars, the Colorado state documentary tax / fee payable is computed at the rate of one cent for each one hundred dollars, or major fraction thereof, of such consideration.

  All Colorado state documentary taxes / fees are payable to and collected by the county clerk and recorder.

Many Colorado municipalities impose a local transfer tax on Colorado quitclaim deed transfers.  Actually, the type of deed (Quitclaim deed, Special Warranty deed, Warranty deed, Bargain and Sale Deed, etc.) does not control whether or not a local transfer tax is imposed in Colorado.  The rules of the Colorado taxing entity control whether or not a local transfer tax is imposed on the Colorado Quitclaim deed.

The Deedmonkey resource guide contains links to the Colorado municipalities that have a local transfer tax in Colorado.  The local transfer tax in Colorado is not the same thing as the Colorado documentary fee.    If a local transfer tax is due to a Colorado municipality, the clerk and recorder may require the local transfer tax to be paid before recording the Colorado quit claim deed.  The Deedmonkey Colorado resource guide will help locate the proper local transfer tax form and access a checklist for paying the local transfer tax in Colorado.  Most cities with a local transfer tax in Colorado are very helpful.  If there is an exemption from the local transfer tax in Colorado, often the Deedmonkey links will link directly to that form.  The Deedmonkey Colorado resource guide on how to record a Colorado quit claim deed or how to file a Colorado quit claim deed contains links to most if not all of the local transfer tax exemption forms in Colorado.

Besides a local transfer tax in Colorado, other entities may impose a fee on the transfer of Colorado real property by Colorado quit claim deed.  For example, Colorado real estate in a resort may be subject to a local transfer fee levied by the resort.  A Colorado timeshare association almost always has a fee imposed by the timeshare association on any transfer of real estate by Colorado quit claim deed (or other deed, for that matter).  A Colorado homeowners’ association can impose a  fee.