P19 – Preparing a Quit Claim Deed for Ohio
0:03
OK, I’m going to show you how to prepare a quitclaim deed. I know I’ve done a couple of these already, I think, for California, and this one is for Ohio.
0:11
And I just want to show you, again, it’s very similar, simple process.
0:18
The interesting thing is, many of you that are wanting to deed over the title, to your Property, you’ve already have a quick claim Deed, because that’s how you get the title in the first place right from the from the seller who sold you the property. So, if you go back and look at your documents, if you can find them, you’ll find a quitclaim deed. And if you can’t find your documents, that, you don’t have them, you can go in the county records in your county.
0:40
And you can look under the, probably the street address and where the mortgage is recorded. Maybe if there’s a mortgage.
0:48
And you can find the quitclaim deed.
0:52
It should have been filed because it was probably notarized and it has to be recorded.
0:56
So you can find anybodies quitclaim deed, and you can get this document. It’s a one page document.
1:01
I mean, it could be a 50 page document, but really, all you’re doing is quitting the claim on the title.
1:07
And a reason to do that, would be, if I don’t want to have my personal liability, where my name is on the title, attached to the property.
1:17
So if I might in the future, have a judgement lien, or a tax lien, or things like that, anything on public records, I would probably not want to have real estate in my name.
1:28
So a quick claim deed is the surest way to get get out of certain types of liability these types of claims. That’s a sure way to do it.
1:36
I mean, there are other ways you can, actually, uh, you can use Equitas stripping.
1:41
Where are you record a lien, OK?
1:44
You can record a mortgage lane and strip the equity, that’s a little bit more involved, but here, I’m just going to show you.
1:51
So, you see here, I’ve got, here’s what I was going to show you, where I found the … found this. On the internet. Now, sometimes, you can just search for this document. I don’t like to pay form. It’s ridiculous. I mean, it’s a document that you can make yourself. It depends on how much time you have. I mean, if you want to pay for it, it’s probably 10 bucks, right. But then if you buy it, you gotta give up your information. Your contact information. Then you’re on a mailing list. It’s just a nuisance. so I’d like to just go find it for that purpose.
2:21
And in this case, I found a PNG formatted quitclaim deed for Ohio.
2:27
Now, it is not necessary that it cites a particular statute, I think this means Ohio Revised Code, ORC.
2:33
It’s just important that if you’ll notice in the top right corner, this space, usually it’s 2 or three inches from the edge of the paper.
2:42
And it’s where the clerk of the court, or the County Recorder’s Office or Bureau of Conveyances, however it’s called, where you are, that’s where the recording date and time is a fixed width. Stamper, Seal, and maybe a tracking number or something like that.
2:57
Then over here is, you know, on the left side, whoever prepared it. This can be anybody. I mean, it doesn’t matter, You can make up a name.
3:05
It can make up an address.
3:07
What you really want to do is put the correct information here, because the clerk will record this and send you back the original.
3:13
And then from that point on, if you ever need to show a quick claim deed, you can ask for a certified copy forever. You don’t ever need to show the actual original.
3:22
So, as you can see, this is for Ohio, and it’s for whatever county in Ohio, because there’s lots of different counties for State, right?
3:29
And pretty much this language is on, is almost the same, everywhere, in the country.
3:34
Now, over here, where we have the three lines, that’s going to be the legal description of the property. If you don’t know what that is, you can again, you can find it on public records, you can find it with your tax appraiser’s office.
3:45
Usually, it’s on the Internet, I mean you can search on the Internet for the name of your county and the Tax appraisers office in your state and then you’ll, you, can look up your property or a property one that you want to find that, may not be yours. For. some reason, you can find the legal description of that property, OK.
4:00
All right, um, now you’ll notice this document that I got off the internet.
4:05
It does not have a place for jeer at where I can have my signature notarized, I think you should have it notarized. I think that’s the proper way to do it. So, maybe this is the first page of, maybe the second page had the jouret on there, OK? So let’s just go over to the document I have, Now, this document I probably got from my, my own database that I use, and all I did so far, as you can tell. I just put any old name there, OK?
4:32
And then I went and copied some elements from this other document, that’s all you’re doing.
4:37
See, I just put Ohio here and then, it’s going to be county of, I don’t even know what county it’s going to be in.
4:47
Who cares right? Then.
4:53
There’s consideration for some of zero dollars, now, in this case, I’m going to do a quick claim deed. And Pretty much all the time I do these, it’s going to be for estate planning, is what I’m normally doing. I’m not going to sell the property in this case.
5:06
so, I’m just gonna put zero dollars, and It’s paid to the seller, right? And you put the seller’s address and all this stuff.
5:17
You can see how it’s all.
5:18
Just, you can just type it out, OK?
5:20
You can just start this document from a blank page. In fact, you don’t even need all these lines here.
5:26
If you know how to make them fine, I mean, it’s not that important. You just leave enough space, right? It’s not that complicated.
5:32
Um, and I’m gonna deeded over to an LLC. As, you know, me, I’ll get a more than likely, do that almost every time. And, then, I’m gonna say what it is. I don’t have to say what it is, because this says what it is, LLC, right. But, I just add this here, to be redundant. You don’t have to.
5:48
Um, sometimes you don’t want to say what state it’s from.
5:53
It’s, you know, it’s, it depends on the situation. So, I’m gonna deed over all my interests, OK?
5:59
To this LLC now, it can be used in a couple of ways, if I’m gonna do a deep quitclaim deed like this, I’m going to retain beneficial interests More than likely that just means, if I’m the title holder, and I felt like this quitclaim deed to my LLC and even if the LLC is owned by an association or trust or something, I’m still going to have, I still care about the property, right?
6:23
So I still retain the beneficial interest, but I don’t want my name on the title. That is where you have the risk, that’s the liability. OK, so that’s all I’m doing here. So I can, the reason I’m saying it though, is because I can still get whatever tax benefits there are.
6:38
Because I retain beneficial interests. But at the same time, I’m not going to.
6:43
I have my personal liabilities attached to the property.
6:47
Now, this doesn’t mean you’re not having to pay property taxes, so that’s still going to be, you know, a bill that you have to pay.
6:55
Um, yeah, there’s, there’s no real consideration here.
6:58
So, now, here, I put being all of legal description, I just, this is a, a phrase that comes with the document.
7:06
That phrase is going to be, really be the three lines you see here in this other original document. That’s the legal description, Now. Sometimes your legal description, it might just be one sentence.
7:17
It may also be two pages. I’ve seen it, you know, very elaborate legal descriptions, it can be longer than that.
7:22
So, if it’s lengthy, then you just want to refer to Addendum A or exhibit A, or something like that. And then, right after this, Jeer at, you would put us another, in this case, a second page, and that would be the actual legal description.
7:37
And, as you can see here, you know, I need to make this Ohio.
7:42
And then, whatever county I want, again, make sure this is correct, and then have it notarized and you know, you can edit this document. You can use MS Word, you can you can literally copy and paste the text, you have to retype it.
7:56
And so what I’ll do, I’m just going to save it, and it’s ready to be edited, finally, when I’m finally going to go use it.
8:06
Yeah, not that complicated. It’s a quick claim to your quitting your claim on the title.
8:11
Conveying it over to some other thing, person, entity, for whatever reason. All right.
8:19
Hope that helps make it easy for you.