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We can prepare your NJ deeds the SAME DAY!!!*

Preparing a New Jersey Deed

with a special explanation about Quit Claim Deeds

So, what is a deed?  As it relates to real estate, a deed is a legal document prepared by a lawyer, which when signed by the seller, conveys title to the property to the buyer.  In that way, it is similar to the title to a car.  It proves ownership, and is the document we use to convey title to real estate to another party.  The deed, along with other incidental paperwork, gets recorded with the County Clerk and becomes part of the official land records. The two most common types of deeds are the “Bargain and Sale” deed, and the “Quit Claim” deed (often mispronounced as a “quick-claim” or “quick claim deed”).  In some states, a Bargain and Sale deed is referred to as a “warranty deed,” or a “special warranty deed.” Whatever its name, it is the deed used in a typical, arms length real estate sale because the seller makes certain representations to the buyers, such as there being no other persons with a legal interest in the property, and there being no liens or mortgages on the property, except those that are being paid-off and removed from the proceeds of the sale.

The NJ Quit-Claim deed (or “quick-claim deed”) makes no such representations, and is sometimes referred to as a “dollar deed” because it is used within families, or for matrimonial or divorce transactions, where the consideration is stated as being One Dollar ($1.00).  DO NOT USE A QUIT CLAIM DEED when buying or selling real estate at its fair market value!  Also, we strongly recommend getting title insurance even though the transaction may be between family members.

When two or more people are going to own the property together, both names need to be on the deed as “grantees.”  A grantee is the person buying the property.  The grantor is the person selling the property. So, you might ask, “How should how you and another person hold title to the property.”  There are three choices and are discussed in great detail using the following link: How to Hold Title to Real Estate.

Our cost to prepare a typical Quit Claim deed is $455.00.  Same day deeds often require payment of a small premium. The typical cost to record NJ deeds with the County Clerk is ninety to one hundred dollars ($100.00) depending on the number of pages.  The seller also has to pay a realty transfer fee (really a tax) which is based on a sliding scale based on the selling price of the property.  For example, the transfer fee on a $350,000 sale is approximately $2,105, $1,325 on a $250,000 sale, and $975 on a $200,000 sale. If you are 62 years of age or older and it is your primary residence, the fee on a $250,000 sale goes down to $400. If there is a mortgage on the property, the County Clerk may want you to pay the tax even if there is no money changing hands.  These fees are consistent throughout the state, and not limited to Southern New Jersey real estate transactions.

* Obviously, we would need to get started fairly early in the day, and we will generally need a copy of your current, recorded deed to get the deed done quickly.  Also, if you are asking for a deed to be prepared for someone other than yourself to sign, we will need to speak directly to that person to make sure they are not being taken advantage of, and to ensure that they know exactly what they are doing and why.  This may slow up the process a bit.

New Jersey Deeds and mortgages are recorded with the County Clerk in the county in which the property lies. Recording fees and realty transfer fees must be paid at the time of recording and are periodically increased. County Clerk contact information and links to their web sites are set forth below:

Burlington County Clerk
49 Rancocas Road
Mt. Holly, NJ 08060
609-265-5122

Camden County Clerk
Camden County Courthouse
520 Market Street
Camden, NJ 08102
856-225-5300

Ocean County Clerk
118 Washington Street
Toms River, NJ 08754
732-349-4336

Out-of-State Property.  A substantial amount of our NJ deed preparation work comes from non-New Jersey attorneys who have clients that own property in New Jersey.  There are significant advantages for an out-of-state resident to re-title their New Jersey real estate into the name of a living trust.  Ask your local attorney about those advantages, and we will prepare the New Jersey deed for you.

Disclaimer: Although I am an attorney licensed to practice law in the State of New Jersey, the information on this website is for general information purposes only and is not to be construed as legal advice. Every situation is different and there are many exceptions for every legal principal or rule. You must consult with an attorney licensed to practice law in your jurisdiction for help and advice. If you reside in the State of New Jersey, I can provide you with that legal advice, however, it needs to be done in person, by telephone, or by video conferencing.

 

We are a law firm in Medford, NJ which is not to be confused with Medford Oregon.