• Learn the Louisiana quit claim deed laws.home sweet home image by David Dorner from Fotolia.com
  
  A deed is the certificate of title or ownership in a piece of real property. The person or persons listed on the deed have the right to that property and to receiving a portion of the proceeds when the property is sold. Sometimes, however, it becomes necessary or desirable for one or more of the parties to relinquish their interest in the property, and at this time a quitclaim deed can be filed that will allow one or more of the parties to release the remaining parties from any liability as it pertains to their ownership of the property. The state of Louisiana recognizes quitclaim deeds in a number of cases.
  
  

Divorce

• One common use of a quitclaim deed is when a couple is divorcing. One of the spouses may want to relinquish their share of the title. To do so in Louisiana, you must fill out the proper form and have it signed and notarized, then file it with the county or parish in which the property is located. After doing so, the county will reissue the title with the name of the other owner as the sole interest in the property.
  
  

Grantor and Grantee

• The grantor is considered to be the person giving up interest in the property, while the grantee is the person whose name remains on the title. When it comes to a quitclaim deed in Louisiana, the grantor can be an individual, a company, a limited liability corporation or LLC, or a group of individuals. The grantee likewise also could be any of the above entities. Therefore, property rights can be transferred between any number of individuals or corporations.
  
  

Mortgages and Quitclaim Deeds

• It is important to note when filing a quitclaim deed that you are not giving up your portion of the responsibility for the mortgage, if any exists on the property. Consider carefully before agreeing to a quitclaim deed arrangement, since you will still be responsible for payments on the property but no longer have property rights. Therefore, if the grantee defaults, you may be held liable by the mortgage company that holds the title.