An Arkansas deed is used to legally transfer a property title from a grantor (previous owner) to a grantee (new owner). Different deeds provide the grantee with varying levels of security. For example, a warranty deed will provide the grantee with a guarantee that the title is clean, free of any encumbrances or ownership claims. A quit claim deed, on the other hand, provides no such assurances and is usually reserved for transfers between family members or trusted friends.
Before a deed is deemed valid, it must be notarized and signed by two (2) disinterested witnesses, after which it may be filed with the local circuit court.
Beneficiary Deed – Otherwise known as a “transfer on death deed,” this document transfers the title of a property to a designated beneficiary upon the current owner’s death.
Deed of Trust – A transfer of property where a lender will provide a loan to a buyer while a trustee will hold the property’s title until the loan is repaid.
General Warranty Deed – A secure deed that assures the grantee that the property title is free of any encumbrances.
Quit Claim Deed – This deed offers no protection to the purchaser and transfers the title as-is.
Special Warranty Deed – Provides a guarantee by the current owner to the purchaser that there are no encumbrances on the property; however, this does not cover any previous owners.
- Statutes: Chapter 12 – Conveyances
- Formatting: § 14-15-402(b)(1), §
- Signing Requirements (§ 18-12-104 & § 18-12-201): Notary public and two (2) disinterested witnesses
- Where to record (§ 14-15-404(a)(1)): Circuit Court
- Recording fees (§ 21-6-306(a)): $15 for the first page, $5 for each additional page
- Arkansas Real Property Tax Affidavit of Compliance Form: The Department of Finance and Administration states that the Real Property Transfer Tax must be paid on each deed that conveys real property. The rate is $3.30 per $1000 and must be paid and submitted with this document.