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What is the “Consideration” as Requested on a Deed?

Generally, some consideration — a dollar amount or something of value provided in exchange for the transfer of a property — is required to complete the Quitclaim Deed form prior to submission.

Since some value must be provided, a nominal consideration is usually recommended. You may select any dollar figure from $1 up to the actual value of the property as the consideration listed, since some form of consideration usually is required to transfer a property. However, the consideration amount need not be the actual value of the property.

To create a Deed on your own without the help of an attorney, see Standard Legal’s Quitclaim, Warranty and Survivorship Deeds legal forms software page.

Quitclaim and Warranty Deed Questions  ·  August 26th, 2010

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