Comparing Real Estate Deeds; Quitclaim Deed, Grant Deed, Warranty Deed
There are several types of deed and states often use different ones for conveying property based on their customs and laws.
A "deed" is just another a legal document in template format that transfers title from one person to another. The deed is like the bridge connecting two land masses, the dead is only a record of the transfer. In order to be legal, deeds must be filed and recorded into the public record.
A "deed" is just another a legal document in template format that transfers title from one person to another. The deed is like the bridge connecting two land masses, the dead is only a record of the transfer. In order to be legal, deeds must be filed and recorded into the public record.
Quitclaim DeedA Quitclaim Deed is the most basic type, it literally states that one person is "quitting any claim to a property," that is all. There are no guarantees or promises whatsoever, known or unknown. The property is transferred “as is,” with whatever liens or encumbrances, known or unknown, that are on the property.
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Grant DeedA Grant Deed is more protective to a buyer than a quitclaim deed, but less protective than a warranty deed. The Grant Deed is the delivery of title of a property to with guarantees that the property has not been sold to anyone else and that the property liens or encumbrances, that have not been disclosed.
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Warranty DeedThe Warranty Deed offers greatest amount of protection to the buyer of any property. This deed guarantees that the Seller is the rightful owner of the property with the legal right to sell, the property is free and clear of all liens and outstanding claims, and there are no other claims to ownership of the property.
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