| Real estate deeds are part of the process of | | | | should require that title insurance be issued |
| taking title in a property. Title is the | | | | in conjunction with this deed. |
| right to hold an ownership interest in a | | | | |
| property, the right is transferred through a | | | | -Quitclaim. If the seller offers this type of |
| deed. There are several common forms of | | | | deed, buyers should understand that a |
| deeds. Review the type of deed that you will | | | | quitclaim offers them the least protection of |
| receive from the seller of the property you | | | | any deed type. |
| are purchasing with an experienced real | | | | |
| estate attorney. | | | | -Deed in trust, reconveyance deeds, and deeds |
| | | | executed pursuant to a court order are unique |
| -General warranty deed. This type of deed | | | | deeds and you should consult an attorney |
| ensures the grantee (buyer) the greatest | | | | about their use in your state. |
| protection. Investigate the laws in your | | | | |
| state pertaining to this deed type. | | | | -In most states basic deed requirements |
| | | | include; the seller has the legal right to |
| -Special warranty deed. This deed type offers | | | | transfer the property, an identifiable buyer, |
| the buyer two guarantees from the seller. The | | | | a clause from the seller (grantor) conveying |
| first guarantee is that the seller received | | | | the property to the buyer (grantee), a legal |
| title and the second one guarantees that the | | | | description of the property (usually from a |
| seller did not encumber (anything that lowers | | | | survey), consideration (something of value), |
| the value, use or enjoyment) the property | | | | and the signature of the seller. The seller |
| during the time the seller owned the | | | | must deliver a deed to the buyer and the |
| property. | | | | buyer accepts. When all of these steps are |
| | | | completed the title to the property will be |
| -Bargain and sale deed. Has few warranties | | | | passed from the seller to the buyer. |
| offered by the seller to the buyer. Buyers | | | | |