Carl Glendon

3 Types of Real Estate Deeds to Know About

A real estate document that is used for ownership transfer is referred to as a 'Deed'. Almost all types of deeds are of the same type in form, as all of them can be used for ownership transfer to buyer from the seller. However, the accompanying T&C may vary to some extent. Based on this, real estate deeds are commonly of 3 types. The term 'Grantee' refers to the buyer while the term 'Grantor' means the seller. Here are 3 types of real estate deeds that you should have an idea about.

Warranty Deed

This is the commonest type of real estate deed, where a seller pledges that he has full authority to sell the piece of property in question. This is why a warranty deed template is also referred to as 'Full Covenant'. This indicates that the grantor is offering specific warranties associated to the ownership itself as well as the property title. Please visit this site to get a quitclaim deed form in Arizona.

Quit claim deed

As the name indicates, this type of legal deed is restricted to the ownership transfer to some other party. In other words, the grantor relinquishes his right on the property. Usually, a Quitclaim Deed in New York comes minus any warranty, which means that the grantor simply gives his rights up without offering any guarantee about the title accuracy. This makes a quit claim deed a comparatively insecure deed.

Grant Deed

Other than printable quit claim deed, there is also the 'Grant Deed'. This type of deed works quite similar to a Warranty deed. In a few cases, however, it has lesser guarantees than the latter one. Grant deeds are used most commonly for real estate deeds in many states in the US. Although the notarization is not necessary by law, it is still legally certified by people to be on the safe side.

Author Resource:

Carl writes often about online legal drafting like affidavit, bill of sale and quitclaim deed forms to help the people. You can find his thoughts at general warranty deeds blog. To learn more about drafting a quitclaim deed form in Idaho online, visit this website.