What Are The Various Types Of Property Deeds?

A deed is a type of legal document which is used to pass the ownership title of a property from the seller to the buyer. Deeds, in most cases, have to be registered with the city’s County Recorder, the same city where the property is located in. The buyer and the seller sign the deed with the notary being present. Property deeds are of various types, including the following:

General Warranty Deeds

It is the commonest type of warranty deed form. In this kind of deed, the seller makes an assurance that the property interest is not held by any other party, regardless of the exceptions that the deed notes. In case later the buyer discovers any encumbrances that the deed has not disclosed, he / she can take legal action against the seller. Typically, a General Warranty deed is required by title insurance companies before the buyer is granted insurance. Please visit this website for more info about free quit claim deed form.

Limited Warranty Deeds

This kind of deed is just like a General Warranty deed, although it is only used to cover the span during which the property is owned by the present owner. There is no warranty for the previous time period, as the General Warranty deed does.

Quit Claim Deeds

Such a deed is important when an individual wishes to pass on his / her interest in a real estate property to another. The party quits the claim to the real estate. In these deeds, there is no promise made to the buyer that the seller has real interest or ownership in the piece of property. In case the property happens to be encumbered otherwise, the buyer happens to be out of luck. When it comes to where to buy quit claim deed form, you can try the local County Recorder’s office or the local real estate office.

For more information about getting a quick claim deed in Michigan and quit claim deed in Kansas, please visit this website.

Read another blog about general warranty deeds here at – https://generalwarrantydeeds.blogspot.com/

How Does A Quit Claim Deed Differ From A General Warranty Deed Form?

What is a quit claim deed? This is a type of deed that is referred to at times as a “quit claim deed” or a “quick claim deed”. Warranty deeds are also there, both a general warranty deed and a special warranty deed. The deed is used to transfer any interest of the grantor in a real estate property to the grantee. Find out how a quit claim deed varies from a general warranty deed. Please visit this website for more info about quick deed form.

Lawsuit options

Quit Claim Deeds are used when an individual likes to pass his / her interest in the property to another. The party quits his claim to the property. These types of deeds do not comprise of a promise to the buyer that the seller possesses the actual interest or ownership in the property. In case the property is found to be encumbered otherwise, the buyer is out of fortune. In a general warranty deed form, however, a buyer can sue the seller in case it is discovered in future that the deed did not disclose any encumbrance. A General Warranty deed is commonly needed by Title insurance agencies before insurance is granted to the buyer.

Promises

A quit claim deed does not make any form of promise regarding the grantor having a clear title to a real estate property. This type of deed is used only for the transfer of ownership rights of a grantor, without any type of guarantee. A legal document, a warranty deed is used for the transfer of real estate property. Once a house is sold, such a deed is typically used for property transfer. It consists of a guarantee to the buyer from the seller that the latter has outright, encumbrance-free ownership of the property, and the seller possesses the right to transfer clear and full title to the buyer.

For more information about getting a quit claim deed in Indiana and quit claim deed form in Texas, please visit this website.

Read more articles about free quit claim deed here at – http://www.24article.com/filing-a-quit-claim-deed-in-california-what-are-the-requirements.html