A deed is a legal document that transfers the ownership of assets or property from one person to another. People cannot transfer a real estate without writing. So Deed is very essential to use for transferring a property. There are different kinds of deeds like Quitclaim deed, Warranty deed, Grant Deed etc. A brief detail of these deeds follows below…
A quitclaim deed is the most used form of deeds. By signing a quitclaim deed a owner of a real estate property can quit his or her all claims on that property. This form of deed is mostly used among family and friends and mostly in divorce cases. In most cases these is monetary exchanges occurs. This deed needs to be notarized and recorded in the County Recorder office to make the quitclaim deed valid. A quitclaim deed does not ensure that the title of the property of lien free. So while buying or selling a property, a quitclaim should not be used.
A Grant deed is mostly used while selling or buying a property. All the owners or the grantors of the property need to sing the Grant deed. By signing a grant deed, the owner ensures that the title is free from all kind of liens and taxes and also that the property has not been sold to any other third party. This deed also needs to be notarized by a notary public and then it is needed to be recorded in the County Recorder office so that the deed is considered as valid.
The Warranty deed is the safest form of deeds while selling or buying a real estate property because by singing this deed the seller ensures the buyer that he has the right to sell the property and the title of the property is free from all kind of debts and liens. The seller will compensate the buyer if there is any unsettle claims or debts again the property.
Hope this helps but always consult with an attorney while selling or buying a property and he will guide you have make the process easy for you.