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on A deed is the document that transfers ownership of real estate. A deed includes the names of the buyers (grantee) and the name of the sellers (grantor), and provides a legal description of the property. The deed is signed by the person transferring the property and the seller’s signature must be notarized. A deed for property must always be in writing, and it must follow state laws. The deed language or forms or even paper sizes may defer by state, so it is important to have an experienced real estate attorney prepare and review the deed to ensure that is properly executed.
There are many types of deeds. The most common form of deed is a warranty deed or sometimes called a grant deed. A warranty deed transfers ownership and explicitly warrants the buyer that the seller has good title to the property. A warranty deed offers the greatest protection for buyers since the seller must promise good title to the property, with no liens and encumbrances not disclosed in the deed. The seller also agrees to defend against any defects found in the deed. The other common form of deed is the quitclaim deed. A quitclaim transfers any ownership interest the seller has in the property, but makes no promises about what that interest is or that title is good. Quitclaim deeds are most commonly used to clear up title problems, to transfer property between spouses after divorce, or in informal transactions between friends and family.