Role of deed while transfering a property

Guest

Whenever I am going to transfer a property shall I need a deed? What is it actually? There are lots of names behind it as I find. How do they differ from each other?

blue · Posted: Tue Dec 20, 2005 1:21 pm Post subject:

Hi Redeau,

A deed is a written document which enables transfer of an estate or interest in real property from one person to another.

The person acquiring the interest is called grantee and grantor is the one who transfers it. Generally the selection of a deed depends on the language of the deed and the legal capability of the grantor along with some other factors.

You need a deed usually every time you have a property transfer as the process requires to get recorded in writing. Under some special cases, instead of deed the transfer may be settled in court.

As stated earlier a deed is a document of property transfer but the types of the different deeds depend on the substance of the deed and the purpose for which they are used.

For example - a quit claim deed transfers the Ownership Title but make no guarantees about the extent of the interest. This deed is more common in case of divorcing couples.

A grant deed is the most commonly used which too transfers property ownership with the declaration that the title hasn't been transferred to someone already.

A warranty deed also transfers ownership rights with the declaration that the person transferring has good title to the property.

Regards,
Blue

Guest

But you didn't mention trust of deed!

jameshogg · Posted: Tue Dec 20, 2005 2:06 pm Post subject:

Hi Redeau,

Blue didn't mention it as probably the trust of deed is not like other deed. This is not used to transfer real estate but instead it is considered as a version o0f mortgage.

Here title to land transferred to a trustee, like a trust or a title company, who has no powers unless the borrower fails to repay the loan. When the loan is repaid the title is transferred to the borrower.

James

Guest

A deed must contain identification for the grantor and grantee, including their names, residences, post office addresses and a legal description of the real estate. This legal description is determined by a survey recognized by the government.

There is record of street address of the real estate and the amount of money involved for the transfer in the deed as per the requirement in many states.

Guest

can you leagly be evicted when the deed is in the name of someone that is deceased? How can the deed be transfered if the parties involved to the deased?

larry · Joined: 27 Jun 2007 Posts: 3328 474.49 Dollars($)

Hi peachesandivy,

Welcome to the forum.

Are you a heir of the deceased person? Did not he left a will?

whom did he transfered the property to?

Please inform us these questions so that we can help you better.

Best of luck,
Larry

jbarto65 · Joined: 04 Nov 2007 Posts: 623 -0.20 Dollars($)

Your deed shows ownership of your property, you need it to prove that you own it.

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