Quitclaim Deed . The deed without covenants can be viewed to be a lot more feasible and reasonable sort of deed because, that bit about the guarantees extending back to the property’s origins is a bit unrealistic. This warranty extends from when the property first sold to the current buyer. Under a warranty deed, if it turns out that the property is not what the seller promised or there's an uncleared lien or other block to the title, the buyer can sue the seller and recover damages. Quitclaim Deed . Don’t think that because you have a Grant Deed you have all of the benefits of a Warranty Deed. Grant deeds and trust deeds (also called deeds of trust) are both used in real-estate transactions to convey ownership. Guarantee and grant deeds include differing ranges of Warranty by the seller, promising various ranges of legal safety to the purchaser if the seller ought to prove to contain poor or problematic title (legal ownership) to the house. The person who prepares the abstract of title will also include a statement that the abstract is complete and accurate. The general warranty deed is supposed to protect the buyer from any problems arising in the future. The reality is that a Grant Deed can be used as a Quitclaim Deed OR a Warranty Deed. The warranty deed transfers the property's ownership from the current owner to the new buyer, while the deed of trust ensures the lender has interest in the property in … A grant deed is used to transfer ownership of real property from the grantor to the grantee. The borrower makes payments, and until the payments conclude, he or she retains only the equitable right (a legal right guaranteed … Two common types of survivorship deeds are the quitclaim deed with right of survivorship and the warranty deed with right of survivorship. Grant deeds “grant” an interest in real property to the grantee. Bottom line- Make sure that you look at the language used in the deed itself. The signatures must be acknowledged before a notary public or other official authorized by law to administer oaths. General Warranty – Document is meant to guarantee the conveyance of a clear title as well as the grantor’s authority and right to sell the property. Quit Claim Deed; and; Grant Deed. Commercial properties often use special warranty deeds. It also shows the buyer … This article will define what deeds are, what needs to be included in a deed … Grant Deed. 1) The grant deed: This document transfers ownership and carries with it … I recently got divorced and … Grant Deed . Each party transferring an interest in the property, or "grantor", is required to sign it. In some cases, it's known as a Deed to Secure Debt, Warranty Deed, or even a Loan Deed. It essentially depends on the verbiage used inside the terms of the Deed itself. A quitclaim deed does not provide … There is no implied warranty contained in a quitclaim deed stating whether there may be unknown ownership claims and whether the grantor even owns the rights to the property conveyed. The warranty deed also assures the beneficiary that there are no other people who may have claims to the property. A grant deed (also known as a special warranty deed) is a property deed that makes two guarantees: The property has not been sold to anyone else. But if the property was conveyed through a Quitclaim Deed, the buyer has no … This sort of deed … Statutory Warranty Deed vs Bargain and Sale Deed I was recently asked the difference between a statutory warranty deed and a bargain sale deed. Posted on: 17th Jan, 2008 10:09 am. Grant Deed Vs. Warranty Deed Deed describes a legal document that proves a actual estate transfer.