Deed
A deed is a legal document that transfers ownership (title) of real property from one party to another.
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Exam Tip
General warranty = best protection for buyer. Quitclaim = no warranties at all.
What is a Deed?
A deed is the legal instrument used to transfer ownership of real property. It must be in writing, signed by the grantor, and delivered to the grantee to be valid.
Types of Deeds
| Deed Type | Warranty Level | Protection |
|---|---|---|
| General Warranty | Highest | Guarantees title against all defects, past and present |
| Special Warranty | Limited | Only guarantees against defects during grantor's ownership |
| Quitclaim | None | Transfers whatever interest grantor has (if any) |
| Bargain and Sale | Minimal | Implies grantor has title but no warranties |
Essential Elements of a Valid Deed
- Grantor - Person transferring property (must be competent)
- Grantee - Person receiving property (must be identifiable)
- Consideration - Something of value exchanged
- Legal description - Accurate property description
- Granting clause - Words of conveyance
- Signature - Grantor must sign
- Delivery & Acceptance - Must be delivered and accepted
Recording the Deed
While not required for validity, recording the deed with the county provides constructive notice to the world of ownership.
Study This Term In
Related Terms
Title
Title is the legal right to own, use, and dispose of real property, representing the bundle of rights that come with property ownership.
Escrow
Escrow is a neutral third-party arrangement where documents and funds are held until all conditions of a transaction are satisfied.
Closing (Real Estate)
Closing is the final step in a real estate transaction where ownership transfers from seller to buyer, documents are signed, funds are exchanged, and the deed is recorded.
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