A deed is an instrument by which an owner (the grantor) transfers an interest in land to a new owner (the grantee). No consideration is required to make the deed effective. The deed is necessary to transfer title to land even if it is a gift. It has no effect, and title does not pass until the deed has been delivered. The recording of the deed is not required to make the deed effective to pass title between the buyer and the seller. However, recording is necessary so that the public will know that the buyer is the present owner. Recording constitutes "notice to the world" of the transfer in title.
The grantor is the person selling the property. The grantee is the person buying the property. A grant deed is a deed containing an implied warranty that there are no encumbrances on the property not described in the deed and that the person transferring the property actually owns the title. It must describe the property by legal description of boundaries and/or parcel numbers, be signed by all people transferring the property, and be acknowledged before a notary public. It is in contrast to a quit claim deed, which only conveys the interest that the transferor actually owns, if any, without a warranty of ownership.
A grant deed is a legal document used to transfer ownership of real property from one party to another in Alaska. It is commonly used in real estate transactions and provides a guarantee that the property has a clear title and the granter (seller) has the authority to transfer ownership. By executing a grant deed, the granter promises that they have not conveyed the property to anyone else and that there are no undisclosed encumbrances or defects in the title. In Alaska, there are two main types of grant deeds that can be used in different scenarios: 1. General Grant Deed: This is the most common type of grant deed used in Alaska. It transfers the property ownership from the granter to the grantee and implies certain warranties, such as the warranty of title. The warranty of title ensures that the granter has the legal right to sell the property and that there are no undisclosed claims or liens on the property. 2. Limited or Special Grant Deed: This type of grant deed is used when the granter wants to limit the warranties made to the grantee. It transfers the property ownership but provides only limited warranties, usually limited to the time the granter owned the property. The limited or special grant deed does not provide the same level of protection as a general grant deed, as it may not cover any defects or claims that arose before the granter acquired the property. When preparing a grant deed in Alaska, it is important to include specific information, such as the names and addresses of both the granter and the grantee, a description of the property being transferred, the amount of consideration (if any), and the terms and conditions of the transfer. The deed must also be signed, dated, and notarized for it to be legally valid. Overall, an Alaska grant deed is a crucial legal document that ensures a valid transfer of property ownership between parties. It is essential to understand the different types of grant deeds available and their respective warranties to make informed decisions during real estate transactions in Alaska.
