The Kentucky Granting Clause is an important element of real estate law in Kentucky. This clause is typically found in a deed, and it involves the transfer of ownership or interest in a property. It is crucial to understand this clause when buying, selling, or transferring real estate in the state. The Kentucky Granting Clause is a specific provision within a deed that legally conveys ownership or interest in a property from the granter (seller) to the grantee (buyer). This clause explicitly states the intentions of the granter regarding the transfer of ownership. It clarifies that the granter intends to transfer all rights, title, and interest in the property to the grantee. In Kentucky, there are several types of Granting Clauses that can be used based on the situation and the intentions of the parties involved. Some commonly used types of Kentucky Granting Clauses include: 1. General Warranty Deed Granting Clause: This type of Granting Clause provides the highest level of reassurance to the grantee. It guarantees that the granter owns the property and has the legal right to transfer it. It also assures that there are no hidden encumbrances on the property. The granter is legally bound to defend the title against any claims that may arise in the future. 2. Special Warranty Deed Granting Clause: This type of Granting Clause offers a more limited warranty compared to the General Warranty Deed. It assures that the granter has not caused any encumbrances during their ownership period, but it does not provide protection against claims arising from previous owners. The granter only guarantees clear title during their ownership. 3. Quitclaim Deed Granting Clause: This type of Granting Clause offers the least amount of protection to the grantee. It simply transfers whatever interest the granter may have in the property without any warranties. The granter makes no guarantees regarding the title, liens, or other encumbrances. This type of Granting Clause is often used in situations where there is a high degree of trust or in cases of transferring property within a family. It is important to carefully review and understand the wording of the Granting Clause in any deed to accurately determine the extent of the granter's warranties and guarantees. Seeking legal advice is recommended to ensure a complete understanding of the specific Kentucky Granting Clause being used in a real estate transaction.
Kentucky Granting Clause
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Kentucky Transfer-on-Death Deeds Kentucky has not authorized transfer-on-death (TOD) deeds. Property owners in states that allow TOD deeds can record a TOD deed during life without giving up any rights in the property until the owner's death.
The grantor must sign the deed and signatures must be acknowledged (notarized). The grantor and grantee must sign the consideration statement and the signatures must be notarized. The document must be filed in the county clerk's office of the county where the property is located (or the greater part).
(KRS 382.335). All Deeds and Mortgages must have derivation clause. If a deed is being recorded prior to the mortgage, the mortgage derivation clause must reference the new deed.
Attorney Involvement Laypersons may conduct real estate closings, but may not answer legal questions that arise at the closing, or offer any legal advice to the parties. However, preparation of deeds and mortgages constitutes the practice of law and must be prepared by an attorney.
Kentucky requires the person transferring property (the grantor) and the person receiving property (the grantee) to sign the deed. A deed from or to more than one person must be signed by all grantors and grantees. A deed involving an entity must be signed by a representative with legal power to act for the entity.
New Kentucky Deed Requirement Now In Effect the mailing addresses of the grantor and grantee; a statement of the full consideration; statement indicating the in-care-of address to which the property tax bill for the year in which the property is transferred may be sent; and.
Law shall not prevent a person (not holding himself out as a practicing attorney) from writing a deed, mortgage, or will.
Roberts: ?Kentucky is a race-notice jurisdiction? and that ?a prior interest in real property takes priority over a subsequent interest that was taken with notice, actual or constructive, of the prior interest.? Roberts, 366 S.W.