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 Minnesota Grant Deed is a legal document that is used to transfer ownership or interest in real property from one party (the granter) to another (the grantee). It is commonly used in real estate transactions in the state of Minnesota. This type of deed guarantees that the granter has the legal right to transfer the property and that there are no liens or encumbrances on the property that would hinder the transfer. A Grant Deed in Minnesota must include specific information to be valid. This includes the names and contact information of both the granter and grantee, a legal description of the property being transferred, and a statement of consideration, indicating the value or exchange involved in the transaction. Additionally, the document must be signed and notarized by the granter, and then recorded with the County Recorder's office in the county where the property is located. It is important to note that in Minnesota, there are different types of Grant Deeds that can be used, depending on the specific circumstances of the transfer: 1. General Warranty Deed: This is the most common type of Grant Deed used in Minnesota. It offers the highest level of protection to the grantee as it includes a warranty from the granter that guarantees the title to the property is free and clear of any defects or encumbrances, both during the granter's ownership and prior to that. 2. Special Warranty Deed: A Special Warranty Deed in Minnesota also guarantees that the granter holds clear title to the property but only for the period of time that the granter owned the property. This means that any defects or encumbrances that occurred prior to the granter's ownership are not covered by this type of deed. 3. Quitclaim Deed: Unlike Warranty Deeds, a Quitclaim Deed in Minnesota doesn't provide any warranties or guarantees regarding the status of the title. It simply transfers whatever interest or ownership the granter has in the property to the grantee. This type of deed is commonly used in non-sale transfers like gifting or transferring property between family members. In conclusion, a Minnesota Grant Deed is a legal instrument used to transfer ownership or interest in real estate. It provides a level of protection to the grantee by ensuring that the granter has the legal right to transfer the property and that there are no encumbrances on the title. Understanding the different types of Grant Deeds available can help parties involved in real estate transactions choose the one that best suits their needs.
