Deed
Overview of this form
A deed is a legal document that transfers ownership of real property from one party to another. This specific deed includes warranties from the grantor, ensuring the grantee that they are receiving clear title to the property. Unlike other forms of property transfer, this deed provides certain protections against defects in title, making it essential for real estate transactions where warranties are important to the buyer.
Form components explained
- Grantor and Grantee Information: Details for both the party transferring the property (grantor) and the person receiving it (grantee).
- Legal Description of the Property: A detailed description of the real property being transferred, often included as an attachment (Exhibit A).
- Consideration Clause: Acknowledgment that valuable consideration has been exchanged for the property.
- Warranties and Acknowledgments: Provisions outlining the condition of the property, acceptance "as is," and any warranties or lack thereof.
- Effective Date: Specifies when the transfer of ownership becomes effective.
Common use cases
This deed is used when an individual or entity (the grantor) wants to transfer ownership of property to another individual or entity (the grantee) with warranties. It is particularly useful in real estate transactions where the buyer requires assurance of a clear title and the propertyâs condition. This form can also be important in estate planning, sales of inheritance properties, and in commercial real estate transactions.
Who can use this document
This deed is intended for:
- Property owners looking to sell or transfer real estate.
- Individuals purchasing property who require warranties regarding the title.
- Real estate agents and attorneys involved in property transactions.
- Heirs or beneficiaries transferring inherited property.
How to complete this form
- Identify the grantor by entering their name and address.
- Enter the name and address of the grantee.
- Provide a detailed legal description of the property in Exhibit A.
- Fill in the effective date of the transfer.
- Both grantor and grantee must sign and date the form in the designated areas.
Notarization requirements for this form
This form needs to be notarized to ensure legal validity. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Typical mistakes to avoid
- Failing to provide a detailed legal description of the property.
- Not having both parties sign the deed.
- Leaving the effective date blank or incorrectly dated.
- Not reviewing local laws regarding property transfers, which may differ by state.
Benefits of using this form online
- Immediate availability for download, allowing for quick transactions.
- Easy editing options to tailor the form to your specific needs.
- Reliability, as forms are drafted by licensed attorneys to ensure legal compliance.
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FAQ
The mortgage company usually prepares this deed as part of the loan package and delivers it to the title company for you to sign at closing. The title company is commonly the trustee to the deed and holds legal title to the property until the loan gets fully repaid.
Title the deed and list the amount given for the transfer. If it is a quitclaim deed, title the deed Quitclaim Deed; for warranty deeds, title the deed Warranty Deed. Write In consideration of dollar amount to list the amount given for the transfer. List the names of the parties involved.
The answer is yes. Parties to a transaction are always free to prepare their own deeds. If you do so, be sure your deed measures up to your state's legal regulations, to help avert any legal challenge to the deed later.
To make the form legally binding, you must sign it in front of a notary public. You must then file your signed and notarized deed with the county office that's in charge of recording property documents. Once the grantee signs the warranty deed, he/she legally has ownership and claim to the property.
Some owners are put off using solicitors duke to the deed of trust cost. Individuals can write out their own, and use someone else as a witness. However, this may have errors or not be a legally binding document. The investment of getting a deed of trust when buying a property is often worth it in the long term.
The answer is yes. Parties to a transaction are always free to prepare their own deeds. If you do so, be sure your deed measures up to your state's legal regulations, to help avert any legal challenge to the deed later. Some deeds require more expertise than others.
The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.
Traditionally, in order to be a deed at common law, an instrument needs to comply with a number of formalities: it must be written on parchment, vellum or paper; a personal seal was placed on the document; and. it must be delivered to the counterparty.
Fill out the form. Complete the form using a typewriter or by printing neatly using black ink. Sign in front of a notary. Get a Preliminary Change of Ownership Report (PCOR). File the forms. Give the deed to the grantee.