Warranty Deed Remove Text Fields For Free

Any type of deed functions to transfer ownership of property between two parties.The warranty deed is commonly used when a property is purchased at or around its fair market value. The deed implies certain warranties that the seller, or grantor, provides to the buyer, or grantee.

A correction deed, correction mortgage, or reformation deed is an instrument executed by the former grantor of an instrument that contains a certain defect or deficiency, or by said grantor's heirs, representatives, or assigns for the purpose of correcting or amending a mistake or defect contained in the instrument.

When a deed is altered or changed by someone other than the grantor before it is delivered or recorded, and the alteration is without the grantor's knowledge or consent, the deed is void and no title vests in the grantee or subsequent purchasers, even bona fide purchasers for value; and if the deed is altered after

These errors can be rectified through the execution of a supplementary document called rectification deed. Rectification deed is a document executed between parties to correct a mistake in the principal deed.

An error in a deed must be corrected before an underwriter will insure a title policy. Generally, these documents to correct an error in a deed must be drafted by a real estate attorney or the agent directly involved in the closing.

The quitclaim deed only transfers the type of title you own. Deed transfers of any kind impact only the ownership and do not change or affect any mortgage on the property.

However, the level of legal protection is much different. A quitclaim deed suffices for transferring ownership to people you know and trust. But a warranty deed is the right document for most property transfers.