Real Estate Types of Property Deeds
In Real Estate there are legal documents to transfer ownership known as Property Deeds. If you are looking for Preliminary Title reports and U.S property records, you do not have to go to each municipality to find out a login is blocking you. Search who owns that property, if there are any liens, download document images and reports all in one application, no contracts, cancel anytime.
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Depending on the property, you may encounter several types of Deeds:
It transfers the interest in a property from the seller to the buyer in exchange for an agreed price. While the grant deed guarantees that the seller owns the property, it doesn’t offer the buyer legal protection against any title defects such as an: error in public records, errors in signatures, boundary dispute, undisclosed liens.
Deed of Trust
It transfers the title of an asset from a trustor to the trustee for the benefit of a third party, known as the beneficiary. Most often, a deed of trust is used instead of a mortgage, acting as security against a loan that a trustor has transferred to a trustee. The trustee holds the property until the borrower has paid off the debt
Is document signed between a homeowner and a bank or lending institution, allowing this institution to put a lien on the property if the loan is not repaid. This deed secures property as collateral for a loan — meaning a “mortgage payment” is paid towards a loan debt, with the house serving as security in the event of a default.
Used to transfer property between familiar parties, such as family members. It offers little legal protection to the recipient.
A general warranty deed guarantees that the seller has the full legal right to sell the property, and that the property is clear of any debts, liens, or any encumbrances. A special warranty deed guarantees that the property was not somehow encumbered during the time when the grantor had ownership.
Bargain and Sale Deed
It offers no guarantee that the property is free of debts or liens. It only states that the grantor is the titleholder, and little else.
These are just some examples of the several types of Deeds, depending on the transaction. You can research properties nationwide and find Real Estate Title Deed Download
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