Sunday, August 24, 2014

Deeds

Types of Deeds

General Warranty - Offers the most comprehensive title protection of any deed.  The grantor fully warrants good title to the property through the expressed or implied covenant of Seizin, covenant against encumbrances, covenant of quite enjoyment, covenant of warranty forever, and the covenant of further assurances.

Special Warranty- Grantor warrants good title to the property through the expressed or implied covenant of Seizin, covenant against encumbrances, covenant of quite enjoyment, covenant of warranty forever, and the covenant of further assurances.   Covenant apply only to the defects occurring during Grantor's period of ownership.

Bargain and Sale - A deed which contains neither expressed nor implied warranties of title, but the grantor implies ownership of the property described in the deed.

Grant Deed - A deed in which the covenant of seizin and covenant against encumbrances are implied by statute when the word grant is used in the words of conveyance.


Quitclaim - A deed without either express or implied warranties.  It simply conveys whatever interest, right, or title the grantor has in the property, if any.


Explanation of covenants

Seizin - Owns the property and has the right to convey it.

Encumbrances - Free from all encumbrances not specifically excepted in the deed.

Quite Enjoyment - Free from claim of superior title.

Warranty Forever - Compensate the Grantee.

Covenant of Further Assurances - Perform to perfect title.



Special Purpose

Gift, Deed of Trust, Trustee's Deed, Deed of Reformation

Court Ordered Deeds

Sheriff's Deed, Tax Deed, Deed in Partition

Requirements

In writing, Legal Capacity, Consideration, Legal Description, Signed by Grantor, Name of Grantor and Grantee, Granting Clause, Delivery and Acceptance.

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