Table Of Content
Type in the name of the previous owner in the search bar on Ownerly to discover more about a specific property deed. An interspousal deed is used between spouses or registered domestic partners (“DP”) to change real estate to or from community property. Spouses/DPs can use grant or quitclaim deeds to do the same things, but the interspousal deed makes it clear that the transaction is intended to affect community property rights. If you need an additional copy of your house deed once you officially own the home, you can request a notarized and certified copy of your deed through your county recorder’s office. Grant Deed Like both types of warranty deeds, a Grant Deed shows that you have clear title to sell and are unaware of anything that might impact the title.
Contact Your Local Recorder’s Office
Different deeds provide various levels of protection to the grantee and the obligations of a grantor are determined by the form of the deed. A warranty deed is the type of deed used when getting a mortgage, and provides more protection for the person buying the home compared to other kinds of deeds. You’ll need to research who to contact in your area before you’re able to get your deed. You can get a deed to your property by contacting your local county recorder’s office. Depending on where you live, you might even be able to get a copy online.
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Consideration also provides a benchmark for assessing the value of the property being transferred and the fairness of the transaction. While a deed itself signals a transfer, it doesn't evaluate or measure the nature of the transaction. While consideration need not be precisely equivalent to the property's fair market value, There are legal and tax implications if the transfer of a deed does not have consideration.
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Deed of Trust
Official deeds are executed pursuant to a court or legal proceedings. Most property transactions, however, involve individuals and business entities using private deeds. In another instance, if a buyer is purchasing a house with cash, they may work directly with a real estate attorney to obtain the deed. When closing on a home, you should receive a copy of your house deed when the title is transferred to you. You can also request an additional copy at any time through your County Recorder’s Office or Register of Deeds Office (the official name may vary by location). Let’s more closely examine some of the most common types of special purpose deeds.
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An abstract of title records your home’s legal history and past chain of ownership. As a homeowner, you may have the abstract of title — potentially a thick stack of paperwork — stored in a file cabinet somewhere. “Holding title” is a real estate jargon that means that you own a property and have the right to use and sell it. There are certain instances when you need to make changes to a house deed. If this person passes away or you get a divorce from this individual, you will typically need to change your deed.
Perhaps the biggest myth is that the title to a home is an actual document stored in a drawer somewhere. So here’s a brief overview to keep the meanings straight when you buy or sell a home. What exactly is a property deed and when is it used in real estate?
House Deed: What You Need To Know About Property Deeds
By comparison, quitclaim and special warranty deeds make no such assurances. General Warranty Deed The General Warranty Deed is most commonly used in traditional home sales and provides the most protections for buyers. It means that you, the owner, have clear title and a right to sell the property, and no knowledge of any unforeseen issues that might come up with the title for the life of the property. In a best case scenario, the grantor has a good title and the quitclaim deed is just as effective as a general warranty deed. However, the grantee has no legal protection if it turns out that there’s a problem with the title. If you are involved in any type of real estate exchange or transaction, you will need to make sure that a new property deed is properly recorded.
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General warranty deeds include promises that provide homeowners with the most support and make the former owners responsible for defective titles and other ownership issues. But under special warranty deeds, grantors are only liable for problems that appeared when they owned the property. When it comes to real estate education, there is plenty of information regarding the importance of the house deed, property titles, and having legal proof of ownership to your house. Further, there is plenty of discussion regarding different types of deeds, how they work, and which ones offer the best levels of protection for the buyer. A property deed is a legal document that transfers ownership of real estate from one party to another.
Although “title” is a concept, material facts related to a property’s title are sometimes documented in the form of an abstract. A grant deed is a form of deed common in California, which contains implied warranties to the effect that the grantor has not previously conveyed or encumbered the property. When transferring property, a Preliminary Change of Ownership Form is required. This form is also available at the Norwalk RR/CC main office and at County Assessor's offices. Real property refers to land and anything immovable that is attached to that land.
If a third party were to make a claim against the title, then you would be left dealing with any resulting legal or financial fallout. A deed to a house is a legal document that shows proof of ownership to a piece of real property. It’s also an instrument that is used to transfer property interest from one party to another. New homeowners typically get a copy of their deed at the time of transfer. However, this guide will go through additional ways you can find a deed to a house in case it gets lost, or you’re not sure who the true legal owner is. If you’re a grantee (the person purchasing property), a general warranty deed will give you the highest level of protection.
A trustee holds the deed of trust until the loan for the property is paid in full. We’d be happy to introduce you to a few top local real estate agents. Special Warranty Deed A Special Warranty Deed is similar to the General Warranty Deed with one exception — it only promises clear title for the time you’ve owned the home. It’s generally used for commercial real estate transactions and is also known as a Covenant Deed. “When the seller goes to sign a deed, their signature is notarized so they can prove that they are the person, or people, who have the right to convey this property to the new owner,” adds Kinaan. According to Richie Helali, a mortgage lending expert with HomeLight Home Loans, an abstract of title is like a laundry list of all of a property’s various owners over time.
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