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What Does A Home Deed Include?
The special warranty deed guarantees that there are no title issues during the time period the grantor owned the property. In contrast, a general warranty deed extends this guarantee throughout the property’s history, even through prior owners. Special warranty deeds are often used in the case of home foreclosures when grantees buy properties from banks. A property deed is a legal document that proves ownership of a property.
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This is distinct from a gift deed, which is used to transfer property while the grantor is still alive. In the context of a loan secured by a deed of trust, a deed of reconveyance is used to release the property from the lien once the loan has been fully repaid. It acknowledges the satisfaction of the debt and transfers the legal title to the trustor (borrower). A mortgage deed is a document signed between a homeowner and a bank or lending institution to secure a loan. More specifically, it secures the 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. It provides the most substantial protection for the grantee and allows for legal recourse if any unsettled debts or issues with the deed arise.
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“Holding title” is a real estate jargon that means that you own a property and have the right to use and sell it. If you’re in the process of purchasing a home, you’ll receive a certified copy of the deed to your new house at the time the title gets transferred to you. As in the Executor’s Deed example, the municipality offers this type of deed to indicate that the deed is being issued by someone in their official capacity. They have no personal knowledge of the property or its title and they’re making no warranties. The spouse leaving the home will file a quitclaim deed to publicly make clear that they no longer have an interest in the property.
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Syracuse title insurance agent charged with stealing millions in 'wide-ranging scheme' - KSL.com
Syracuse title insurance agent charged with stealing millions in 'wide-ranging scheme'.
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After the grantor's death, the trust acts as a will substitute and enables the assets to be privately and quickly distributed without going through the time and expense of the probate process. This will allow the grantor full control and use of their home during their lifetime while providing for efficient distribution at their death. Real property may also be transferred using an executor's or administrator's deed. These deeds are issued by an estate representative during estate administration. Register for business e-services if you’re a business that needs to manage multiple searches and download multiple copies of documents.
If you are unsure about the type of deed you have, it is advisable to consult with your county’s recorder’s office for guidance and clarification. A deed of reconveyance is typically prepared by the trustee and recorded in the public records to provide clear evidence of the release of the lien. Deeds of trust usually contain a power-of-sale clause, enabling the trustee to sell the property without a court order in case of foreclosure. This kind of foreclosure is referred to as non-judicial foreclosure, which is different from judicial foreclosure with a mortgage deed. A Gift Deed, or a Deed of gift, allows the grantor to transfer money or property as a gift without receiving consideration (money) in return.
You can also visit the Los Angeles County Recorder’s Office website, which maintains records of property deeds and other property-related documents for the county. Additionally, you can visit the Los Angeles County Clerk’s Office, which has records of property transactions and other property-related information. One single owner who owns their house outright will sell their home to another single purchaser. However, there are instances when deeds can get complicated and tricky.
The estate of Leslie E. Brosius conveyed property on Aberdeen Road to Alex Christopher Pierce for $200,000. Ronald S. Lucas, Brigitte M. Lucas and Ashlyn M. Resch conveyed property on a public road to Steven Resch and Ashlyn M. Resch for $1. David Conant conveyed property on a public road to David Conant and Angela M. Vega for $0. Merritt J III Harman, Danielle M. Marin and Danielle M. Harman conveyed property on a public road to Danielle M. Harman and Danielle M. Marin for $1. Victor Eduardo Salazar Naro conveyed property on a public road to Victor Eduardo Salazar Naro and Manuel J. Torres for $1. Hemanta Acharya and Shailesh Khanal conveyed property on a public road to Aleksandr Molodin and Marina Molodina for $400,000.
Let's assume mom wanted to add her son to the deed of her home to facilitate its transfer at mom's death. Mom's original cost basis with improvements was $250,000, and the fair market value was $500,000 at the time mom added her son to the deed. The value of the gift was $250,000 (50% of $500,000), but when mom died, the son's cost basis on his share of the house was still $125,000 (50% of the $250,000). In a warranty deed, the grantor promises to pay for any lawsuits or damages due to undisclosed ownership disputes. There are many other types of deeds, such as warranty deed, joint tenancy deed, easement deed, trust deed, etc.
There are several different types of deeds that homeowners can use to transfer property ownership. Different deeds offer varying levels of protection to either the grantor or grantee, and are thus selected based on the circumstances. A quitclaim deed, sometimes called a non-warranty deed, offers the least amount of protection to the grantee. Quitclaim deeds convey whatever interest a grantor has in the property, which could be zero in some cases. Warranties or promises regarding the integrity of the title are not made.
Also, check with your local county regarding methods of payment accepted. They often offer various methods of payment, such as credit card, cash, check, and money order. Get matched with a lender that will work for your financial situation. Rocket Homes Real Estate LLC is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, please contact us at
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