A grant deed is the instrument used to transfer title to an interest in real property from one owner to someone else. The use of the word “grant” means the deed comes with certain warranties. A deed of trust is the security instrument given to a lender to secure a loan or other obligation.

What is the main purpose of a grant deed and quitclaim?

A grant deed ensures that the grantor has a legal interest in the property. A quitclaim deed merely releases any potential interest the signatory may have in a property with no warranties.

What are some reasons that recording a grant deed would be beneficial?

Although a properly completed and notarized deed is valid between the grantor and grantee, all states require you to record a property deed. Recording allows interested parties to search public records and discern property ownership.

Whats the difference between title and deed?

A deed is an official written document declaring a person’s legal ownership of a property, while a title refers to the concept of ownership rights. Here’s a way to remember the difference: although you can own a physical copy of a book, you can’t hold a book’s title in your hand.

What makes a deed voidable?

3d 512.) A deed executed in blank, without designation of a grantee, is also void. In contrast, if the title is voidable, the grantor can choose to rescind the deed against the grantee, but title may be enforced by a bona fide purchaser. For example, a deed is voidable if it was obtained by fraud in the inducement.

What is the legal definition of a grant deed?

Also found in: Wikipedia . n. the document which transfers title to real property or a real property interest from one party (grantor) to another (grantee). It must describe the property by legal description of boundaries and/or parcel numbers, be signed by all people transferring the property, and be acknowledged before a notary public.

Who is required to sign a grant deed?

A grant deed is a legal document used to transfer ownership of real property. The grantor is the person transferring the property, and each grantor must sign the deed.

What makes a grant deed a special warranty deed?

A grant deed may also be known as a special warranty deed. The property owner who wants to transfer title, or the grantor, guarantees that the property has not been sold to anyone else and that the property is not under any liens or restrictions that have not been disclosed.

Can a property be reassessed with a grant deed?

BREAKING DOWN ‘Grant Deed’. A transfer with a grant deed does not cause the property’s value to be reassessed for property tax purposes. A notary usually witnesses the actual signing of a grant deed, and the grantee usually pays a small fee to record the deed with the county government.