A real estate deed is a signed legal instrument that is used to transfer ownership of real property from the old owner (the grantor) to the new owner (the grantee), when properly signed and delivered. ‘Alpine Housing’ suggests having a fair knowledge about these deeds before investing in the real estate market, in order to avoid any sort of inconvenience. The most common types of deeds include:
General warranty deeds
The general warranty deed provides the greatest conveyance and protection to the grantee because it includes warranties or covenants that the seller conveys with the title. It is a kind of written guarantee which makes the property being purchased, free of debt. Most of these warranties cover the warranty of good title and 1 covenant covers encumbrances:
· Warranty of title
· Warranty against encumbrances
Special warranty deeds
This deed guarantees less than the general warranty deed and is often used in commercial property transactions or residential real estate sales. Here, the seller guarantees the title only against the defects aroused during the period of his or her ownership of the property. No warranty is granted against defects existing before the time of previous ownership in the property.
Quitclaim Deed
This deed is also referred as non warranty deed as it offers the least amount of protection to the grantee. A quitclaim deed is often used if the grantor is not sure of the status of the title (if it contains any defects) or if the grantor wants no liability under the title covenants.
‘Alpine builders’ provides step by step guidance regarding the deeds to all the potential customers and safeguard their investment.
For more details please visit: http://www.alpinefiesta.co.in/