Deeds

Question 1

Deed

Answer 1

Fundamental basic legal written document that is used to transfer an estate in land from grantor to grantee

Question 2

3 Types of Deeds in US

Answer 2

1. General Warranty Deed
2. Special Warranty Deed
3. Quick Claim Deed

Question 3

General Warranty Deed

Answer 3

Provides the most protection of land against any defects in the grantor’s title

Grantor warrants that there are no encumbrances, easements, or any defects of title at the time of the conveyance

Question 4

Special Warranty Deed

Answer 4

Unlike the GWD, this only warrants against defects if they were caused by the grantor - not if they existed before the grantor got the property

Question 5

Quick Claim Deed

Answer 5

Offers no protections to the grantee at all. The grantor simply conveys in the deed whatever title they have

Mostly used in foreclosure auctions and sales in forfeiture of land

Question 6

Is Consideration needed for a deed?

Answer 6

No - but almost all deeds say “this deed is conveyed from the grantor to the grantee for good and valuable consideration” to give the donee grantee bona fide purchaser for value status

Question 7

Covenants included in General Warranty Deed

Answer 7

Covenant of Seisin - Seller guarantees that they own the land that’s being transferred

Covenant of right to convey - Seller guarantees that they not only own it, but that they are also entitled to transfer it

Covenant Against Encumbrances - Seller guarantees that there are neither visible encumbrances (easements, profits, etc.) nor invisible encumbrances (mortgages, etc.) against the title or interest conveyed.

Covenant of General Warranty - grantor promises to pay legal fees if there are problems in title in the future

Covenant of Quiet Enjoyment - guarantee that title won’t be interfered with a competing title claim

Covenant of Further Assurances - grantor promises to execute documents that are necessary to protect the title that is being transferred