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| Home > Information > Using a Real Estate Deed to Transfer Property |
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| Using a Real Estate Deed to Transfer Property |
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A real estate deed is a legal instrument with the purpose of assigning ownership of real estate property and of transferring the title to land as well as its improvements. A deed can transfer property by use of words like granting, conveying, or assigning, but all these words basically have the same purpose: to transfer the seller’s interest to the buyer.
There are at least two parties to a real estate deed: the grantor and the grantee. The grantee is the person or entity purchasing the property while the grantor is the person or entity selling the real estate property.
As a legal document, a real estate deed should state the names of all the parties involved in the real property transfer, the address of the real property, and the legal description of the unique parcel of land. Once the grantor and anyone else required by law have signed the deed, and all statutory and county requirements have been met, submit the instrument to the register of deeds or recorder in the county and state where the property is located. After recording, the deed is considered a matter of public record, and serves as notice that the ownership status of the real property has changed.
Title to property can be held in numerous ways. Generally, married couples hold title to their property under tenancy by the entirety, joint tenants with the right of survivorship, or community property with the right of survivorship. Unmarried couples, on the other hand, can hold their ownership of real estate as joint tenants in order to benefit from the right of survivorship. The right of survivorship simply means that if one of the concerned parties dies, then the ownership interest is automatically passed on to the surviving owner without requiring probate.
Regardless of whether you are buying, selling, or trading real property, a real estate deed is mandatory. A properly recorded real estate deed provides information about the property from the time it was incepted to the current date. The purpose of recording is to provide a traceable chain of title and to give public notice of property ownership. A new real estate deed must be prepared and submitted to the county recorder’s office every single time a property is transferred.
Knowing what type of real estate deed to use depends on the specific type of property being transferred. Deeds and their requirements vary from state to state, so it is important to contact a local real estate lawyer with questions about which deed is appropriate for each situation.
View Available Real Estate Deed Forms |
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| May 8, 2012,
Information deemed reliable but not guaranteed, you should always
confirm this information with the proper agency prior to acting.
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