The Real Estate Deed Explained

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                <p>The deed is the heart of the real estate transaction.
Once the previous owner has signed over the deed to the buyer, the real
estate outlined in the deed belongs to that buyer. The deed represents
the new owner’s legal claim to the property.<br>

<br>

Deeds Explained<br>

<br>

A deed is a written contract between two parties who agree to transfer
land from one to the other. A real estate deed is broken up into several
parts. The Premises opens the document with the basic details of the
property and the parties exchanging the property. The Habendum and
Tenendum confirm the transfer of the estate. <br>

<br>

The Redendum is the part of the deed in which the grantor may retain
something from the transferred property. The next parts of the deed are
the necessary conditions, followed by the warranty and covenants. In the
warranty, the grantor warrants the grantee the title. The covenants are a
series of promises made by the grantor to the grantee. Finally, the last
part of the deed is the conclusion.      <!--INFOLINKS_OFF-->

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<br>
Valid Deeds<br>

<br>

A deed must be on paper in order to be valid. All terms of the deed must
be clear. In addition, the grantee must be legally able to receive the
property. The deed must contain the seal of a notary public and be
accepted by the grantee that receives it.<br>

<br>

Types of Deeds<br>

<br>

In most cases of real estate transfer, a general warranty deed will be
required. Another type of deed is quitclaim deed, in which a grantor
relinquishes any possible property claim to the grantee, even when the
grantor has no established right to said property. <br>

<br>

A special warranty deed may be used if there are some exceptions to the
typical warranty agreement. These are more often in transfer of
commercial real estate. You can use a bargain and sale deed to grant
title without the grantor making warranties against encumbrances such as
a mortgage or lien on the property.<br>

<br>

Creating a Deed<br>

<br>

Your real estate broker will help create the deed. Both buyer and seller
should read the deed thoroughly before signing and be sure to ask
questions of the broker about any aspects of the deed that may be
unclear. This will help prevent any legal issues with the deed cropping
up after transferring the title.</p>                <!--INFOLINKS_OFF-->
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posted:11/17/2011
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