How to Prepare a Quitclaim Deed by gpd18419


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									                                                  Chapter Summary

1.        A deed is a written document that transfers ownership of a real property from one person

          to another.

2.        The three types of deeds commonly used in the United States are (a) general warranty

          deed, (b) limited (special) warranty deed, and (c) quitclaim deed.

3.        A general warranty deed contains six covenants or warranties: (a) covenant of seisin, (b)

          covenant of right to convey, (c) covenant against encumbrances, (d) covenant of further

          assurance, (e) covenant of quiet enjoyment, and (f) covenant of warranty.

4.        The two parties to a deed are the grantor—the person who is transferring ownership of

          the land—and the grantee, the person who is receiving ownership of the land.

5.        A limited or special warranty deed is a warranty deed in which the grantor covenants

          only against the lawful claims of people claiming by, through, or under the grantor. A

          limited warranty deed is called a grant deed in California.

6.        A quitclaim deed is a deed that contains no warranties of title. A quitclaim deed transfers

          only the interest that the grantor has in the land without warranty.

7.        The basic requirements of a valid deed are (a) written instrument, (b) competent grantor,

          (c) identity of the grantee, (d) words of conveyance, (e) adequate description of the land,

          (f) consideration, (g) signature of grantor, (h) witnesses, and (i) delivery of the

          completed deed to the grantee.

8.        The law of the state in which the land to be conveyed by the deed is located controls the

          form as well as the formal requirements of the deed. It is important to check local and

          states laws before preparing a deed.

9.        Most states require the signature of the grantor to be witnessed and notarized. In some

          states, a deed is not valid without the proper witness requirements, and in other states,

          such a deed is valid but cannot be recorded.

10.       The customary method of correcting an error in a deed is for the grantor to execute and

          deliver a corrective deed to the grantee. A corrective deed is valid without any additional

          consideration. Acceptance by the grantee is admission of the error found in the original


11.       One of the duties of a legal assistant is to prepare deeds. The preparation of a deed

          requires careful attention to the key parts of the deed: the grantor, the grantee, and the

          description of the land as well as the formalities for witnessing and signing of a deed.

          The grantor must be the owner of the property being transferred. This ownership may

          need to be verified by a title report or other means. The grantee should be properly

          identified as well. It is important that all names be properly spelled and all persons who

          intend to be owners be identified as grantees in the deed.

12.       A deed will only transfer the property that is described in it. It is important when

          drafting a legal description for a deed that it be the correct description of the property to

          be transferred. This description should come from a survey or other reliable source, such

          as a previous deed.

13.       A checklist to help in the preparation of a deed is included in the chapter. Forms vary

          from state to state, and a legal assistant should be familiar with the forms used in the

          state in which he or she works.


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