Types of Common Real Estate Investing Deeds

Types of Common Real Estate Investing DeedsDo you know the common types of deeds that are used by the government to convey properties?   If you do not know them yet, then here is an explanation on each one.

Quitclaim Deed
This deed transfers the title to the property.  At the time of transfer, the grantor must quit any liability that is attached to the estate.    Liabilities include judgments against the grantor, code violations, and mechanic liens.  However, mortgages remain and are the responsibility of the grantor even after the transfer.

Limited Warranty Deed
This type of deed gives the grantor the right to transfer the deed.  It makes it an insurable title rather than a clear one.  It is also called a Special Warrant Deed.

Warranty Deed
This type of deed guarantees that the grantor is transferring a clear title to the property buyer.  A clear title assures of no defects or encumbrances.

Throughout your real estate investing course, you may also encounter other types of deeds.  So, it is very crucial to do due diligence on each type in order to determine on what you’re dealing with.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s