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Partnership Deeds at a Glance

Partnership Deeds at a Glance

Deeds are usually drafted in the real of real estate, though they do have other applications elsewhere. An example would be a deed of partnership. A partnership deed, also known as a partnership agreement, is a legal document that is used in the business world when two or more parties will decide to form a new business or company. A partnership deed will provide the details such as the responsibilities, rights, and liabilities of those involved in the agreement. A deed of partnership can be equivocated to be similar to the articles of incorporation in terms of the overall purpose, though a partnership deed is not considered to be a public document. 
A deed of partnership will prove to a central legal document for it will outline the relationship that business partners will have among each other, and thus, a deed of partnership essentially provides for the core structure as to how a business or company is to develop from within. Furthermore, on a legal stance, a partnership deed will help establish how all partners are to be taken care, so as to avoid any potential internal conflicts and avoid legal action. 
A partnership deed can also provide for clauses regarding how ownership of the company is to be distributed among the involved parties. This can play an important role in the case that one of the partners is dissolved from the partnership due to not conforming to the agreement or because of death. 

What You Must Know on Deeds

What You Must Know on Deeds

Deed Background
A deed is legal document that in some jurisdictions may required to be sealed. It is a document in writing that grants some sort of right or privilege and is typically used for situations regarding the ownership of property and real estate. A deed will usually require the signature of the author, signature of witnesses, or that of notary public. 
Quitclaim Deed
The quitclaim deed is a written legal document in which a person will refuse the right to or disclaims interest in regards to any piece of property or real estate. Quitclaim deeds are most commonly used in divorce settlements, where the one individual will give up rights to property and pass the claim along to his/her spouse. 
Deed Poll
A deed poll is a unique type of deed in the fact that it is technically not a contract for it only involves one party. Deed polls are most commonly used for the purpose of name changes, though such document is not needed in the United States for legal name changes. Deed polls are most commonly used in countries such as England, Ireland, New Zealand, and Hong Kong.
Tax Deed
A tax deed, formally known as a tax deed sale, is a legal document that enforces the authorized sale of property or real estate conducted by the government due to the non payment of taxes. Tax deed sales will be conducted only after the owner of the property has been appropriately notified and given notice regarding the amount of time given to pay back taxes before the tax deed sale. 

Deed Forms
Deed forms refers to deed legal documents that are pre-printed and provided as a generic guideline regarding the information required in the various kinds of existing deeds. Deed forms can be provided by governmental agency involved in the deed procedures, or can be procured online as a way to obtain deeds without a person having to draft one him/herself. 
Deed in Lieu

A deed in lieu, formally known as deed in lieu of foreclosure, is usually the last resort or option of a mortgage borrower. This deed will state that the borrower will give all interest in the property or real estate over to the lending company or institution as a form of payment of a loan that is in default. The deed in lieu of foreclosure will avoid possible foreclosure proceedings, though may have a negative impact on the borrower in terms of credit history. 

Deed of Trust
A deed of trust is essentially a legal document that is used as evidence or as record in regards to a debt. The deed of trust acts as the record of the transfer of a title to property or real estate to a third party, such as title company, which will hold on to the deed of trust until a borrower pays off a loan in full. Once the loan is paid, the deed of trust is passed on to the borrower, making him/her the legal owner of the property. 
Life Estate Deed
A life estate deed, also known as a “lady bird deed,” is a legal document that gives exclusive rights to the owner of property or real estate to sell or use such property as he/she sees fit, regardless of who is to inherit such property after the person’s death. This allows for a much smoother process of transferring property to heirs and may avoid having to undergo probate procedures. 


Deed Search

A deed search is when an individual conducts research regarding the title deeds to particular piece of land or real estate. A deed search will allow a person to view how such property has been transferred from its inception to current day. Aside from being able to know information regarding previous owners, it can also provide for history in regards to the condition of the property as well. 
Grant Deeds
A grant deed is a legal document that is commonly used to transfer a title deed to a piece of property or real estate. The grant deed makes two important guarantees: that the land itself is owned outright by the stated owner, and that no other person has a vested interest in the property, and that there are no liens or mortgages on the property at the time of transfer of ownership. 
Title Deed

A title deed is one of the most important types legal documents for it is used as evidence of ownership of property or real estate. Title deeds may also be used to prove ownership of other types of property, particularly motor vehicles. Title deed will describe the property as well as provide for the name of the proper owner. 
Grant Deed vs. Title Deed
Grant deeds and title deed may often be confused due to the fact that they both deal with the ownership of property. However, grant deed is a document that is used to transfer a title deed, and does not necessarily prove ownership. A title deed, on the other hand, is the actual proof or evidence regarding the ownership of property.
Deed of Variation

A deed of variation, also known as a disclaimer of interest, is a legal document which is drafted in the case that an individual wants to refuse or renounce the right to an inheritance. There are many reasons as to why a person may want to refuse an inheritance, though the most common may be that such inheritance may create increase in income taxes. 
Deed of Assignment

The deed of assignment is a type of legal document that is involved in the transfer of ownership. It is used when there is a sale of property of real estate, though the actual title deed is not available at the time of the sale. Therefore, the deed of assignment essentially acts as a substitute for the title deed until the deed can be furnished to the appropriate party. 
Warranty Deed

A warranty deed, also known as a grant deed, is a legal document in which the seller or grantor of real property guarantees in writing to the buyer or grantee certain claims. These claims are that the owner is the proper and legal owner of the property, having the right to sell such property underlaw, and that there are no mortgages or liens against such property.

Partnership Deed
Deeds are usually most commonly applied in regards to property and real estate, however, deeds can be used in other fields. A partnership deed is used in business, which is a legal document that acts as an agreement between two or more parties in regards to a business or company that the involved parties are creating.
 
Contract for Deed
A contract for deed is a legal document that essentially acts as an outline in regards to the eventual purchase of property or real estate. This agreement may entail the buyer making payments on the main balance of the property in order to occupy the land, while a down payment is deferred for a specified period of time, typically twelve months.  
Land Deed Records
Land deed records refer to deeds of property that have been registered with the appropriate governmental agency and are kept on file for public use. Land deed records can be searched by individuals at any time, and is usually an undertaking that is done in the process of purchasing a home to have an insight to the history of the property. 
Property Deeds

Property deeds are legal documents that are used in real estate dealings which signify the ownership over a piece of land or real estate property. Property deeds are essential in the transfer or sale of property because they appropriately signify who the lawful owner of the property is, and also provide for a record in regards to previous owners as well. 

Quit Claim Deed Defined

Quit Claim Deed Defined

A quit claim deed is a document in which the transfer of property or land from the owner, identified as the grantor, is given to another individual or party, whom is labeled as the grantee. In some ways, the quit claim deed can be seen as a type of real estate document. 
However, most real estate deeds will usually contain some sort of guarantees made by the grantor to the grantee. A quitclaim deed will actually disclaims any particular vested interest that the grantor may have in the property or land, and such claim is transferred over to the grantee. 
A quit claim deed is used in certain circumstances, usually in the case of a divorce. In such a case, the grantor is giving complete rights to a property or asset to the grantee. The quit claim will eliminate all interests that the grantor has in the property, which both parties at one point had a vested interest in. 
It is important to note that the quit claim deed will only eliminate a party’s vested interest in a particular asset, though it does not necessarily guarantee that such property or asset is the guarantees outright. This can be a point of interest in the case that the property being transferred has other parties that have an interested, and have not seceded their own interests in the quit claim deed form to the grantee.

The Quick Facts on a Deed of Trust

The Quick Facts on a Deed of Trust

 
 A deed of trust is a written legal document that is commonly used in real estate. A trust deed essentially is a record of debt, in which the title of property is transferred to a third party to hold until the loan amount is paid off in full. A trust deed will also function as the document of title in terms of public record. 
 
 
Trust deeds are similar to mortgages in the fact that there is a borrower and lending party. Most states will tend to use the mortgage system for financing homes, though California, for example, will often times use a deed of trust. The main difference between a mortgage and a deed of trust is that there will be a third party involved, often times a title company. 
 
 
The title company is in charge of securing and keeping the trust deed as security for the lending party or company. Once the mortgage or loan is paid in full, the title company will then release the trust deed to the purchaser, and thus, also the title of owner ship of the property. Even though trusts deeds will be in the possession of the trust company, the actual title will still belong to the purchaser, as long as the payments are being made as required and the loan is not in default. The trust company will usually be a silent third party, only taking necessary action when there is a default in the loan. 
 
 
The trust company will be in charge of notifying the borrower regarding the back payments, which are to be made in full. If the notifications will not produce repayment, the lender will then have the authority to sell the property in order to pay off the loan. 

Life Estate Deed Explained

Life Estate Deed Explained

A life state deed is a type of legal document that is used in the United States in regards to the managing of real estate by the owner. Also known as a “lady bird” deed, the life estate deed is used to define the rights of a real estate or property owner stating that such person will have the right to use and/or sell the property until he/she dies. This process also allows for a smoother process when it comes to transferring the property to heirs in the event of the owner’s death, usually because it is effective in avoiding the probate process. 
The life estate deed is a unique type of legal document in the sense that it grants the property owner extended rights. The life estate deed will contain a clause in which it gives the owner the right to sell or transfer the real estate property without needing any consent. In other words, even if the property is meant to be willed to heirs in the event of the owner’s death, the owner will maintain the right to sell or transfer the property at any given time and at his/her choice. 
When considering a life estate deed, it is important to consult with the state or local regulations and laws, for not all states will allow the use of a life estate deed. However, some states that do allow life estate deed procedures are California, Florida, and Texas. 

Is it Easy to Conduct a Deed Search?

Is it Easy to Conduct a Deed Search?

Deeds will contain information regarding various kinds of assets, particularly real estate and property. Deeds can provide for an accurate record in regards to the history of property and even land values. 
A deed search may prove to be valuable tool for many doing research in terms of historical records and similar applications, though a deed search is most commonly used by those seeking to invest in real estate. Because a deed search can provide for a history regarding the various owners that may have at one point owned the property, it can give a potential buyer information regarding the overall history of the home or land. 
Conducting a deed search will require a degree of patience and time, though the results may prove beneficial in terms of making a decision to purchase a piece of land or real estate. A deed search can be done in different ways, though the most common will be to physically go where the local records of the town or city are kept. 
However, an easier approach will be to use the internet, for there are various services available that will conduct a deed search, usually for a fee. Conducting a deed search will usually provide for useful information, particularly in regards to the prices of previous transactions. Furthermore, in some cases, there will be photographs available, which can help provide for a chronological view as to how the property has changed and been maintained over the years. 

A Quick Overview of Grant Deeds

A Quick Overview of Grant Deeds

A grant deed is a legal document that is most commonly used in real estate dealings. The grant deed will allow for the legal transfer of the ownership to title from one party to another. In such case, the parties are defined as the grantor, the party transferring the title, and the grantee, the party receiving the title. When a grant deed is used, it will define that the grantor will be either giving the title or an interest in the property to the grantee, which will carry two particular guarantees. 
The first being that the grantor is the proper owner of the property or real estate that is being transferred, and that there are no other parties that have a stake in ownership or interest in such property. The second is that no other party has a legal right to the property, or a lien placed against it. Upon signing the grant deed, the grantor will give up all rights to the property, any vested interest, and ownership.
Though the two guarantees of grant deed will tend to be universally applied, there may be other variations regarding the contents and provisions of a grant deed. An example may be a jurisdictional requirement to have a proper description of the property that is being transferred. Furthermore, the signing of a grant deed may also require that witnesses be present, normally being a notary public. However, most grant deeds will not necessitate notarization in most states.