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Difference Between a Grant Deed and Title Deed

Difference Between a Grant Deed and Title Deed

A grant deed and title deeds may prove to be somewhat similar for they both will deal with aspects regarding ownership of property or real estate. However, there is quite a significant difference between the two, for they both signify different things. 
Title deeds are documents that essentially provide for proof of ownership over property, real estate, and in some cases, vehicles as well. Property or real estate will be described in full and the owner’s name and signature will also be included in title deeds. 
A grant deed, on the other hand, will not necessarily provide for proof of ownership. A grant deed is the legal document that is used to indicate the transfer of property or real estate from one party to another. A grant deed will act more along the lines of a contract, where the involved parties, the grantor and grantee, will abide my certain provisions in order to secure the transfer of ownership of the property at hand. 
In other words, the grantor gives up the rights of ownership to the property and transfers them to the grantee, effectively making him/her the new owner. The grand deed is essentially the document that legally allows for the transfer of title deeds between two parties. 

Deed of Variation Explained

Deed of Variation Explained

A deed of variation is a legal document that is sometimes used and implemented in statutes regarding wills, trusts, and inheritance procedures. The deed of variation, also known as a disclaimer of interest, is actually a document that will essentially refuse the acceptance of any inheritance that is provided for in a will or trust. 
A disclaimer of interest may be enacted for various reasons, though they may all revolve around the simple fact that the inheritance will create some sort of inconvenience to their would-be heir. An example would if the inheritance were to have an effect on income taxes that would need to be paid as a result of inheriting an asset or property. 
The deed of variation would, in such a case, would treat the would-be heir as if they had died before the will or trust would come into effect. The reason for this may be for that person’s own children or relatives to be able to take his/her place, and thus, possibly benefit from the inheritance and no gift tax would be applied. 
Disclaimer of interest documents must be made and writing and properly submitted to the appropriate court of law overseeing the administering of the will or trust. However, a deed of variation must be filed within a certain amount of time after the death of the person which has created the will or trust. 
Typically speaking, a deed of variation must be filed within nine months after the death of such person in order to legally and properly refuse the inheritance. In the case that the inheritance or trust is created by a person still living, a disclaimer of interest must be filed within twelve months of the creation of the trust. 

Deed of Assignment

Deed of Assignment

A deed of assignment is a legal document that is used in the transfer of real estate and land property. The deed of assignment is a very important document that should be kept at safely stored at all times, particularly in the case of real estate. The deed of assignment can generally be defined as a document which is drafted to guarantee or promise that the transfer of ownership of a property will commence on a particularly defined date. The deed of assignment, in other words, is a document that is evidence of a transfer of ownership, with the stipulation that there is a certain time period in which actual ownership is to commence. 
There are various situations in which a deed of assignment may be needed, though the most common occurs in the transfer of ownership in regards to property. An example may be when a developer of a new home signs a deed of assignment to a purchaser, stating that the property will be his/hers on such a given date. However, the purchaser may decide to sell the home to another person, which will also require a deed of assignment. This is necessary because the actual title deed of the home is most likely not to have been issued, and the deed of assignment essentially acts a temporary title deed. For every time that a property is to be sold before a title deed is issued, a deed of assignment will be needed. 

Warranty Deeds at a Glance

Warranty Deeds at a Glance

A warranty deed is a commonly used legal document in the realm of real estate. The warranty deed essentially guarantees that the seller of the property or real estate guarantees that the such property is free of any encumbrances, such as liens or mortgages, and the he/she is lawfully allowed to sell the property. The warranty deed will effectively protect the buyer of the house, guaranteeing that there will be no outside parties claiming ownership or vested interest in the property or real estate. 
 
 
There are two general types of warranty deeds. The general warranty deed is one that holds the guarantee of the owner or seller extends as far as the creation or construction of the property or home. A special warranty deed limits the term of the guarantee strictly the time that the owner or seller has occupied and owned the property. In other words, a special warranty does not exclusively guarantee that there are no mortgages, liens, or interested or involved parties in regards to the home or real estate property. 
 
 
This is an important aspect to consider, for the differences in warranty deeds can surely have an impact on the buyer. Typically speaking, a buyer will not be made aware of any liens or mortgages on a property or home until after the purchase transaction is completed. A general warranty protects the buyer, allowing to take legal action against the seller of the property in the case that an encumbrance is found after the transaction of property. 

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.

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