Quitclaim deeds are typically used to quiet a cloud on the title. A quitclaim deed provides the least amount of protection for the buyer because no promises are made, not even the promise of ownership. This is where the seller quits claiming rights to the property but makes no promises whatsoever. The fourth type of deed is called a quitclaim deed.
With a bargain and sale deed, the only promise the seller makes is that the seller owns the property. This is commonly used by relocation companies who own property for a short time and then resell the property. The seller promises everything has been alright since they have owned the property however, there are no promises before that. This type of deed puts a time frame on the seller’s promises. The second type of deed that can be used is called a special warranty deed. Another promise made by the seller is a promise of quiet enjoyment, meaning that the buyer does not have to worry about any third-party claims against ownership of the property in the future. One promise made by the seller is what we call the covenant of seisin, which means that the seller owns the property. Several promises are made to the buyer, which is why this deed provides the best protection for the buyer. A general warranty deed is by far the most commonly used type of deed. There are several types of deeds that can be used in the transfer of real estate. Thus, the title is transferred to the buyer. This is accomplished by the grantor (seller) giving a deed to the grantee (buyer). Basically, this is a fancy way of saying you sold your house.
VOLUNTARY CONVEYANCE OF DEED FREE
“Voluntary,” tells us this is an act of your own free will. Voluntary AlienationĪ typical sale of real estate is considered to be a transfer of property by voluntary alienation. This can cover several different circumstances, such as foreclosure, adverse possession, or a property owner dying intestate (without a valid will).
This simply means the property owner did not choose to sell the property of their own free will. Lastly, we will discuss the most unfortunate way property is transferred, through involuntary alienation. When a property owner dies, the property will be transferred according to the will of the deceased. Another way property is transferred is through a will. This is what we call the process of someone selling their house of their own free will. The most common way to transfer property is through voluntary alienation. Property can be transferred in a few different ways, depending on the circumstances. Today, we discuss the different ways property can be transferred.
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