{"id":355,"date":"2023-07-17T17:14:52","date_gmt":"2023-07-17T17:14:52","guid":{"rendered":"https:\/\/www.federalstandardabstract.com\/?p=355"},"modified":"2023-07-17T17:23:59","modified_gmt":"2023-07-17T17:23:59","slug":"what-you-need-to-know-about-a-deed-in-a-real-estate-transaction","status":"publish","type":"post","link":"https:\/\/www.federalstandardabstract.com\/what-you-need-to-know-about-a-deed-in-a-real-estate-transaction\/","title":{"rendered":"What You Need to Know About a Deed in a Real Estate Transaction"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]During the home buying process, the transfer of property ownership from the seller to the buyer is a significant moment. Amidst the necessary paperwork to make this transition official, one crucial document is the property deed. In today\u2019s blog, we will provide you with all the information about the significance and intricacies of a deed in a real estate transaction.<\/p>\n

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What is a deed?<\/strong><\/p>\n

A deed is a legally binding document that functions as proof of ownership or an individual’s stake in a property. Primarily used in real estate transactions, it facilitates the transfer of ownership rights from one party to another.<\/p>\n

Deed vs title: What are the differences? <\/strong><\/p>\n

A deed and title are two distinct concepts in real estate. A deed is a legal document that transfers ownership of a property from one party to another. It serves as evidence of the transfer and includes details such as the parties involved, property description, and any conditions or restrictions. In contrast, a title refers to the legal right of ownership and possession of the property. It encompasses the entire history of ownership, including past transfers, liens, and encumbrances. While a deed is the physical document that facilitates the transfer, title represents the legal concept of ownership. A clear title ensures that there are no competing claims or issues that could challenge ownership rights.<\/p>\n

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What information is included in a deed?<\/strong><\/p>\n

A deed includes vital details such as the parties involved (grantor and grantee), property description (address, terms, conditions), granting clause (intent to transfer), consideration (value exchanged), habendum clause (ownership extent), exceptions\/reservations, covenants (title guarantee), and signatures with acknowledgment.<\/p>\n

What are the different types of deeds? <\/strong><\/p>\n

There are different types of deeds, but the most common types are warranty deeds and quitclaim deeds. A warranty deed guarantees that the seller has the legal right to sell the property and promises to defend the buyer against any claims to the ownership of the property. On the other hand, a quitclaim deed transfers ownership of the property from the seller to the buyer with no guarantee or promise of ownership.<\/p>\n

To learn more about different types of deeds, check out our video here<\/a>:<\/p>\n