A conveyance deed is a document used to transfer a real property title from the current owner (the “grantor”) to a buyer (the “grantee”). The specific type of deed used to convey title varies depending on state law, but here are some common examples that NSAs may come across:
General Warranty Deed: This document conveys the grantor’s interest in and title to the property. A General Warranty Deed also ensures that if the title is defective or has a “cloud” (such as a tax lien or mortgage claim on the title), the grantee may hold the grantor liable.
Quitclaim Deed: This document transfers the owner’s current interest in a title to the grantee. A quitclaim deed does not guarantee the grantor’s ability to convey title.
Grant Deed: A grant deed transfers title to real property or a real property interest from the grantor to the grantee and warrants that the grantor owned the title to the transfer.
Are notarization requirements necessary for conveyance deeds?
A deed must be signed by the grantor and, before being recorded in the land records, be acknowledged before a Notary. In some states, proof of execution by a subscribing witness may be allowed if the grantor cannot appear before a Notary in person.
What types of transactions involve a conveyance deed?
Conveyance deeds are used in transactions where a property is being sold to a new owner or buyer. They are also utilized when transferring a title to a family member. Another scenario involving a conveyance deed is when an individual places their home in a living trust. Refinancing transactions may require the home to be temporarily removed from the trust and then placed back afterward. In such cases, Signing Agents may come across one or more conveyance deeds among the documents in the loan package.
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