A deed of conveyance transfers ownership of a property from one party to another. This document must be written, signed, witnessed, and notarized. It must also contain essential information, including the current owner’s name, address and marital status, the new owner’s name, address and marital status, a legal description of the property, and must be recorded with the county.
If you are uncertain as to the appropriate deed for your real estate transaction, contact a real estate attorney for assistance. All deeds convey simple ownership of property, except the Quit Claim Deed.
Warranty deeds are the most common types of deeds used in Florida residential real estate transactions. A warranty deed hands over the property’s full title and fully warranties the title against any and all claims affecting clear and marketable title..
Special Warranty Deeds
A special warranty deed is typically used for commercial real estate transactions. They provide the same warranty as a warranty deed, except that the warranted period is only during the time that the seller held title. Any claims affecting clear and marketable title which arose before the seller became vested with title are not warranted.
The Fee Simple Deed
A fee simple deed, sometimes called a bargain and sale deed, offers no warranties or guarantees and provides little protection.
A quitclaim deed makes no promises or warranties. It provides the grantee no protection that the property’s title will be clean, unlike warranty and special warranty deeds. Actually, the quitclaim deed does not technically convey title to the property. Rather, it conveys “any interest” the grantor may or may not have in the property. If the grantor has no interest in the property, the quitclaim deed conveys nothing. Quitclaim deeds are primarily used to correct title issues where there is a question as to whether the grantor has some rights that may interfere with another’s title to or use of the property.
Which Deed is the Right One for You?
If you are not sure which deed you need, it is essential to ask yourself if a warranty on the title is necessary. If so, a warranty deed is most likely the best option. It is important to consult a real estate attorney when deciding which deed is right for your transaction.
Florida National Title is available to help with many of your real estate needs. Florida National Title Services works under the supervision of attorneys Michele Lewis and Richard S. Weinstein, experienced real estate attorneys. They work to ensure the title of the home you desire is clear and marketable and that title insurance policies are properly issued.
Florida National Title Services provides expert title services. When you are renting, we can help with every step of the way. Florida National Title has years of experience guiding Florida homebuyers through the real estate purchase and refinance experience and has helped them solve the problems that come up in the process. We will decipher the “legalese” and explain what we need and why we need it each step of the way. The blogs to follow will address specific issues to guide buyers to understand the process better and to help them avoid many of the pitfalls. Call us at (561) 408-0729 or visit our website.
Florida National Title Services, LLC
250 S. Central Blvd., Suite 101
Jupiter, Florida 33458
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