Deed
§ Transfers legal title on the day of closing
A deed is a legal document used to transfer ownership or interest in a piece of property from one party to another. It is a written document that outlines the rights and responsibilities of the parties involved in the transfer of the property.
Generally, deeds contain the names and addresses of both the grantor (seller) and the grantee (buyer), a description of the property being transferred, the date of transfer, the purchase price (if any), and any special conditions or restrictions that may be placed on the property.
There are various types of deeds including warranty deeds, quitclaim deeds, special warranty deeds, and trustee deeds. Each type of deed serves a specific purpose and the choice of which to use depends on the situation.
In most cases, deeds must be signed in the presence of a notary public and recorded with the local government agency responsible for maintaining property records. This helps to ensure that the transfer of ownership is properly documented and can be referenced in the future if necessary.
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