Types of Deeds: 5
Warranty DeedQuitclaim DeedMineral DeedTimber DeedAdmin. Deed
1. General Warranty Deed – This is the most comprehensive type of deed that provides the highest level of protection to the buyer. The seller or grantor guarantees that they have clear title to the property and will defend the new owner against any legal claims against the property.
2. Special Warranty Deed – This type of deed offers less protection than a general warranty deed. The grantor only guarantees that they have not done anything during their ownership that might have resulted in an encumbrance on the property title.
3. Quitclaim Deed – This type of deed transfers the ownership interest in a property from the grantor to the grantee, but it does not guarantee the existence of a title or that it is free from any impediments. The grantor simply releases any interest they have in the property to the grantee.
4. Grant Deed – This type of deed is similar to a warranty deed and offers a guarantee that the grantor has not sold, conveyed, or encumbered the property to anyone else during their ownership.
5. Trust Deed – This type of deed is a legal arrangement where the borrower provides security for a loan by giving the lender a security interest in the form of a trust deed. The lender has the right to sell the property to recover their investment if the borrower defaults on the loan.
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