A deed is an instrument by which an owner (the grantor) transfers an interest in land to a new owner (the grantee). No consideration is required to make the deed effective. The deed is necessary to transfer title to land even if it is a gift. It has no effect, and title does not pass until the deed has been delivered. The recording of the deed is not required to make the deed effective to pass title between the buyer and the seller. However, recording is necessary so that the public will know that the buyer is the present owner. Recording constitutes "notice to the world" of the transfer in title.
The grantor is the person selling the property. The grantee is the person buying the property. A grant deed is a deed containing an implied warranty that there are no encumbrances on the property not described in the deed and that the person transferring the property actually owns the title. It must describe the property by legal description of boundaries and/or parcel numbers, be signed by all people transferring the property, and be acknowledged before a notary public. It is in contrast to a quit claim deed, which only conveys the interest that the transferor actually owns, if any, without a warranty of ownership.
Idaho Grant Deed: A Detailed Description and Types A Grant Deed is a legally binding document used in Idaho and several other states to transfer the ownership of real property from one party to another. This deed offers certain assurances or covenants about the title and guarantee that the property has not been granted to anyone else or encumbered by any unforeseen claims. Both parties involved in the transfer, commonly referred to as the granter (seller) and the grantee (buyer), must sign the Grant Deed for it to be valid. Main Elements of an Idaho Grant Deed: 1. Legal Description: The Grant Deed should provide a detailed and accurate description of the property being transferred. It typically includes information such as the property's boundaries, lot number, and other identifying factors necessary for precise identification. 2. Granter and Grantee Details: The Grant Deed must clearly mention the full legal names and addresses of both the granter and grantee. Their addresses are crucial for serving legal notices in case of any disputes. 3. Conveyance Language: This section includes the granter's intent to transfer ownership to the grantee. Phrases such as "grant, sell, and convey," or similar terms, are commonly used. 4. Consideration: The Grant Deed should state the consideration or the price paid for the property. The accurate consideration amount is essential for recording the appropriate transfer tax. The Idaho Law recognizes different types of Grant Deeds based on the specific circumstances or additional requirements imposed by the parties involved. Two common types are: 1. General Warranty Deed: This type of Idaho Grant Deed provides the highest level of protection to the grantee by guaranteeing that the granter holds clear, undisputed title to the property and will defend against any claims, even if they arose prior to the granter's ownership. It assures the buyer of receiving "good and marketable" title. 2. Special Warranty Deed: In this type of Grant Deed, the granter only guarantees that they haven't created any undisclosed encumbrances during their ownership tenure. It offers protection against claims or defects that may have arisen during the granter's ownership but not prior to it. 3. Quitclaim Deed: While not technically a Grant Deed, Quitclaim Deeds are also commonly used in Idaho for property transfers. These deeds do not provide any warranties or guarantees about the title and are typically used for transfers between family members, divorcing spouses, or to correct minor title issues. In conclusion, an Idaho Grant Deed is a critical legal document facilitating the transfer of real property with certain assurances of title. Understanding the different types of Grant Deeds available, such as General Warranty Deeds, Special Warranty Deeds, and Quitclaim Deeds, is essential to ensure the appropriate level of protection and transparency during real estate transactions.Idaho Grant Deed: A Detailed Description and Types A Grant Deed is a legally binding document used in Idaho and several other states to transfer the ownership of real property from one party to another. This deed offers certain assurances or covenants about the title and guarantee that the property has not been granted to anyone else or encumbered by any unforeseen claims. Both parties involved in the transfer, commonly referred to as the granter (seller) and the grantee (buyer), must sign the Grant Deed for it to be valid. Main Elements of an Idaho Grant Deed: 1. Legal Description: The Grant Deed should provide a detailed and accurate description of the property being transferred. It typically includes information such as the property's boundaries, lot number, and other identifying factors necessary for precise identification. 2. Granter and Grantee Details: The Grant Deed must clearly mention the full legal names and addresses of both the granter and grantee. Their addresses are crucial for serving legal notices in case of any disputes. 3. Conveyance Language: This section includes the granter's intent to transfer ownership to the grantee. Phrases such as "grant, sell, and convey," or similar terms, are commonly used. 4. Consideration: The Grant Deed should state the consideration or the price paid for the property. The accurate consideration amount is essential for recording the appropriate transfer tax. The Idaho Law recognizes different types of Grant Deeds based on the specific circumstances or additional requirements imposed by the parties involved. Two common types are: 1. General Warranty Deed: This type of Idaho Grant Deed provides the highest level of protection to the grantee by guaranteeing that the granter holds clear, undisputed title to the property and will defend against any claims, even if they arose prior to the granter's ownership. It assures the buyer of receiving "good and marketable" title. 2. Special Warranty Deed: In this type of Grant Deed, the granter only guarantees that they haven't created any undisclosed encumbrances during their ownership tenure. It offers protection against claims or defects that may have arisen during the granter's ownership but not prior to it. 3. Quitclaim Deed: While not technically a Grant Deed, Quitclaim Deeds are also commonly used in Idaho for property transfers. These deeds do not provide any warranties or guarantees about the title and are typically used for transfers between family members, divorcing spouses, or to correct minor title issues. In conclusion, an Idaho Grant Deed is a critical legal document facilitating the transfer of real property with certain assurances of title. Understanding the different types of Grant Deeds available, such as General Warranty Deeds, Special Warranty Deeds, and Quitclaim Deeds, is essential to ensure the appropriate level of protection and transparency during real estate transactions.
