Indiana Grant Deed

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Multi-State
Control #:
US-03215BG
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Word; 
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Description

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.


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FAQ

Gift Deed ? A gift deed is a special type of grant deed that ?gifts? ownership of real property interest to another person or entity. This deed is different from a standard grant deed because it specifically designates that the transfer was not subject to a sale, and the grantor received no monetary compensation.

A grant deed, also known in many states as a limited warranty deed or a special warranty deed, gives the grantee some, but not all, of the assurances of a general warranty deed.

The County Recorder's Office will provide an official copy of a deed record for $1 per page (most deeds consist of 1 to 2 pages). If you encounter such a mailing, please call the Recorders Office (317-776-9717) or report it to the Indiana Attorney General's Office (1-800-382-5516).

The Bottom Line A deed is a written document that conveys title to or an interest in real estate when executed and delivered. Grant deeds fall in the middle of the spectrum in terms of buyer protections?they offer more protection than quitclaim deeds, but less than general warranty deeds.

Grant Deed. A grant deed is a legal document used in real estate transactions that transfers property ownership from one party (the grantor) to another (the grantee). It specifies the parties' names, a legal description of the property, and any relevant conditions or covenants associated with the transfer.

Gift Deed ? A gift deed is a special type of grant deed that ?gifts? ownership of real property interest to another person or entity. This deed is different from a standard grant deed because it specifically designates that the transfer was not subject to a sale, and the grantor received no monetary compensation.

Prepare your document We recommend you contact an attorney to help you draft your document. You may find a draft deed online, through your local library, or another source.

In Kentucky and Indiana, only long forms of deeds are available, meaning that reading the specific language of each deed is important. Quit Claim Deed. ... Limited Warranty Deed (sometimes called Special Warranty Deed). ... General Warranty Deed. ... Fiduciary Deed.

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Indiana Grant Deed