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.
A North Dakota Grant Deed is a legal document used to transfer ownership or interest in real property from one party to another in the state of North Dakota. This type of deed is commonly used in real estate transactions to ensure a clear and legal transfer of property. A North Dakota Grant Deed includes several important elements such as the names and addresses of the granter (current owner) and grantee (new owner), a legal description of the property being transferred, and the signatures of both parties involved. The document also needs to be notarized and recorded with the appropriate county office to make the transfer of ownership officially recognized. It's worth noting that in addition to the standard North Dakota Grant Deed, there are a few other types of deed commonly used in the state: 1. North Dakota Quitclaim Deed: This type of deed also transfers ownership, but it does not provide any guarantees or warranties regarding the property's title. It simply transfers any interest the granter may have in the property to the grantee. 2. North Dakota Special Warranty Deed: This deed provides limited warranties to the grantee. It guarantees that the granter has not done anything to encumber the property during their ownership, but it does not cover any potential issues that may have existed prior to their ownership. 3. North Dakota Warranty Deed: This is the most secure type of deed for the grantee. It provides full warranties and guarantees that the granter holds clear title to the property and is responsible for any potential issues that may arise. It's important for both parties involved in a real estate transaction to carefully consider the type of deed being used and consult with legal professionals to ensure the best approach for their specific situation. Using the correct type of deed can help protect both the granter and grantee and provide a smooth transfer of ownership.
