Ohio Fiduciary Deed for use by Executors, Trustees, Trustors, Administrators and other Fiduciaries
Description Deed Use Fiduciaries
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Attorney Involvement An attorney licensed to practice law in Ohio must prepare deeds, powers of attorney, and other instruments that are to be recorded. One exception is that a party to the transaction may prepare an instrument in which they are a party.
A fiduciary deed is used to transfer property when the executor is acting in his official capacity. A fiduciary deed warrants that the fiduciary is acting in the scope of his appointed authority but it does not guarantee title of the property.
Fiduciary Deed: A deed given by a court-appointed fiduciary. This usually happens with a guardian, executor, receiver, or administrator. It may or may not include a warranty. Usually, it includes only the right title and interest of the person whom the fiduciary represents.
Fiduciary deeds are just one of several types of deeds used in property transfers. This type is used to transfer property such as real estate when the owner can't sign a deed for legal or other reasons. Fiduciary deeds are commonly employed when settling estates and the original owner of the property is deceased.
A fiduciary deed is for use by a fiduciary such as an executor or administrator of an estate or a trustee of a trust. In this type of deed there is a warranty, but only as a fiduciary. A fiduciary does not own the property, rather they essentially manage it for another.
Three basic types of deeds commonly used are the grant deed, the quitclaim deed, and the warranty deed. A sample grant deed. the property he or she is transferring is implied from such language.