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 Grant Deed is a legal document used in Oregon to transfer ownership of real estate property from one party to another. It is commonly used in real estate transactions to provide evidence of the transfer and protect the rights of both the buyer and the seller. This document ensures that the property title is clear and free from any undisclosed claims or liens. In Oregon, there are two main types of Grant Deeds: General Warranty Deed and Special Warranty Deed: 1. General Warranty Deed: This type of Grant Deed provides the highest level of protection for the buyer (grantee). It guarantees that the seller (granter) has full legal ownership of the property and ensures that there are no undisclosed encumbrances, defects, or other claims against the property. The granter promises to defend the grantee against any future claims arising from the property's ownership history. 2. Special Warranty Deed: Unlike the General Warranty Deed, the Special Warranty Deed provides a limited warranty to the grantee. It only guarantees that during the granter's ownership, no undisclosed encumbrances, defects, or claims against the property occurred. This means that the granter is not responsible for any issues that may have arisen prior to their ownership. Both types of Grant Deed must be in writing and signed by the granter. Additionally, they are required to include specific information such as the granter and grantee's names, the property's legal description, the purchase price (consideration) paid for the property, and the granter's notarized signature. When drafting or reviewing an Oregon Grant Deed, it is crucial to ensure its accuracy and compliance with state laws. It is recommended to consult a qualified real estate attorney or a licensed title company to handle the preparation and recording of the grant deed to ensure a smooth and legally valid transfer of property ownership in Oregon.
