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.
Puerto Rico Grant Deed is a legal document used to transfer ownership and legal title of real property in Puerto Rico. It is an important instrument that proves the transfer of the property rights from one party, known as the granter, to another party, known as the grantee. This document includes all the necessary details about the property, the individuals involved in the transaction, and any encumbrances or limitations on the property. A Puerto Rico Grant Deed typically includes the following key elements: 1. Parties Involved: The granter, who is the current owner of the property, and the grantee, who is the intended recipient of the property rights. 2. Property Description: A detailed and accurate description of the property being transferred, including its physical location, boundaries, and any relevant identifying features. 3. Consideration: The amount or value exchanged between the granter and grantee for the transfer of property rights. This may include monetary payments, services, or other types of consideration. 4. Covenants: Puerto Rico Grant Deed may include certain covenants, which are legally binding promises made by the granter to the grantee. Common covenants include the granter's assurance that they have the legal right to transfer the property, that it is free from any undisclosed encumbrances, and that the grantee will have quiet enjoyment of the property. Types of Puerto Rico Grant Deeds are as follows: 1. General Warranty Deed: This type of grant deed provides the highest level of protection for the grantee. The granter guarantees that they have a clear and marketable title to the property and will defend the grantee against any claims that may arise in the future. 2. Special Warranty Deed: Similar to a general warranty deed, a special warranty deed also provides some level of protection to the grantee. However, the granter guarantees the property's title only against claims that may have arisen during their ownership and not against any claims that may have existed before they acquired it. 3. Quitclaim Deed: A quitclaim deed is a simpler form of transfer where the granter essentially transfers their rights and interests in the property to the grantee. However, this type of deed does not provide any warranties or guarantees regarding the property's title. It is commonly used in situations like transferring property between family members or resolving boundary disputes. In conclusion, a Puerto Rico Grant Deed is a legal document that facilitates the transfer of property ownership. It is essential to understand the different types of grant deeds available to determine the level of protection and guarantees provided to both the granter and grantee.
