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General warranty deed It's the type of deed that offers the most buyer protection. When committing to a general warranty deed, the seller is promising there are no liens against the property, and if there were, the seller would compensate the buyer for those claims.

There are four commonly seen deed categories: Quit Claim, Warranty, Special Warranty, and In Trust Deeds. When buying or selling real estate, it is important to understand the differences in each type of deed.

A deed transfers the title of an asset to a new owner, and it is usually recorded in the local county clerk's office. Recording is a way to protect title and ownership because it puts the public on constructive notice as to the buyer's ownership. In real estate transactions, a deed is usually delivered at closing.

Essentially, deeds are the trail of documents that prove a property's ownership. This can include contracts for sale, mortgages, the lease, conveyancing documents and wills. Note that a deed is executed with a witness, whereas a contract simply requires a signature.

Special warranty deeds are most commonly used in commercial real estate transactions. Grant deeds ? Grant deeds work much like general warranty deeds with one important exception. Like general warranties, grant deeds guarantee that the seller has the right to sell the property and that it's free of liens and debt.

General warranty deed: A general warranty deed is the most common type of deed used to transfer fee simple ownership of a property. Unlike a quitclaim deed, a general warranty deed does confirm a grantor's ownership and a legal right to sell.

Simply, a deed is a written instrument that includes a legally enforceable promise to do something. These documents are commonly used to transfer real property ownership between individuals. There are three main types of deeds namely general warranty deeds, special warranty deeds, and quitclaim deeds.