The Alameda California Granting Clause is a legal provision that outlines the transfer of property rights from a granter (owner) to a grantee (recipient) in the city of Alameda, California. This clause is typically found in real estate deeds and is crucial for establishing ownership and title over a property. The Alameda California Granting Clause contains specific language that explicitly conveys the granter's intention to transfer the property to the grantee. It includes key details such as the full legal description of the property, any limitations or conditions imposed on the transfer, and the granter's assurance of lawful ownership and the right to transfer. In Alameda, California, there are different types of Granting Clauses that may be used, depending on the specific transaction or circumstances: 1. General Warranty Clause: This type of Granting Clause guarantees the grantee that the granter holds clear and marketable title to the property, and will defend the grantee against any future claims or disputes. 2. Special Warranty Clause: This clause is less comprehensive than the General Warranty Clause. Here, the granter guarantees that they have not personally caused any defects or encumbrances on the property title during their period of ownership. However, they do not provide any assurances regarding previous ownership periods. 3. Quitclaim Clause: Unlike the previous two clauses, the Quitclaim Clause offers no warranties or guarantees regarding the property title. It simply conveys whatever interest or rights the granter may have in the property at the time of the transfer. Regardless of the specific type, the Alameda California Granting Clause plays a critical role in securing property rights and ensuring a smooth transfer of ownership. It protects both the granter and the grantee by establishing a legally binding agreement that clearly defines the terms and conditions of the property transfer.
Alameda California Granting Clause
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In Alameda County, the seller is typically responsible for the country transfer tax fee as well as 50% of the city transfer taxes. The buyer pays for the recording, escrow, title and 50% of the city transfer taxes.
A grant deed is a form of such written proof that an individual owns a property that also provides title guarantees to the new owneri.e., insurance that the property title is free of claims or liens and the new owner has the right to sell or transfer the property to another.
In addition to the basic recording fee of $89.00 for the first page and $3.00 for each page thereafter, there are other fees which may be due on deeds and leases. Collection of fees include: Documentary Transfer Tax.
The county tax rate is the same across the state of California. This means that every county, including Alameda, has a rate of $1.10 per $1,000 of the assessed property value. So, if you purchase a house that costs $600,000, you are required to pay $600 in county transfer taxes.
In order to accomplish this, you can't just pen in the name on your deed. You'll need to transfer an interest by writing up another deed with the person's name on it. In California, you can use either a grant deed, a quitclaim deed or an interspousal deed, depending on your circumstances.
Take the deed to the recorder's office in the county where the property is located. Complete a Preliminary Change of Ownership Report, available in the recorder's office and online, by providing the names of the grantor and grantee, the type of transfer, the terms of transfer and the transfer price.
If you need a copy of the current deed, contact or visit the Alameda County Recorder's Office. Copies of deeds are not available off the internet. There is an online name index. Copies of the document itself must be obtained from the Recorder's Office Public Records Room.
The easiest way to grant your spouse title to your home is via a quitclaim deed (Californians generally use an interspousal grant deed). With a quitclaim deed, you can name your spouse as the property's joint owner. The quitclaim deed must include the property's description, including its boundary lines.
After you purchased your property, chances are, you will receive some official-looking mails selling you the services of obtaining grant deed for your property. They normally charge anywhere between $50 to $100.
How to Calculate Documentary Transfer Tax. For example, on a property valued at $21,100, the amount of the County's Documentary Tax would be calculated by rounding up the amount to $21,500, dividing $21,500 by $500, and multiplying that number by $0.55 for a total of $23.65.