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| Radiant Group |
A deed is a legal
instrument in writing which
passes, affirms or confirms an interest, right, or property and that is signed, attested,
delivered, and in some jurisdictions sealed. It is commonly associated with
transferring title to property.
Real estate service provider, ‘Radiant Group’ recommends having a fair idea about the major real estate
deeds to ensure litigation and hassle free real estate transaction. Some of
them are given below:
·
A ‘Warranty Deed’ acts as a guarantee to the
buyer that the seller has the right to sell the property, and that the property
is free of debt or other liens. It is often used in a real estate deeds. The
seller must defend the title against any and all other claims, and compensate
the buyer for any unsettled debts or problems. Warranty
of title and warranty against encumbrances gets covered under this deed.
Warranty deed is further categorized as ‘General Warranty Deed’ and ‘Special
Warranty Deed’.
·
‘Quitclaim Deed’ is referred as non warranty deed as it
offers the least amount of protection to the grantee. In this deed
grantor conveys whatever interest they may have in the real estate to the grantee
without any warranty whatsoever. So, if the Grantor has no interest in the
property then the grantee will receive no interest.
·
‘Bargain and Sale Deed’ is typically used in residential real estate sales or
sales of court-seized properties, it transfers
ownership of a property from the seller to the buyer where it generally does
not guarantee to the buyer that the seller owns the property free and clear.
Ignorance of deeds usually impacts the transferability of the property and can restrict its
free use. Having a fair knowledge of these deeds will help in protecting the
investment done in the real estate by the customers.
For more details visit: www.radiantstructures.in
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