
Warranty,
Quitclaim, and Trust Deed Forms (see definitions below) are available for every state and the District
of Columbia. When you purchase
attorney-prepared deed forms from us you can be sure that you are getting forms
that are accurate, up-to-date, and legal in your state or district.
If
you should download forms and find that they are not appropriate for your needs
you can take advantage of our 100% money-back guarantee on all of your deed
forms.
Deeds are documents used to transfer ownership in real
property from one party, the Grantor, to another party, the Grantee. Real property is land and anything attached
thereto, such as a house, or barn, or crops, or trees. The two most common deed forms are Warranty
Deeds, called Grant Deeds in some jurisdictions, and Quitclaim Deeds. While both deed forms are used to convey
ownership interest in real property, there are very important differences.
A Warranty Deed transfers ownership from the Grantor to
the Grantee, and the Grantor warrants that the title being transferred
is clear and free of any claims against the title, except as specifically
stated on the Warranty Deed. That is, if
a third party subsequently appears, claiming an ownership interest in the
property, the Grantor will defend Grantee’s ownership or return the purchase
consideration. It is because of this
liability on the Grantor that title insurance is frequently obtained.
A Quitclaim Deed transfers only that ownership interest
in real property that the Grantor may have to the Grantee. It does not warrant that the Grantor has any
ownership interest nor does it warrant that other parties do not have ownership
interest. This form of deed does not
leave the Grantor with any residual liability.
A typical use of this deed form is when one party to a divorce
relinquishes his/her ownership interest in jointly owned real property.
A third fairly common deed form is a Deed of Trust or
Trust Deed. This deed form transfers
title to a Trustee, typically as security for an obligation such as a mortgage
or promissory note. Usually a Deed of
Trust spells out the details of the loan, and grants the lender the right to
seize and sell the property in the event of default. It also usually provides for the reconveyance
of the property back to the Grantor upon satisfaction of the loan requirements.