Types (5)
Deed of Trust – A legal agreement by which a property title is transferred to a trustee so a borrower can secure a loan.
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General Warranty Deed – Under this type of deed, the grantor warrants that the property’s title has no liens or mortgages on it from themselves or any previous owners.
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Quit Claim Deed – A deed that guarantees that the grantor acquired no liens or mortgages on it from the period of their ownership and all previous owners.
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Release Deed – A deed that does not provide any warranty of the property title’s quality to the grantee.
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Life Estate Deed – An estate planning tool that reserves real estate to be transferred to a named beneficiary.
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Laws & Requirements
- Statutes: Chapter 183 – Alienation of Land
- Formatting:
- Signing Requirements (§§ 29, 30): Notary Public
- Where to Record: Registry of Deeds Office
- Recording Fees (Registry of Deeds Fee Schedule): $155