Types (5)
Deed of Trust – An agreement used by buyers who intend on taking out a loan to purchase property. A third party (the “trustee”) holds onto the title until the loan is repaid in full.
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General Warranty Deed – Provides the grantee with full protection over the title.
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Life Estate Deed – Puts the grantor’s real estate in an estate so that it transfers to the grantee when they die.
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Special (Statutory) Warranty Deed – Guarantees the property’s title is free of issues starting from the date the seller (grantor) first owned it (i.e., does not cover any previous owners).
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Quit Claim Deed – Offers no warranties to the buyer (grantee). Ideal for property transfers between family members or parties with a high level of trust.
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Laws & Requirements
- Statutes: Title 35, Chapter 4
- Formatting: No state-wide formatting. Counties may have specific requirements.
- Signing Requirements (§ 35-4-20): If the grantor cannot sign, the deed must be signed by two (2) witnesses. If the grantor can sign, they must have their signature acknowledged by a notary or one (1) disinterested witness.
- Where to Record: Probate Court
- Recording Fees: Fees are set by the probate judge of each county.
- Real Estate Sales Validation (Form RT-1): Must be filed simultaneously with the deed.