A North Carolina deed legally transfers ownership of real estate from a grantor (old owner) to a grantee (new owner) and may include warranties to protect the property’s title. The extent to which the title is protected differs from deed to deed. A general warranty deed is the safest option for the grantee; it holds the grantor accountable for existing title encumbrances, even those originating before they acquired ownership. On the other hand, a quit claim deed provides no title assurances at the benefit of being a quick and easy way to facilitate the transfer of property.
Deed of Trust – Transfers a grantor’s property title to a trustee to hold as loan security (collateral). The title will be returned to the grantor when the loan is repaid.
General Warranty Deed – Transfers property with a guarantee that the grantor’s ownership is valid and that the title is free from liens, claims, and all other encumbrances.
Quit Claim Deed – Provides no title warranties or covenants to protect the grantee. The property’s title is transferred “as is.”
Special Warranty Deed – Guarantees that the grantor has not caused any title encumbrances during their ownership, but does not warrant the title against encumbrances caused by former owners.
- Statutes: Chapter 47 – 47H
- Formatting: § 161-14(b)
- Signing Requirements (§ 47-38): Notary Public
- Where to Record (§ 47H-2(d)): Register of Deeds
- Recording Fees (§ 161-10(a)(1) & § 161-10(a)(1a)):
- Deeds in General – $26 for the first fifteen (15) pages + $4 for each additional page
- Deeds of Trust – $64 for the first thirty-five (35) pages + $4 for each additional page
- Property Disclosure Statement (§ 47E-4(b)): Completed by the seller and delivered to the buyer to inform them of material defects affecting the property (required for residential transactions only).
- Mineral, Oil, and Gas Rights (§ 47E-4.1): A mandatory disclosure for most residential real estate sales.