Contents |
Types (4)
Deed of Trust – An agreement where a debtor buying a property and lender financing their purchase select a third-party trustee to hold the title until the loan is returned.
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General Warranty Deed – A deed that guarantees the grantor is the rightful title holder and will be liable for claims against the property.
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Quit Claim Deed – Does not certify the grantor as the title holder or provide security against title encumbrances.
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Special Warranty Deed – The grantee is only protected against title encumbrances from the grantor’s period of ownership.
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Laws & Requirements
- Statutes: Title 66 – Property
- Formatting: § 66-5-103, § 66-24-110, § 66-24-114, § 66-24-122, § 67-4-409(6)(A). Exact formatting requirements may vary from county-to-county.
- Signing Requirements (§ 66-22-101): Notary Public or Two (2) Witnesses
- Where to Record (§ 66-5-106): County Register of Deeds
- Recording Fees (§ 8-21-1001): $12 ($10 registration fee + $2 service fee) for the first two (2) pages, $5 for each additional page.
- Property Disclosure Statement (§ 66-5-202): A required statement used to let an interested homebuyer know a property’s conditions. A property seller is exempt from providing this document if the buyer is purchasing the property “as-is.”