A Tennessee deed is a written document used in the conveyance of real property. The deed will indicate the names of the grantor and grantee (the current and new owner) and state whether the grantor is the legitimate title holder. The type of deed used will determine whether warranties/covenants against encumbrances are included in the transfer and who will be liable should they arise. As claims against the title unbeknownst to the grantor may appear after the transfer, “warranty” deeds are most commonly used in sales and ensure the grantee is not liable should such an event occur.
Other scenarios will instead call for a quit claim deed, such as when transferring real estate as a gift, or from one spouse to the other following a divorce. This deed type offers no guarantees of a clean title, so it should be reserved when the parties are familiar with each other and the title’s history.
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.
General Warranty Deed – A deed that guarantees the grantor is the rightful title holder and will be liable for claims against the property.
Quit Claim Deed – Does not certify the grantor as the title holder or provide security against title encumbrances.
Special Warranty Deed – The grantee is only protected against title encumbrances from the grantor’s period of ownership.
- 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.”