What are the deeds?
The document is a legal document that transmits the title of property ownership from one party (seller) to the other (buyer). In most cases, the documents must be registered with the district recorder of the city in which the property exists. The groups are signed by the seller and the buyer in the presence of a notary. There are several different types of real estate. This is followed by a list with a short explanation of each type.
General warranty list: This is the most common type of document. In the field of general warranty , the seller ensures that no other party is interested in the property, regardless of the exceptions recorded in the document. If the Buyer should later discover the burden on the deed, he may sue the seller. Insurance companies usually require a general guarantee before granting insurance to the buyer.
Limited warranty list: and Limited warranty which the current owner owned the property. It does not guarantee the previous period, as well as the general warranty list.
Claims ended: and to terminate the claim The document is used when a person wants to hand over his interest in property to others. The party "stops claiming" the property. The terminated fees do not include the guarantee of the buyer that the seller has actual ownership or interest in the property. If it happens that the property is otherwise burdened, the buyer is not lucky.
Life Estate List: This type of act is used when the owner wants to refer to his property directly to another person after death. The person appointed in the Charter of Life Property is referred to as residual. The place must grant the rest, sign a new deed and share any profits.
Transfer of Death Deeds: DueThe property allows this newer type of document to the living owner to maintain all rights to property until death. Only then will he take over the property. This type of act also avoids exploring the will, but allows the living owner to change his mind, sell assets or name another recipient, all without requiring consent or even knowledge of the recipient.
Survivorship Deeds: and Survivorship The document is commonly used by couples that want to make sure their property goes directly to the survivor after one partner's death. However, when the other partner dies, this property is the subject of exploration. With the Charter for Survival, the last surviving party appointed in the Charter of Full of Property is acquired. Therefore, it is not recommended for situations in which the property should be evenly distributed between children or other parties.
While this article provides general information, it is not advice. Consult a licensed expert who is familiar withThe laws of your state, where you will find instructions on the type of deed that best serves your purposes and will protect your investment.