Did you know that the most common types of deeds include general warranty deeds, special warranty deeds, quitclaim deeds, and special purpose deeds?
To ensure a smooth and successful transfer of ownership, it’s essential to understand the various types of deeds and their specific requirements.
You will also need to know how to properly execute the deed and ensure that all necessary parties are involved in the process.
To make things easier for you, we have put together a deed preparation guide. Keep reading if you want to find out more.
Understand the Different Types of Deeds
There are several types of deeds that you should be aware of when it comes to transferring ownership of real estate. Here are some common types of deeds.
This type of deed provides the most protection for the buyer. This is because it guarantees that the seller holds clear title to the property and will protect the buyer from any future claims.
This type of deed is often used to transfer property between family members or when the seller is uncertain of their ownership rights. It does not offer any guarantees or warranties regarding the property.
Special Warranty Deed
A special warranty deed provides some protection for the buyer. But it only warrants against defects in the seller’s title that occurred during the seller’s ownership of the property.
This type of deed is similar to a warranty deed, but it offers slightly less protection to the buyer. It guarantees that the seller holds a clear title to the property. It does not offer any protection against future claims.
Deeds and Transferring Property
When you are transferring property, the type of deed you will need depends on the specific circumstances of the transfer and your goals as the buyer or seller.
If you want the most protection as the buyer, a warranty deed may be the best choice.
If you are the seller and want to provide some assurances to the buyer regarding your ownership rights, a special warranty deed may be a good option.
How to Prepare Property Deeds
The first thing to do when you’re preparing a property deed is to figure out what type of deed you’ll need. You will then need to find the necessary forms and fill them out.
Once you’ve signed the deed, you’ll need to send the deed to the country recorder’s office. Once you are ready to prepare a deed, make sure to hire the right estate attorney.
Get Deed Preparation Help Today
Before you get started with deed preparation, it is important to familiarize yourself with the different types of deeds. Since deed preparation can be a challenging process, it is a good idea to hire an attorney to help you out.
Are you ready to hire an attorney in Pennsylvania? If so, we can help you. Don’t hesitate to contact us once you are ready to get started.