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What does Deed type mean?

A deed is a legal document used to transfer ownership of property from one party to another. There are different types of deeds, and each serves a specific legal purpose depending on the known and unknown history of the property, the existence of a lien, and/or other encumbrance like a mortgage.

What type of deed do I need?

There are three basic kinds of deeds: a general warranty deed, a special warranty deed, and a non-warranty or quitclaim deed. If you are a buyer, you want your deed to get you everything you bargained for. If you are a seller, you do not want to make promises about the property's title that you cannot keep.

What kind of deed do I need?

There are three basic kinds of deeds: a general warranty deed, a special warranty deed, and a non-warranty or quitclaim deed. If you are a buyer, you want your deed to get you everything you bargained for. A general warranty deed is the most common. Most home sales between strangers involve a general warranty deed.

Which type of deed is used in foreclosures?

Bargain and sale deed This type of deed sometimes is used in foreclosure and tax sales. Warranties can be put into the deed to make it similar to the special warranty deed, and in that case, it's referred to as a bargain and sale deed with covenant against granters acts.

What does Deed type WD mean?

A warranty deed is a type of deed where the granter (seller) guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that he or she holds title to a piece of real estate.

Does a warranty deed prove ownership?

A warranty deed is one type of proof of ownership. It shows the name of the owner and gives a brief description of the property. The previous owner or party granting you ownership signs the warranty deed, showing your rights to the property. A quitclaim deed is the other main type of property deed.

What is the best deed?

When you're looking at purchasing a piece of land, there are 5 main types of deeds that you can use: Warranty Deed, Special Warranty Deed, Quitclaim Deed, Bargain and Sale Deed, and a Grant Deed. A Warranty Deed is the best of the best.

What is the best type of deed to get?

When you're looking at purchasing a piece of land, there are 5 main types of deeds that you can use: Warranty Deed, Special Warranty Deed, Quitclaim Deed, Bargain and Sale Deed, and a Grant Deed. A Warranty Deed is the best of the best.

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