A deed is generally used to transfer the ownership of real estate property. There are different types of deed and their usage varies with the type of transaction. Mainly three kinds of deeds are mostly preferred in the US. These are given below.
1.Warranty deed:
A Warranty deed is used when someone is selling or buying a property. This deed assures that the title is free from any kind of liens. It confirms that the seller owns the property and has the right to sell it.
2.Grant deed:
This deed is used in some states for selling or buying a real estate property. To use a Grant deed, the property must be clear from any kind of claims.
3.Quitclaim deed:
Such a type of deed is mostly used for transfer of property amongst family members. Here the grantor or the owner quits his interest of the property and transfers it to the grantee. But this deed does not assure you that the title is clear from lien.
All these deeds need to be notarized and recorded in the County Recorder's office asap to make these valid. If you don't do this, the deed will not be considered as a valid one and you may have to face serious problems.
[tags]deed, warranty deed, grant deed, quitclaim deed[/tags]