What is a Deed?
A deed is a document that conveys ownership of real property.
There are several types of Statutory Deeds:
- General Warranty Deed
- Limited (Special) Warranty Deed
- Quitclaim Deed
- Certificate of Title
- Guardian Deed
- Committee's Deed
- Personal Representative's Deed etc.
The most common deed used is the, General Warranty Deed. A General Warranty Deed provides the greatest protection to the buyer(s), or grantee(s), in that the seller(s), or grantor(s), agree to protect against any and all existing claims against the property.
Parties to the Deed:
- Grantor or owner of the real estate
- Grantee or person acquiring the real estate
Two (2) important dates of a deed:
- EFFECTIVE Date:
This is the date that the deed is legally delivered to the grantee and becomes effective. Usually stated as "effective and delivered" or "effective this ____ day of __________, 20____.", at the head of the document... leave this date blank. The date that is inserted here must be on or after the date that the last signatory signed.
This is often, reserved for the date the deed is recorded by the county.
***No deed or contract must ever be back dated (i.e. given a date that is earlier than the date it was executed). This is potentially fraudulent.***
- EXECUTED Date:
This date is of most consequence to the deed and to you, the Notary Public. This is the signatory (grantor or grantee), signature date; the date the document is executed. Usually stated on the deed as, "EXECUTED" or "signed, sealed this ____ day of __________, 20____.", fill in this date.
For more information on common real estate documents see the following solutions article:
Real Estate Documents, Explained