Tips for Home Buyers: What is a Deed?

By
Real Estate Agent with ColdwellBanker SSK Realtors ~ 478.960.8055 anita@cbssk.com
http://actvra.in/B5k

Tips for Home Buyers: What is a Deed?

As real estate professionals, we get asked many questions throughout the course of our day.  One of the those frequently asked questions that my Houston County GA buyers often ask is, "What is a Deed?"

Tips for Home Buyers: What is a Deed?A deed is the document used to transfer property ownership from the seller (grantor) to the buyer (grantee). A signature by the seller validates the deed and is their declaration they have authority to sell and are giving up their rights to the property.

In Georgia, the transfer of deed occurs at closing. Within 30 days after closing, the buyer should receive a copy of the warranty deed. The warranty deed is a guarantee made by the seller that the title is clear and they have authority to sell the property. Keep your copy of the warranty deed in a safe place.

As a failsafe in-case the buyer defaults on the loan, the bank holds a security deed that transfers title to the lender until the note is fully paid. Once paid-in-full, the bank releases the title to the homeowner.

Below are typical deeds used in Georgia real estate. They must be in writing, list both the grantor and grantee, identify the legal property description, indicate the title is being transferred, and contain the grantor's signature.

  • General Warranty Deed - Seller "guarantee" they are the owner of the property, have the right to sell the property, and the property is free of liens.
  • Special Warranty Deed - Limits seller liability to only what the deed is specifically granted for, such as the seller stating they are selling property they have legal titleship to sell.
  • Quit Claim Deed - Typically used in divorce settlements where a property was jointly owned and one party gives up any interest in the property. Other uses include transfer of ownership between family members and when the property is placed in a living trust.
  • Fiduciary Deed - A deed executed by a trustee or guardian because of an incapication of another adult or when the owner dies and transfer of assets or liquidation must occur.

Before signing any real estate documentation you do not understand, contact a real estate attorney to ensure you know your obligations and the ramifications involved.

As always, Houston County real estate information is brought to you as a courtesy by Anita Clark, your Warner Robins Real Estate Consultant.

 

Posted by

Anita Clark Realtor

Anita Clark | Cell: (478) 960-8055 | E-Mail

Homes for Sale in Warner Robins | Warner Robins Real Estate Blog

Subdivisions in Warner Robins GA | Communities in Houston County

 

Youtube - Anita Clark Facebook - Anita Clark Twitter - Anita Clark Pinterest - Anita Clark LinkedIn - Anita Clark  RSS Feed - Anita Clark

 

Call Anita Clark, She is a HouseSOLD Name!

 

All original text, video, and photo content is the exclusive property of Anita Clark Realtor and may not be used without expressed written permission. The information contained herein has been obtained through sources deemed reliable but cannot be guaranteed for its accuracy. We recommend to all buyers and sellers that any information of special interest be obtained through independent verification. All measurements are approximate.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the cloud to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Real Estate Best Practices
Location:
Georgia Houston County Warner Robins
Groups:
Dedicated Bloggers
Georgia Real Estate
ActiveRain Contests
Realtors®
Most Active ActiveRain Blogging Agents
Tags:
deeds used in georgia real estate
warner robins real estate consultant
anita clark realtor
what is a deed
tips for home buyers

Comments 12 New Comment

Rainmaker
1,257,379
Anita Clark
Realtor - Homes for Sale in Warner Robins GA
ColdwellBanker SSK Realtors ~ 478.960.8055

Nice play on words Joe.

Laura...knowing what they mean can help save a bunch of money and frustration if there are problems.

May 13, 2012 05:01 PM
Anonymous #9
Anonymous
Anonymous

Anita, all of this wonderful information you've provided is just what buyers need to know (and what sellers should already know!) - very valuable info!

May 13, 2012 05:31 PM
Rainmaker
1,257,379
Anita Clark
Realtor - Homes for Sale in Warner Robins GA
ColdwellBanker SSK Realtors ~ 478.960.8055

Karen: It is surprising how many buyers do not understand what a deed is.

May 13, 2012 05:44 PM
Rainmaker
477,266
Mark Loewenberg
PA 561-214-0370
Keller Williams of the Palm Beaches

great way to explain it to the buyers out there, very useful too! thank you,

May 13, 2012 06:41 PM
Rainmaker
1,257,379
Anita Clark
Realtor - Homes for Sale in Warner Robins GA
ColdwellBanker SSK Realtors ~ 478.960.8055

Thanks Mark.  Simple is always my favorite approach.

May 13, 2012 07:27 PM
Rainmaker
1,257,379

Anita Clark

Realtor - Homes for Sale in Warner Robins GA
Need Warner Robins Real Estate Help?
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the foot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

Warner Robins Georgia 31088




Anita Clark on Pinterest