Deed

A written instrument transferring title of real property from one entity to another. Types of Deeds:

• Bargain and Sale Deed – Used in the conveyance of land title, when the purchase is made for valuable consideration (not cash).
• Contract for Sale Deed – An agreement by a seller to deliver conveyance of title upon completion of certain conditions (payments). Often such contracts are resold.
• Limited Warranty Deed – Used in place of a Warranty Deed when a purchase was indeed subject to a particular claim.
• Quitclaim Deed – Transfers any title, interest, or claim a grantor may have in a property.
• Sheriff’s Deed – (a.k.a. Constable’s Deed) Usually issued at the order of a court judgment by a county law enforcement officer.
• Special Warranty Deed – Used to convey title of land in unique situations. Such as multiple sellers with varying percentages of ownership to multiple buyers with varying percentages of ownership. It is limited to certain persons and/or claims.
• Tax Deed – (a.k.a. Auditor’s Deed) Transfers the title of land taken for delinquent taxes to a purchaser at a public sale.
• Trust Deed – See DEED OF TRUST.
• Warranty Deed – A deed used in many states to convey fee title to real property. Prior to the common use of title insurance, a Warranty Deed expressed a guarantee that title was free from defects.