Transfer Deed

A deed is a written legal tool used to transfer possessions, money, or tangible or intellectual property from one entity to another. Such documents have been used since the medieval times when they were referred to as charters. Today deeds are said to have replaced the feudal English ceremony known as Livery of Seisin. Deed are considered the most formal form of transfer, requiring executing parties to the grantor and grantee as well as witness that serve as signatories. Common types of deeds include conveyances, commissions, licenses, patents, diplomas, and occasionally powers of attorney.

There are many different types of deeds, all of which come with their own set of conditions. The conditions of a warranty deed for example, may vary from jurisdiction to jurisdiction. In general some common conditions may indicate that it is the grantor’s responsibility for replacing or repairing parts of a building if something should go wrong within the first year of transferring the deed. Likewise, the conditions might also state the grantor’s freedom from continuing maintenance on deeded property.

Another use for a deed is as a substitute for a mortgage, this type of deed is referred to as a deed of trust. Deeds of trust do not transfer property directly but instead, transfers the title of land or real estate to title company which holds the land as security for a loan. When the loan is paid off ownership is returned to the borrower. If the loan cannot be repaid, the title company will liquidate the property with a new deed.

There are many more ins and outs to the legalities and conditions of deeds. You can learn more about this by looking at the informative resources throughout TransferDeed.com.