Tuesday, 1 December 2015
In Tennessee, there are different types of Deeds. Before I get into that, though, let me define what I mean by "Deed." It can become confusing because term "Deed" is often used to refer to a Deed of Trust. A Deed of Trust is the document that is recorded in Tennessee securing the property as collateral for a Lender. In short, that is not the document that I am talking about. I am talking about a Deed that someone signs conveying his or her interest in real estate to another person or entity. In our office, this is most frequently a Warranty Deed. However, what many people do not realize is that the Warranty Deed is actually a specific type of Deed. The type of Deed that is used defines the guarantees that the Grantor (often, the Seller) is making to the Grantee (often, the Buyer). This may make more sense if I define the types of Deeds.
It should be noted that the type of Deed does not affect the way the property is titled. For more information on the way property can be titled, see my previous blog, "Options for Titling Real Estate in Tennessee." However, it is important to know the type of Deed that is being used so that you, as the Buyer or Seller, know exactly what you are guaranteeing or receiving. Our firm would be glad to help guide you to the correct Deed that should be used in your situation.
If you are unsure how your property is titled or want to see if there are better options for you, contact us and we would be glad to find the best option for your situation.
To learn more about how we can assist you with your Real Estate Law Services your can:
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Posted on 12/01/2015 10:32 AM by Erika Piland
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