Types Of Deeds
Bargain and Sale Deed
A bargain and sale deed is a deed that recites a consideration and conveys all of the grantor's interest in the property to the grantee. This deed usually does not include warranties as to the title of the property conveyed. However, by implication, the grantor asserts that the grantor has possession of, claim to, or interest in the property conveyed.
Cemetery Plot Deed
A cemetery plot deed or certificate conveys a privilege, easement, or license to make internments in the lot purchased, subject to regulations governing the cemetery and to the police power of the state.
A cession deed conveys street rights or other rights of privately owned property to a municipality or county. A cession deed is called a dedication deed.
A correction deed is used to correct a prior erroneous deed. A correction deed is also called a deed of confirmation or a reformation deed.
See Cession Deed above.
Deed in Lieu of Foreclosure
A deed in lieu of foreclosure is given by the owner of mortgaged property to the holder of the mortgage when the mortgage is in default and foreclosure is threatened. This deed is given and accepted as an alternative to foreclosure.
Deed of Assignment
In some states, a deed of assignment is a legal term used to describe a unit lease and is an instrument conveying a unit leasehold interest in a leasehold condominium (as distinguished from a unit deed, which conveys the ownership interest in a unit in a fee simple condominium). It is also known as a deed of conveyance and assignment or a deed of space.
Deed of Confirmation
A deed of confirmation is a written conveyance of an estate in being, by which a voidable estate is made certain and unavoidable; it is a written instrument employed to correct errors of execution in other deeds. See Correction Deed above.
Deed of Indenture
The old common-law indenture was a parchment with two copies of the deed written on it. These two copies, on the same parchment sheet, were separated by a space, in which certain words were written; the parchment being cut in an indented or waving line through these words.
The later practice in England was to prepare an indenture for all deeds executed by both grantor and grantee; the deed poll (polled, or shaven, all smooth edges, rather than one wavy edge) being used when only the grantor signed the deed. In modern practice, the indenture, as well as the deed poll, is written on a single sheet of paper, the indenture not being "indented" as anciently; the difference between the two is that the indenture is signed by both grantor and grantee, whereas the deed poll is signed only by the grantor.
Deed of Partition
A deed of partition is executed and delivered for the purpose of effecting a judicial or nonjudicial partition of real estate. A conveyance between two or more joint tenants, copartners, or tenants in common, by which they divide the property in severalty, each taking a separate and distinct part of the property according to their ownership interest.
Deed of Reconveyance
In some jurisdictions, a deed of reconveyance is an instrument that transfers legal title from the trustee under a deed of trust to the borrower (trustor) after the outstanding indebtedness had been paid in full.
Deed of Release
A deed of release releases property from the lien or encumbrance of a mortgage or deed of trust on payment or performance of its terms and conditions. In modern practice, a deed of release performs the same function as that of a quitclaim deed. It is also used in connection with judgments or other liens.
Deed of Trust
In some jurisdictions, a deed of trust is an instrument used instead of a mortgage.
A deed poll is made and executed by only one person.
Deed to Support
A deed to support is made in consideration of the grantor's future support.
Fiduciary or Representative Deed
A fiduciary or representative is executed by a person in a fiduciary capacity or as a representative of the estate of the grantor.
General Warranty Deed
A general warranty deed or full covenant and warranty deed is a deed in which the grantor fully warrants good and clear title to the premises.
A gift deed is executed and delivered without valuable consideration.
A grant deed is a deed where the covenants are created by statute and are contained in the deed merely by using the word "grant." In the typical grant deed, the grantor warrants that the grantor has not previously conveyed the estate being granted to another, that the grantor has not encumbered the property except as noted in the deed, and that the grantor will convey to the grantee any title to the property they may later acquire.
A mineral deed conveys the rights to subsurface land or profits.
A quitclaim deed conveys whatever interest the grantor has in the property, as distinguished from a grant of the fee or other estate with warranty of title. The grantee takes the title "as is." A quitclaim deed is sometimes called a release deed.
In modern usage, a release deed is now synonymous with a quitclaim deed. In some jurisdictions, a release deed is effectuated in connection with the satisfaction or correlation of a mortgage, deed of trust, or any other kind of lien that affects the property.
A sheriff's deed is given by a sheriff after a court-ordered or execution sale of property.
Special Warranty Deed
A special warranty deed contains a covenant of special warranty rather than a covenant of general warranty. Such a covenant of special warranty is a covenant of warranty contained in a deed which is limited or restricted to certain persons or claims. In its most usual form, a warranty is only against claims held by, through, or under the grantor.
A deed used to convey property which specifies that, as consideration, the buyer will support the grantor for the rest of the grantor's life.
A tax deed is an instrument used to convey legal title to property sold by a governmental taxing authority for nonpayment of taxes.
Trust deed or deed of trust are synonymous and are terms used in two senses. In the first usage, it is a document that creates a trust or by which property is transferred to a trust. In the second usage, it is a mortgage used in some states, and in other states, it denominates a security instrument in situations where a debt has been divided up and sold, as in the case of the sale of bonds for which the security is real property.