Land for Sale? In Deed

land for sale deedWhat is a deed? What type of deed — grant, quitclaim, warranty — should You use?

A deed is the document that transfers ownership of real estate. It contains the names of the old and new owners and a legal description of the property, and is signed by the person transferring the property. You can’t transfer real estate without having something in writing, which is almost always a deed.

Here’s a brief rundown of the most common types of deeds:

A quitclaim deed transfers whatever ownership interest a person has in a property. It makes no guarantees about the extent of the person’s interest. Quitclaim deeds are commonly used by divorcing couples; one spouse signs all his or her rights in the couple’s real estate over to the other. This can be especially useful if it isn’t clear how much of an interest, if any, one spouse has in property that’s held in the other’s name. (However, a quitclaim deed doesn’t relieve the individual transferring ownership from the mortgage, if there is one.)

Quitclaim deeds are also frequently used when there is a “cloud” on title — that is, when a search reveals that a previous owner or some other individual, like the heir of a previous owner, may have some claim to the property. The individual can sign a quitclaim deed to transfer any remaining interest.

A grant deed transfers ownership and implies certain promises — that the title hasn’t already been transferred to someone else or been encumbered, except as set out in the deed.

A warranty deed transfers ownership and explicitly promises the buyer that the transferor has good title to the property, meaning it is free of liens or claims of ownership. The transferor guarantees that he or she will compensate the buyer if that turns out to be wrong. The warranty deed may make other promises as well, to address particular problems with the transaction.

For the complete article go to: http://www.nolo.com/

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Approx $1,100 combined. The combined 2018 tax rate for Rosendale is 4.29%
How much are the annual property taxes?
I can usually work with you on the down payment but not on this parcel. I don't own this one and the owners are looking to cash out.
Hi, Just curious if there’s any chance you could offer a smaller down payment and higher monthly payment? Like 3k or 4K or if yo
There is no prepayment penalty. I sent you a more detailed answer via email. Thanks, Bruce
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