The real estate industry relies heavily on deeds, otherwise known as legal documents crafted to transfer the ownership of an asset (the asset being a property in our case) from one person to another person. For homebuyers, especially first-time homebuyers, there is a lot of real estate jargon to weed through. Terms like preapproved for a mortgage and property deeds can become overwhelming for those unfamiliar with the real estate market. Luckily, hiring the right team of professionals will help you navigate the home buying process as easily and stress-free as possible, hopefully getting a great deal while doing so.
A property deed must be a written document which outlines who has ownership to a property. As such, when a person is ready to purchase the home, a deed must be signed by the buyer and seller in order to transfer that property’s ownership rights to the buyer. The four primary deeds in real estate are:
- General Warranty Deed
- Special Warranty Deed
- Bargain and Sale Deed
- Quitclaim Deed
If these terms seem foreign to you, that’s okay. An attorney is likely the person who will prepare a deed in most residential real estate transactions. As such, it is more critical to find a trustworthy real estate lawyer than to become an expert yourself. Conveying and recording title is a quick, but complex process that can lead to problems in the future if not done correctly. If you are making changes to title, please contact the Law Office of Brenda Murzyn, P.C. and our experienced staff can help you accomplish your goals quickly and accurately.
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