Real estate deeds provide legal documentation pertaining to the owner of property. The property could be land or a building structure. The deed specifies the names of previous and current owners along with information about the property.
If the property is sold or being transferred in a will, the deed must be legally transferred from one owner to the next. It is important to meet with qualified attorneys to draft a deed transfer. There are two types of deed transfers:
- Quitclaim deed transfer. A quitclaim deed will transfer or “quit” interest in real property. When an individual is married, the quitclaim is commonly used to transfer property to the spouse.
- Warranty deed transfer. The warranty deed refers to the ownership of the property and will transfer the property with a good title, which means it is free of liens or claims of ownership.