Basic Components of a Deed
A deed typically includes:
- A description of the real estate being transferred.
- The names of the parties involved in the transaction.
- The signature of the person transferring ownership.
Common Types of Deed Transfers
- Grant Deed: This deed transfers ownership and carries certain assurances—that the title hasn’t already been transferred or encumbered (except as noted in the deed).
- Interspousal Transfer Deed: Used to transfer property ownership between spouses, either to add a spouse to the title or remove one (for example, in the case of divorce). This deed also includes provisions to avoid transfer tax and prevent the reassessment of property taxes.
- Quitclaim Deed: Transfers whatever ownership interest a person has in a property, but doesn’t guarantee the extent of their interest. Title insurers generally don’t favor this type of deed due to its lack of assurances.
- Trust Transfer Deed: This deed is essential when transferring property into a Revocable Living Trust. It allows the property owner to move their real estate into the trust, an important part of funding the trust. This deed can also be used to remove property from the trust if needed, such as for refinancing purposes. Our services include handling the transfer of property into and out of the trust for these types of transactions.
- Revocable Transfer on Death Deed (TOD Deed): Effective as of January 1, 2016, this deed allows property to pass directly to a designated person upon the property owner’s death, avoiding probate. It’s a simpler alternative to setting up a Living Trust, and is particularly useful for leaving property to family members, friends, or loved ones.
Our Flat Fee Includes Filing
Deeds must be filed with the county recorder where the property is located. This, along with notary services at our office, is included in Court Forms Plus’ flat fee.