Another type of deed is the general warranty deed, which is similar to a grant deed. There is one major difference and that is, warranty deeds have a third guarantee. The third guarantee is that the title is free of any defects, even if a previous owner caused the defect. Depending on state law, a phrase such as "conveys and warrants" is included. These are considered operative words of conveyance.
A release deed or a deed of reconveyance is held by a trustee under a deed of trust loan and when the loan is repaid, it releases (or conveys) the deed back to the grantor.
If a family member wants to transfer property to another member of the family, a gift deed might be needed. This assures the grantee that the property is his or hers even if no money has exchanged hands.
Deed forms are the essential legal document used to transfer real property. Among the words pertinent to a deed are property, grant, assign, warrant, and convey. Just as professions each have their own language, so do business transactions. Real estate is just another word for property, and it has its own language as well. Buyers and sellers become grantors and grantees. Each property transaction requires a real estate deed document.