The seller (grantor) and the buyer (grantee) can be individuals, corporations, or other entities. The appropriate description is accurately detailed in the deed document. The grantor must meet legal requirements, which vary from area to area. The typical requirements are that the person is competent to make the deal. Also, the deed must be signed by the grantor.
There are special circumstances when other real estate deeds are necessary. For instance, if the real estate transaction involves property with unpaid taxes, a tax deed is usually required to clarify and indemnify the conveyance of the title to the buyer.
A special warranty deed is a variation on this type of deed and it only warrants what is specifically written in the deed. It is sometimes called a limited warranty deed and can be compared to a quitclaim deed. It is usually reserved for use by entities wishing to avoid the potential hassle of relying on a general warranty deed. It conveys and specially warrants certain details.
A security deed replaces a mortgage and is used when the owner borrows against the property and the lender requires an interest in the property. The owner keeps using the property but the lender has title to it until the loan is repaid.
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