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.
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.
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.
All you need to know is that any time you make a change in your real estate status, you need a real estate deed of one type or the other for the transaction to be valid. Deeds are needed even if you are not buying or selling property. If you add or delete a name from the title, you need a new deed. However, you cannot just delete a name from a deed without that persons permission. They have to agree to be removed from the deed, sign the deed, and have their signature notarized.
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