A grant deed is a legal document used to transfer ownership of real property from a grantor (seller) to a grantee (buyer) . It is a type of warranty deed that offers more protection to the buyer than a quitclaim deed, but less than a general warranty deed. Here are some key features of a grant deed:
- It must be in writing and include the names of the grantor and grantee, a legal description of the property being transferred, words of conveyance (e.g. "grant, bargain, sell, and convey"), and the grantors signature.
- It guarantees that the grantor has done nothing to prevent the grantee from having a good title to the property.
- It does not safeguard the buyer from debts or liens, and offers no express warranties against encumbrances.
- It states that the property has not been sold to another party.
Grant deeds are often used to transfer real estate in conjunction with tax and foreclosure sales. They are also commonly used when property is transferred in a divorce or as a gift, or in estate situations when all heirs quitclaim their interest to the buyer.
