A deed is a written document, properly signed and delivered, that conveys title to real property. It serves as a legal record of ownership and may include warranties or specific conditions. There are several types of deeds, including general warranty deeds, quitclaim deeds, and special warranty deeds.
A Deed of Release is a document where one who has limited rights to a piece of real estate, such as a mortgagee or lienholder, abandons those rights back to the owner of the property. It often takes the form of a Quitclaim Deed.
A marketable title is defined as a title free from significant defects, ensuring that a court will enforce the title's acceptance by a purchaser. This concept contrasts with a 'cloud on the title,' which indicates a defect or potential issue that could limit marketability.
A quitclaim deed is a legal instrument that transfers the grantor's interest in a property to another party without warranties or guarantees regarding the property's title. It is often used to clear clouds on the title or transfer property between family members.
