Deed grant is used in some states and jurisdictions for the sale or transfer of other tangible property from one person or entity to another person or entity. Any party who transfers interest in the property, or "giver", is required to sign it. Then the document must be acknowledged in the presence of a notarized (notarized) or other official authorized by law to administer the oath. Notary public or other officials then place the seal and mark the appropriate documents to indicate that it was signed correctly and acknowledged. The reason the document should be notarized is to provide proof that the true giver's true signature because the transaction document is sometimes falsified.
The grantee makes two guarantees to the grantee: 1) The giver/seller guarantees that the property has not been sold to others, and 2) That the house is not under a lien or restriction that has not been disclosed to the buyer/recipient of the grant. This guarantees the grantee no legal claim against the property by a third party, and no tax payable on the property will limit its sale.
Some jurisdictions use a guarantee deed to transfer the real property, not the deed of grant. The guarantee certificate adds additional assurance that the grantor will defend the title against any third party claim. The deed of mortgage is also sometimes used, although it is most often used to release any interest in the property rather than selling the property it owns.
The types of deeds now used to transfer real property are relatively modern inventions. Previously, the giver moves the property to a buyer, called a "grantee", by taking some recognized action, such as taking some land from the property to be transferred, handing it to the buyer, and reading legally prescribed words that recognize the transfer in the presence witness. This is called livery of seisin. Over time, and especially with the development of modern technology that allows government offices to store accurate copies of documents, the previously performed physical deed for transferring property is replaced by a paper deed, also known as a deed poll, which is now commonly used.
Video Grant deed
See also
- Deed
Source of the article : Wikipedia
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