There are some of you that many need to make changes in the ownership of your property. If you have owned property in his own name and are now newly married and want to add her wife as a co-owner of the property, you must create a new deed that adds her as a new co-owner of that property. A Release of Claim Deed is normally used to do this. In this case, the title to this property would then be in his and his wife’s names as Community Property with Right of Survivorship. In this case, if either party dies, the property can pass directly to the surviving spouse without a probate court action.
A Deed is a legal document that transfers ownership or an ownership interest in a home, commercial building, or parcel of land to another person, trust, living trust, partnership, limited liability company, corporation, or any other legal entity that may own property under the law of that state. Real Estate is always under the jurisdiction of the
state it is in.
This deed must describe the address of the property and have the legal description that legally describes the property printed or typed on the deed. The party granting the transfer of the deed is referred to as the “Grantor”, and the party receiving the transfer of the deed is referred to as the “Licensee”.
This document lists all the names of the parties that are involved in the transfer of real estate. Once the deed has been signed, the county recorder records it with the county of record and it becomes part of the public record, and any member of the public can see the transfer of the deed by examining the public records.
There are many types of deeds with which real estate is transferred. For example, a warranty deed guarantees that the “Grantor” holds the title, while the quitclaim deed only transfers the interest in the real property held by a “Dealer”. Most married couples typically hold title to real property under community ownership with right of survivorship. Single people can own real estate jointly with the right of survivorship. This means that if one party dies, the other party’s property interest will pass directly to the surviving spouse or partner.
Most deeds are recorded as a transfer of title from a sale by using a title company that searches the public record and makes sure the “Buyer” gets clear title from the “Seller.” This insurance policy assures the lender that a real estate loan is being used to acquire the property that your loan documents will be in first or second position and that there are no deed restrictions, unpaid taxes, easements, bond appraisals or other possible easements or usurpations. on property
