When you have to convey to a purchaser of a property he is getting clear title to a piece of real estate, the instrument to use is a warranty deed, that will be called a grant deed in California. This legal document ensures to the owner of the house the property doesn’t have any claims, such as liens or ownership interests, made by lenders and others. The deed receives its name because it provides protection for the purchaser, but a warranty deed has to be transferred in appropriate fashion before it could be used. The move is a procedure.
Pay off all of mortgages, deeds of trust and home equity lines of credit attached to the property. You can’t establish clear name until those pursuits are solved.
Check with a realtor, title officer or a private attorney to guarantee that the name is clean. You can’t move a warranty deed if the necessary conditions do not exist.
Determine the exact language of the deed. Warranty deed terminology can vary. You may choose to include and exclude situations. For instance, the deed could include or exclude a request that there are no city fines pending on the house.
Obtain a warranty deed form. Most lawyers and realtors can provide this document. You are also able to publish a warranty deed form through a few legal websites. Make certain that the form provides the terminology that you need for your individual situation.
Purchase title insurance. If the claims mentioned in the warranty deed prove untrue, you could be responsible, and the purchaser could be entitled to compensation. By buying title insurance, you protect yourself when disputes about ownership or liens harvest up following the transfer.
Obtain a copy of the legal description of the house in the county recorder’s office and attach it to the deed.
Signal the deed as the grantor. In certain countries, you have to sign up in the presence of a witness or notary public. Check with your county recorder’s office to see if this is required. It’s not required in California.
Write in the grantee’s title. The grantee is the person who will eventually become the new owner of the house. In certain states, the grantee should sign the deed also. Check with the county recorder’s office to see if this is essential. In California, it isn’t vital.
Have the deed notarized by a notary public. You have to produce photo identification to demonstrate that you are the person named on the deed because the grantor. Most notaries charge $5 for this service.
Provide the new owner with a copy of the deed.