A deed is one of the important documents you will encounter when acquiring real estate or any landed property. However, many real estate buyers in Rock Hill, SC, are unaware of what a deed is or why it is important in a real estate transaction.
This article by Donovan Stelzner, a legal professional with Stelzner Law Firm, Rock Hill, explains the concepts of a deed and the different types of deeds.
What is a Deed?
In simple terms, a property deed is a legal document that shows the transfer of ownership of a real estate property from the seller to the buyer. A deed is to be signed by both parties of the transaction or their representatives, sealed and delivered to the buyer at the close of a real estate transaction.
What Makes a Deed Legal?
In his article, Donovan Steltzner shares the requirements a deed must fulfill to be considered legal and they are:
- It must contain a written agreement between the seller and buyer or their representative.
- The seller or the person transfering the property must have the capaicty to do so and the buyer or the person receieving the property must be legally capable to accept it.
- The deed must contain a description of both parties. Only parties that are included in the deed have legal rights to the property.
- It must describe the property.
- It must contain a operative words of conveyance.
What Are the Types of Deed?
Generally, there are several types of deals such as general warranty deeds, special warranty deeds, quitclaim and special purpose deeds. However, all of these deals can be classified under two broad types: official deeds and private deeds.
- Official Deeds: These are deeds that are executed as a part of a court ruling.
- Private Deeds: These are deeds between private individuals or business entities.
About Steltzner Law Firm
If you need help creating a deed you should seek legal assistance from experienced attorneys or firms, like Steltzner Law Firm.
Steltzer is a law firm with seasoned and experienced attorneys who have in- depth knowledge of real estate closing. For over a decade, the Steltzner Law Firm has been providing transactional legal services and representations to individuals, business corporations, partnerships and investors in North Carolina and South Carolina.
To schedule a consultation, contact Steltzner Law Firm at 803-329-3777 or visit their website.
