Knoxville Tennessee Deed Transfers
Crossland Title can help you with you Knoxville Tennessee Deed Transfer.
What are Deeds?
A deed is what shows that you are the owner of the property and gives a legal description of what property is owned.
While that’s partially true, it’s also not entirely right. There are different types of deeds, which can make quite a difference when you are the owner of the property. Some deeds make certain warranties about the title of the property, while others do not.
It’s also important to know how you’re taking title, which becomes important when you sell the property or if something happens to you.
In this post, we’ll cover three common deed types in Tennessee and some of the common ways to take title.
Here are the 3 most common deeds used to take title in Tennessee.
A warranty deed are one of the most common types of deeds used in Tennessee real estate transactions.
A warranty deed is the preferred method of transfer of ownership of a property as it provides the buyer with the most guarantees. A general warranty deed guarantees the property is free and clear of any liens and that the seller has the authority to sell the property.
A warranty deed provides a buyer with the most protection.
Special Warranty Deed
A special warranty deed is another common way residential properties are transferred in Tennessee. Special warranty deeds are commonly used in the transfer of foreclosures and bank owned properties.
A special warranty deed gives similar guarantees about a property that gives a buyer peace of mind, but the warranties are a bit different. A special warranty guarantees that a seller is able to convey the property and legally sell it. The seller also warrants that during the time they’ve owned the property they’ve done nothing that would create a title defect.
So, a special warranty deed doesn’t provide quite as much peace of mind as that of a warranty deed.
Quit Claim Deed
Finally, quit claim deeds are another common way that properties are conveyed in the State of Tennessee. Quit claim deeds are often used to convey property from one person to another or to add additional people to title. Quit claim deeds are rarely used to convey properties when money exchanges hands.
When a quit claim deed is used to convey a property, there are absolutely not guarantees about the property’s title. This is why quit claim deeds are often among people who know each other. Any liens again a property or the previous owner will convey with the quit claim deed.
Crossland Title would be honored to help coordinate the transfer of your deed. With nearly 40 years of experience, we are long-standing experts in this field. Finally, we look forward to helping you with all of your title search and insurance needs. Also, check out our Facebook for up-to-date information.