Intermediate terms

Essential Real Estate Deeds

This curated collection includes key terms that might be helpful when exploring the spectrum of real estate deeds. It clarifies the different types of deeds, from those offering strong buyer protections to those with limited or specific purposes. These terms were selected based on common questions and areas where investors often need clarity.

Learning Path

Special Warranty Deed

A legal document transferring property ownership with a limited warranty, where the grantor guarantees the title only against defects that arose during their period of ownership.

Intermediate18-20 min

Grantor

A grantor is the legal owner of a property who transfers ownership to another party, known as the grantee, typically through a deed in a real estate transaction.

Beginner13-14 min

Title Search

A title search is a comprehensive examination of public records to confirm a property's legal ownership and identify any claims, liens, or encumbrances against it, ensuring a clear title for real estate transactions.

Intermediate11-12 min

Fiduciary Deed

A fiduciary deed is a legal instrument used by a representative (fiduciary) to transfer property, typically offering limited warranties and requiring enhanced buyer due diligence.

Intermediate12-15 min

Covenant

A covenant in real estate is a formal, legally binding promise or agreement between parties, often recorded with the property deed, that dictates how a property can or cannot be used, or obligates parties to specific actions.

Intermediate15-16 min

Mortgage

A mortgage is a loan obtained from a lender to purchase real estate, where the property itself serves as collateral for the debt. Borrowers make regular payments, including principal and interest, over a set period until the loan is fully repaid.

Beginner15-18 min

Clear Title

A clear title signifies undisputed legal ownership of a property, free from any liens, claims, or other legal encumbrances, ensuring the seller has the full right to transfer ownership to a buyer.

Beginner15-18 min

Title Insurance

Title insurance protects real estate owners and lenders against financial loss from defects in a property's title, ensuring clear ownership and safeguarding against past claims.

Intermediate13-14 min

Grantee

A grantee is the individual or entity who receives ownership of real property through a legal document called a deed, becoming the new legal owner.

Beginner14-15 min

Lien

A lien is a legal claim or right against a property, granted to a creditor, which serves as security for a debt or obligation until it is satisfied.

Intermediate18-20 min

Grant Deed

A legal document used to transfer real property ownership, implicitly guaranteeing the grantor has not previously conveyed the property and that it is free from undisclosed encumbrances created by the grantor.

Intermediate13 min

Deed Recording

Deed recording is the official process of filing a legal document, such as a deed, with the county recorder's office to provide public notice of property ownership transfer and establish legal priority.

Intermediate13-14 min

Chain of Title

A chronological record of ownership transfers for a specific property, detailing all legal documents that have affected its title from its origin to the present day.

Intermediate14-15 min

Quitclaim Deed

A legal document used to transfer an interest in real property from one party to another without providing any warranties or guarantees regarding the title's validity or clarity.

Intermediate13-14 min

Warranty Deed

A legal document that transfers property ownership with the highest level of guarantee, where the grantor warrants clear title against all defects, past and present.

Intermediate11-12 min

Property Title

Property title is the legal right of ownership to a piece of real estate, granting the owner the right to possess, use, and transfer the property. It is distinct from a deed, which is the physical document used to transfer title.

Beginner18-20 min

Real Estate Transaction

A real estate transaction is the comprehensive process of buying, selling, or transferring ownership of real property, involving multiple legal, financial, and administrative steps from initial agreement to final closing.

Intermediate15-18 min

Warranty

A real estate warranty is a guarantee that a property or its components will meet certain quality standards for a specified period, protecting investors from unexpected repair or replacement costs.

Intermediate13 min

Sheriff's Deed

A Sheriff's Deed is a legal document that transfers ownership of real property after a court-ordered public sale, typically due to foreclosure or judgment enforcement, offering no title warranties to the buyer.

Intermediate13 min

Title

Title in real estate refers to the legal right of ownership to a property, representing a bundle of rights that an owner possesses over their land and any structures on it.

Beginner13-14 min

Conveyance

Conveyance is the legal act of transferring property ownership from one party to another, typically through a deed, ensuring the new owner holds official rights to the property.

Beginner14-15 min

Encumbrance

A claim or liability against a real estate property that affects its title and may diminish its value or restrict its use, but does not prevent its transfer.

Intermediate11-12 min

Deed

A deed is a legal document that formally transfers ownership of real property from one party (grantor) to another (grantee), serving as tangible evidence of title transfer.

Intermediate14-15 min