Affidavit by Grantor That He Or She Has Title and Possession

The grantee is afforded the greatest amount of legal protection by general warranty deeds; more restricted legal protection is provided by special warranty deeds; and the borrower is afforded the least amount of legal protection possible by quitclaim deeds.

Although every contract could be created through the use of a deed, there are only a small number of arrangements that must be formalized through the use of a deed. Mortgages and other charges placed on real estate, land exchanges and rentals, nominations of administrators, and advanced directives are likely the legal instruments that are used in actuality the most frequently. Deeds can also be utilized in exchanges in which one party is not providing any form of evaluation to the other. One example of this type of transaction is a guarantee, in which there is typically no form of due regard to the guarantor in exchange for the guarantor assuring another party’s commitments. The use of a deed has the potential to “fix” the absence of compensation that would, in the absence of the deed, render the transactions (the guarantee) invalid.

There will be a gap in the succession of titles every once in a while. This circumstance arises in the event that the title transaction was erroneous – or illegal. Mistakes made by humans are typically to fault, particularly when filing documentation in a hasty manner. This is a common occurrence throughout real estate bubbles, when the enormous amount of trade simply leaves attorneys and lenders unable to keep up with the demands placed upon them. Misspellings of name of the owner or grantee, erroneous legal definitions of the land, the absence of signatories on the transfer, faults in the timing of the recording of the chain of title papers, and even the lodging of the deed in the incorrect municipality are all examples of frequent mistakes. It is required to make a repair if there is a gap in the sequence of titles. One of the quickest and easiest ways to fix such problems is to have the owner of the property file a claim in court for a “quiet title” lawsuit. A judge may decide that a pause in proceedings is irrelevant and no longer stands, but this decision is contingent on the nature of the break. However, if it is known that the break occurred as a result of a specific person, the owner has the ability to seek out that party and having them sign out a revocable deed, which throws away any ownership rights they may have had. This allows the owner to regain ownership of the property. When it comes to the chain of title and defaults, a lawyer representing a property owner who is in the process of repossession can use any break in the chain of title as a reasonable argument for their client.