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Deeds & Titles

The type of title you use can have a beneficial or a detrimental effect depending on your circumstances and needs.

 

Common Deeds & Titles

Statutory Warranty Deed

This is the same as a General Warranty Deed but because of the importance of a Warranty Deed, the Florida legislature made it into a Statutory form in Florida. The Grantor (Seller) warrants that they have good and marketable title to the property by the “warranties” contained in the Deed language. Other forms besides the legislature’s may be acceptable but need to be reviewed internally. 

Special Warranty Deed

Similar to a Statutory or general Warranty Deed except that it only warrants title from the time the Grantor (Seller) took title to the property.  Often used by developers.

Quit Claim Deed

The effect of this deed is to give “all of the right, title and interest” of the Grantor (Seller) to the Grantee (Buyer) (there are no warranties). In other words, whatever interest a person has in the property they transfer and convey through the Quit Claim Deed.

Trustee's Deed

The Grantor (Seller) cannot simply be identified as “trustee” but it must instead state “_____________as trustee of the _________ trust u/a/d ______.” To be on the safe side include “individually, (marital status or non-homestead) and “as…” (deed can come from individual trustee, co-trustees, or successor trustees). The notary must state the different capacities of Grantor.

Personal Representative's Deed

Although a lot of offices have a special “Personal Representative Deed” form, we use the Statutory Warranty Deed form and deed out as “John Smith, individually, a single man or joined by wife if married or appropriate non-homestead representative, and as Personal Representative of the Estate of Mary Smith to _________”. (All capacities in which they are deeding out must be in the Notary).

Personal Representative's Distributive Deed

When property is held within an Estate and is transferred to the beneficiaries, it is done through a Personal Representative’s Distributive Deed. The probate attorney will generally do this.

Guardian's Deed

A Guardian Deed is granted when the original owner is incapable of making decisions regarding their personal affairs or property, usually the legal guardian of an incapacitated person. 

Life Estate Deed

A traditional Life Estate Deed is an Estate planning tool which places the real property into the name of the owner for life (although sometimes the owner puts it into a third party’s name for life and the remainder to the owner) and the remainder to the people chosen by the owner which is often their children. A Life Estate CANNOT have the remaindermen as joint tenants with the right of survivorship. Under this traditional Life Estate Deed, the Life Estate holder (which is often the owner) cannot sell or mortgage the property without joinder by the remainder persons.

Enhanced Life Estate Deed

This Deed is being used more frequently as the Estate planning tool of preference. The difference between the traditional Life Estate Deed is the fact that the remainder persons (often the Grantor/Owner’s children or grandchildren) do not have any say in the Life Estate holder selling or mortgaging the property. The benefit here is that someone can put their property into a Life Estate and choose the remainder persons upon their death but the remainder persons have no control over the property during the Life Estate holder’s life and the Life Estate holder can sell or mortgage without their permission. Again, the remainder persons cannot hold the title as joint tenants with right of survivorship.

What is a Title Search and Examination?

A title search is conducted on all documents filed among the official public records for the county in which the property lies. Records searched include deeds, mortgages, paving assessment, liens, wills, divorce settlements and other documents affecting title to the property. A title examination is a review of all the  documents found during the title search that affect the title to the property. 

Why is a Title Search Important? 

Properties may have hidden risks in the deed to the property. A title search by an experienced title company can find deed restrictions that may ultimately impact your decision to move forward with the transaction. Be sure to order a title search as soon as you’re interested in a property.

Why do I Need Title Insurance? 

For a one-time low cost your property is protected for as long as you are the owner. For many home buyers, purchasing an owner’s title insurance policy is a matter of being safe rather than sorry.

How Much Does Title Insurance Cost?

Action Title Company provides title insurance quotes at no cost to you for your real property purchases.

Get your free quote

Still have questions?

Contact our team and receive professional guidance to protect your investment.