There are three (3) different types of deeds we can prepare for you using this form. Each is used for a different purpose.
QUIT CLAIM DEED: A quit claim deed is used to correct problems or questions about who owns property (flaws in the title). They can also be used when transferring property between family members or when adding or removing a person from the title. A Quit Claim Deed provides NO GUARANTEE that the Grantor has any ownership interest in the property or that the Grantee is receiving any ownership interest. When a Grantor signs a Quit Claim Deed the Grantor is transferring any ownership interest the Grantor has at the moment they sign the document and nothing else.
WARRANTY DEED: A warranty deed is commonly used in a traditional real estate transaction where the Grantee is buying the property from the Grantor. When a Grantor signs a warranty deed the Grantor is providing a GUARANTEE that the Grantor currently has full ownership of the property and is transferring that ownership to the Grantee. If, for any reason, the Grantor does not have full ownership at the time of signature, the Grantor is guaranteeing that the Grantee will receive full ownership.
LADY BIRD DEED: Also known as an enhanced life estate deed. This type of deed is used as part of the estate planning process to transfer real property to the Grantor's trust immediately upon the death of the Grantor. It allows the Grantor to continue to use, manage, mortgage or transfer the property prior to the Grantor's death, but if the Grantor still owns the property at death, the property will automatically transfer into the trust upon the Grantor's death.
