A deed is a legal document in which the seller and the buyer, transfer ownership of a real estate property from one party to another.
During the real estate transaction, the title company conducts a full search on the tile of the current and previous owners of the property to determine if there are any title-related defects or issues with the previous owner of the property.
This deed will indemnify the seller, also known as the grantor for any breach of title after
the title search, even if the breach occurred unknowingly or at a time before the seller bought the real estate property.
This ensures that the buyer will not be liable for any prior title-related issues or encumbrances. This type of deed will be sent to the buyer, also known as the grantee when the property sale is being closed.
It document contains a legal description of the transferred property and must be signed and certified as per the laws of the state where the property is located, including the legal documents of transfer, that the seller transfers the property to the buyer and provides proof of the amount paid to purchase the property.