An Alabama general warranty deed is used to transfer real property, or real estate, to another in the State of Alabama. This type of deed provides a broad warranty or guarantee that the property is being conveyed without any encumbrance not already disclosed and that no one else has any claim to the property.
Who benefits the most from a warranty deed?
The buyer
The buyer, or grantee, of a property benefits the most from obtaining a warranty deed. Through the recording of a warranty deed, the seller is providing assurances to the buyer should anything unexpected happen.
What is a warranty deed used for?
A warranty deed is a document sometimes used in real estate, which offers the buyer of property the greatest amount of insurance. It guarantees or warrants that the property is owned by the owner free of any unpaid liens, mortgages, or other obligations against it.
Do deeds have to be recorded in Alabama?
There is no need for the new owners to sign the deed. The deed must be recorded in the Office of the Judge of Probate in the county where the property is located (Alabama Code § 35-4-50 and Alabama Code § 35-4-62).
How do you add someone to a deed in Alabama?
Adding someone to your house deed requires the filing of a legal form known as a quitclaim deed. When executed and notarized, the quitclaim deed legally overrides the current deed to your home. By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership.
Which is more important title or deed?
Which is more important: title or deed? Both the title and the deed are of equal importance because they both have a purpose in the home selling process. For instance, a title search can note only confirm who owns the property, but also lists any liens, loans, or property taxes due.
What is another name for a warranty deed?
A warranty deed, also known as a general warranty deed, is a legal real estate document between the seller (grantor) and the buyer (grantee).
How do you prove ownership of a property?
To officially prove ownership of a property, you will require Official Copies of the register and title plan; these are what people commonly refer to as title deeds because they are the irrefutable proof of ownership of a property.
What is the difference between deed and title?
A deed is the physical legal document whereas title is the name that describes a person’s legal position regarding something. Deeds are official written documents, and in most states are required to be recorded in a courthouse or assessor’s office.
Does the grantee own the property?
To put it simply, a grantee is the person in a transaction who receives something – aka the buyer. In terms of a real estate transaction, the grantee receives ownership of the property after the closing process ends.
Who owns the title deeds to my property?
The title deeds to a property with a mortgage are usually kept by the mortgage lender. They will only be given to you once the mortgage has been paid in full. But, you can request copies of the deeds at any time.
How do I get the deed to my house in Alabama?
If you have decided that you would like to receive a copy of a specific deed, all you need to do is visit the clerk’s office in the appropriate county and request the deed using any or all of the data parameters listed previously, For example, if you have the address for a property whose deed you would like to review,
Does an attorney have to prepare a deed in Alabama?
All legal documents must be drafted by an attorney licensed to practice in the State of Alabama. Parties to a transaction can draft their own documents if they are doing so on behalf of themselves.
Does property automatically go to spouse in Alabama?
In Alabama, if you are married and you die without a will, what your spouse gets depends on whether or not you have living parents or children. If you don’t, then your spouse inherits all of your intestate property.
Can I put my house in my daughter’s name?
As a homeowner, you are permitted to give your property to your children or other family member at any time, even if you live in it.
What happens to a jointly owned property if one owner dies Alabama?
Joint Ownership
Joint tenancy. Property owned in joint tenancy automatically passes to the surviving owners when one owner dies. No probate is necessary. Joint tenancy often works well when couples (married or not) acquire real estate, vehicles, bank accounts, or other valuable property together.
How do I get my deeds when mortgage paid off?
When you pay off your mortgage you might be required to pay the mortgagee (the lender) a final fee to cover administration and the return of your deeds). At this time your deeds will be sent to you for safekeeping. You can either keep them safe or ask your bank or solicitors to hold them for you.
Can you sell a house if someone else is on the deed?
Ted Disabato April 2, 2020. As a homeowner, you can decide to sell your home at any time. However, if you own a property with someone else, you can’t sell that property without consent from the other owner or owners.
What are my rights if my name is not on a deed but married?
Marital Property
If the wife’s name is not on the deed, it doesn’t matter. It’s still marital property because it was bought during the marriage. This makes it marital property and is still split between both parties. The wife is entitled to receive either equal share or equitable share of the house.
Why would someone do a quit claim deed?
Quitclaim deeds are most often for transferring property between family members or to cure a defect on the title, such as a misspelling of a name.
Who is the grantee on a deed?
The Grantee is the buyer, recipient, new owner, or lien holder. When “vs.” appears on legal documents, the Grantor is on the bottom, the Grantee is on the top. Petitioner is the Grantee; Respondent is the Grantor.