Grant Deeds are often used to transfer property rights in residential real estate transactions. They usually offer certain title assurances.
In most residential real estate transactions, grant deeds are used to transfer property rights from one party to another for an agreed-upon amount. Because the buyer and seller are usually strangers to one other, the Grant Deed protects both parties by assuring that:
The property is owned by the seller.
The seller has the legal right to sell the property.
It has not yet been sold by the vendor.
The home is debt-free.
A Grant Deed, on the other hand, does not insure the buyer against any potential difficulties with the property. A guarantee Deed or Special Warranty Deed may be appropriate if you need to guarantee against property concerns.
