Warranty Deeds

• Warranty deeds are classed as either general or specialty deeds. A general warranty deed provides the grantee, the individual purchasing the property, the greatest amount of protection. In a general warranty deed, the grantor -- the seller of the property -- warrants the title against defeats arising before or during the time the grantor owned the land. This means there are no liens, back taxes or other titling issues associated with the property. A specialty warranty deed does not warrant defects on the title. It warrants only the information listed specifically in the deed itself. Specialty warranty deeds are typically used by temporary holders of the property, such as trusts or corporations.
  
  

Quit Claim Deed

• A quit claim deed releases the grantor from their interest in a property. It provides no guarantees or warranties. The grantor is passing on their interest in the property onto the grantee. Quit claim deeds can also be used to add parties name to the deed. For example, if a single person purchases a home in their name only and later gets married, they may add their spouse to the property using a quit claim deed. In this case the deed is releasing the single person and adding the married couple as the interest holders in the property.
  
  

Deeds Associated with Trusts

• There are three deeds that are associated with trusts, depending on the grantor and grantee, including the Deed of Trust, also called Deed in Trust, a reconveyance deed and a trustee's deed. The deed of trust is used to convey title from a trustor to a trustee for the beneficiary. A deed of trust is most commonly used to allow the trustee to obtain mortgage financing. A reconveyance deed is transferring title back to the trustor from the trustee once any loans have been paid off. A trustee's deed conveys title of the property to someone other than the trustor, typically it is transferred to the beneficiary of the trust.
  
  

Other Deeds

• Other common deed types can be placed against the property without the consent of the current owner of the property. Two examples of these deeds are the tax deed and sheriff's deed. A tax deed is used to convey the property, without the consent of the owner, for failure to pay property taxes. Sheriff's deeds are placed against the property when a judgment has been levied against the property by a judge. The property must then be sold to satisfy the judgment. This typically occurs because of defaulting on a mortgage against the property.