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Which type of deed is used by a trustee?

A trustee deedsometimes called a deed of trust or a trust deedis a legal document created when someone purchases real estate in a trust deed state, such as California (check your local laws to see what is required in your state). A trust deed is used in place of a mortgage.

What is the difference between grantor or grantee?

What Are Grantors And Grantees? There are two sides to a transaction. In real estate, a grantee is the recipient of the property, and the grantor is a person that transfers ownership rights of a property to another person.

What is a non-warranty?

Non-Warranty Deeds In a Non-Warranty or Quitclaim Deed, the seller merely is giving the buyer whatever rights, if any, that the seller has in the property and the seller makes no warranties of any nature about the sellers rights in the property.

Which type of deed contains no warranties?

The quitclaim deed, also called a non-warranty deed, offers the grantee the least amount of protection. This type of deed conveys whatever interest the grantor currently has in the propertyif any. No warranties or promises regarding the quality of the title are made.

What does no warranty mean in real estate?

A deed without warranty serves the same purpose as a quitclaim deed. It transfers property from the grantor to the grantee without a warranty of title. But unlike a quitclaim deed, the deed without warranty includes particular language that is required in states that disfavor quitclaim deeds.

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