Different Types of Deeds in Utah
If you're looking to buy or sell real estate in Utah, it's important to understand the different types of deeds that are allowed in the state. A deed is a legal document that transfers ownership of a property from one party to another, and there are several different types of deeds that can be used depending on the situation.
In Utah, the most common types of deeds are warranty deeds and quitclaim deeds. A warranty deed is a document in which the seller guarantees that they have clear title to the property and the right to sell it, and they will defend the buyer against any claims made against the property. This type of deed provides the buyer with the most protection and is often used in traditional real estate transactions.
A quitclaim deed, on the other hand, is a document in which the seller transfers any interest they may have in the property to the buyer, but makes no guarantees about the validity of the title. This type of deed is often used in situations where the property is being transferred between family members or in other non-traditional transactions.
In addition to warranty and quitclaim deeds, Utah also allows other types of deeds, including special warranty deeds and trustee deeds. A special warranty deed is similar to a warranty deed, but the seller only guarantees that they have clear title to the property for the time that they owned it, not for any previous periods of ownership. This type of deed is often used in commercial real estate transactions.
A trustee deed, also known as a deed of trust, is used in situations where the property is being used as collateral for a loan. In this type of transaction, the borrower transfers ownership of the property to a trustee, who holds the deed until the loan is paid off. Once the loan is paid off, the trustee transfers ownership back to the borrower.
A Title company or Real Estate Attorney can prepare the deeds properly for you and we can help you get them properly signed and notarized saving you the hassles of needing to worry about getting it signed and returned to the right place.
Our deed notary services start at $50 to help you complete all the Deeds you need!
