Lee R. Schroeder is an Ohio licensed attorney with Schroeder Law LLC in Ottawa. He limits his practice to business, real estate, estate planning and agriculture issues in northwest Ohio. He can be reached at [email protected] or at (419) 523-5523. This article is not intended to serve as legal advice, and specific advice should be sought from the licensed attorney of your choice based upon the specific facts and circumstances that you face.
The three most common types of deeds are warranty deeds, limited warranty deeds and quit claim deeds. Each type of deed in real estate is different in its own way, especially in what it promises from the seller.
If you have ever bought or sold real estate, you may be familiar with the “deed.” A deed is the document that officially transfers ownership of real estate.
Deeds must be signed by the seller and properly notarized. Deeds must describe the subject property with either an official “metes and bounds” description or by reference to a lot in a recorded plat (itself a metes and bounds drawing of more than one property). Additionally, deeds must be recorded in the courthouse. However, if a signed deed is mistakenly not recorded, that unrecorded deed is not enforceable against people who do not “actually know” of the deed.
Read Lee’s full article on deeds in the Lima News here: Legal-Ease: Different deeds, different promises by the seller
Source: LimaOhio.com, Legal-Ease: Different deeds, different promises by the seller, by Lee R. Schroeder, April 11, 2014