What's going on guys? French here with REI club.com, your link to creative real estate. Today, I got a quick video for you covering the four basic types of deeds and how they differ from each other. So, what are deeds? - Deeds are legal documentation that transfer the rights of property, in this case, real estate, from one person to another. Plain and simple, you cannot transfer real estate without it being in writing, and in most cases, it's in the form of a deed. - Now, let's go and talk about the four types that you need to be familiar with. - The first deed we want to talk about is the general warranty deed. It's the most common one you'll all be dealing with in residential real estate. It clearly promises the buyer that the transfer is as good as good standing and good title to the property, meaning it's free of liens and encumbrances, which is important to investors. It also guarantees that the seller has a legal right to actually sell the property. - Okay, again, this is a general warranty deed. - So, the next deed we want to talk about is a specialty warranty deed. Now, this is different from a general warranty deed in that it does not cover the entire history of the property, only the history of the current seller's ownership. - What it does is it provides assurance that the property seller does, in fact, own the property in question and has not created any type of title issues that you're going to have to deal with during their time of ownership. However, it does not guarantee you that the prior owners to them own the property free and clear. So, that's the main difference. These are usually used...
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Interspousal Transfer Grant Deed California divorce Form: What You Should Know
This is a bona fide gift and the decedent died before any provision was made for intestate succession, R & T 15111‡†. •†- This is a bona fide gift and the decedent was a person for any purposes within the meaning of California Probate Law, R & T 11011‡‡. this is a bona fide gift and the granter received no cash, property, or compensation in return for property, R & T 12011‡‡‡. —This is a bona fide gift, the granter never had any interest in the property, and the decedent would not have been entitled to the benefit of any gift tax exemption, R & T 13111‡‡‡. ‘‡ If the beneficiary had no interest in the property, R & T 13111‡‡‡. ‖‡ If the beneficiary had an interest in the property, the beneficiary and the decedent had no family relationship and the benefit of the gift tax exemption would have remained in the decedent's estate, R & T 10111‡‡‡. —This is a bona fide gift, the donor never owned the property or any interest therein, and the beneficiary received a transfer price based on fair market valuation, R & T 13111‡‡‡. ‖†- This is a bona fide gift, the donor received no cash or property in return for the property, and the decedent would not have been entitled to the benefit of gift tax exemption under California Probate Law, R & T 11111‡‡‡. ‖‡- This is a bona fide gift and the donor received no interest in the property, the decedent would not have been entitled to the benefits of estate tax exemption, R & T 11111‡‡‡. ‗‡- This is a gift between spouses, the donor was a decedent who did not leave any descendants. The decedent had all the usual forms of inheritance, R & T 7111‡‡‡.
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