Deed Preparation

When dealing with transferring title of your home or other real estate holdings from yourself or your trust to another person or entity you’ll need to have a deed prepared. While the “title” to a property is more of an abstract term used when referring to who has the right of ownership, a deed is more literal. A deed is a legal document which transfers title from one party to another; it includes a brief description of the property and it must be signed by a representative of both sides of the transaction in order for it to take effect. Preparing to transfer your real property may seem simple but it is a legal transaction like any other and therefore must comply with certain criteria in order for it to be valid.

Elements of a Deed

Retaining the services of an attorney to draft your deed is the best way to protect the integrity of your important transaction. In order for a deed to be valid it must contain certain elements and must comply with the parameters set out in Nevada’s statute of frauds. This portion of law found in the Nevada Revised Statutes, Chapter 111, requires that certain transfers of property, including those of real property, must be in writing and contain the elements laid out as follows.

First, and perhaps most obviously, a deed must contain the name of the parties, often referred to as the grantor and the grantee. The grantor is the original holder of title to the property while the grantee is the person or entity to which they wish to transfer title. The deed must also contain a legal description of the property being transferred. This involves more than just the address of the property; the legal description of real property includes a specific notation used by the county recorder’s office for identifying the property. Additionally, the deed must contain words of conveyance, such as “I convey” or “I grant.” Requiring such formal and specific language may seem a little over the top, however, it is necessary to ensure that the intent of the deed is clear. Finally, the deed must be signed by both the grantor and the grantee. While this step is one that only you can do, you’ll certainly want an attorney involved to ensure that your deed does not someday run afoul of the State’s statute of frauds.

General versus Special Warranty
or Quitclaim Deeds

Deeds come in many different shapes and forms. A general warranty deed means that the person selling or transferring the property agrees that they will help defend against the claims of all persons who attempt to challenge the title. Such a deed is most desirable for a buyer. A seller, however, prefers to give a special warranty deed or a quitclaim deed. A special warranty deed also means that the seller will help defend against a challenge to legal title, but only if that person is making a claim from the time that the seller owned the property. Essentially, this limits the scope of what the seller has to do if another party comes forward to claim rightful title to the property. In contrast to the other two, a quitclaim deed specifies that the seller will not help defend against challenges to title at all. Obviously a quitclaim deed benefits the seller most of all. While all these deed types and requirements may be giving you a headache, an attorney well-versed in real estate law can help decipher your specific situation and prepare the deed that you need.

No one wants to take a risk when it comes to their real property transactions.
Visit our contact page to schedule a consultation with an experienced professional who can draft the right deed for you.