A thorough property search, also known as a title search, may uncover hidden defects in title, such as a granted easement 20 years ago, or an undischarged mortgage that should be resolved before closing. Performing a property search prior to closing on a property is a prudent thing to do. Transfer on Death – This type of deed allows a grantor to transfer title to a property outside of a probate court.
Special Warranty – This type of deed comes with a partial guarantee, namely that the grantor guarantees that there are no title issues while he owned the property. In other words, the grantor transfers to the grantee only the interest they own in the property. Quit Claim – This is used to transfer property with no warranty. General Warranty– This type of deed comes with a guarantee that there are no title “defects” or barriers to the grantee owning the entire property outright. § 103I.235) – If the property has a well then the Well Disclosure Certificate must be attached to the deed (or Filed Electronically). § 507.24) – All deeds are to be signed by the Grantor(s) along with a Notary Public present. § 507.0944) – All deeds must be filed with the County Recorder’s Office in the area of the property’s location.
Laws – Chapter 507 – Recording and Filing Conveyances It can be submitted online or you can use the physical form ( See Sample) which may be obtained at your local Recorder’s office. eCRV – Known as the “ Certificate of Real Estate Value”, is for all properties worth equal or more than $3,000. Checklist – Use to ensure that all documents are completed by the preparer for filing.
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