Title is a legal term that means ownership while a deed is a legal document that serves to transfer the title of a piece of property from one party to another. The terms are used most often in the field of real estate, but deeds are also used in other circumstances.Know More
"Title" in real estate refers to the legal concept of ownership. A title may be full or partial, meaning that other parties also have rights to the property. Possessing the title to a property implies several rights, including the right to have access to the property, to use it and to transfer that title to another party in whole or in part.
The deed, as the legal instrument that transfers the title from one party to another and under the Statue of Frauds, must be a written document signed by both parties. The seller is known as the grantor and the buyer as the grantee. In most states, the deed must be registered with a courthouse or assessor's office to be fully binding but non-registration does not invalidate the actual sale. It only produces an irregularity in the sale's documentation, referred to as an "imperfect deed."
Deeds are also used in specialized circumstances, such as a tax deed that is issued when property is sold to pay unpaid taxes, or an executor's deed, issued by the executor of an estate when selling the estate's assets.Learn more about Real Estate
A deed in lieu of foreclosure involves signing two documents, the deed, which contains the information to transfer ownership of the property, and an estoppel affidavit, which contains the terms of the agreement, according to Tucker & Associates PLLC. The process does not always protect the borrower from a deficiency judgment.Full Answer >
A deed is a written document that transfers title of property from one or more grantors to one or more grantees, and a warranty deed is one type. Joint tenancy is a particular way for more than one person to hold title in property, as opposed to tenancy in common.Full Answer >
A gifted property deed is a legal document that gives legal ownership of a piece of property from one person to another. Because it's intended as a gift, no money exchange is involved.Full Answer >
A deed of trust to secure assumption is a document that creates a second lien on a piece of property, explains Legalzoom. The second lien gives a seller the right to take back the property if the loan isn't paid by the buyer.Full Answer >