In the purchase process, you are at the point where you will need to draft a deed transferring ownership of the property to from the seller to you. In most states, this document is prepared by a law office. Therefore, it is essential you know what the components of a deed are and how to prepare one.
For this part of the project, you will be preparing a Warranty Deed, which is the type of deed all purchasers would prefer. It warrants that the seller is giving the purchaser good title to the property. At this point, you will need to decide how the property is going to be titled. This will not be an issue if you are the only buying the property. However, if you are purchasing with someone else, ownership will need to be designated in the deed.
Using the Internet, locate a Warranty Deed for your state. You will use the following information to draft the deed:
- Grantors: Dudley J. and Jayne M. Smith, a married couple
- Grantee(s): you and who you choose
- Property is located in your county and state
- Legal description:
- The parcel of land lying and being in Lot Six (6), Block Ten (10) recorded at Certified Survey Map 9, Page 23, (your county), (your state).
- Parcel Identification Number, if needed: 0004-15976-02.
- In the event you need to know, this is homestead property.
- Date of conveyance: today’s date
- Deed prepared by: Attorney Mary Smith, your city or town, your state
- Notary Public: Jane Havel and she is located in (your county) and her commission expires on May 15, 2015.