Virginia Real Estate Deeds Attorneys
Purchasing or selling real estate can be both exciting and stressful. Whether you are in the market as a first-time homebuyer or if you are a business owner purchasing a commercial property, it is important to have the right lawyer by your side. At Randall, Page & Bruch, P.C., our Virginia real estate attorneys can ensure that the transaction is smooth from start to finish.
If you are purchasing or selling land, a home or commercial property, it is important to understand the laws regarding deeds and the common problems that face buyers and sellers. Our attorneys can put your mind at ease and help you navigate through any deed issues that may arise. You can contact us by clicking here or calling 757-742-6115.
What Is The Difference Between A Deed And A Title?
A common misconception in real estate is that deeds and titles are the same. In fact, in legal terms, they are very different. Firstly, a deed is an official written document that declares a person or business’s legal ownership of that property. A title, on the other hand, refers to the concept of the owner’s rights.
For example, suppose you own the pen on your desk. A pen is a physical object that you can hold and write with; however, you cannot hold the pen’s title in your hands. Nevertheless, you can hold the pen’s deed in your hands.
In terms of real estate, after you purchase a property, the deed must be in your physical possession.
What Are The Types Of Real Estate Deeds?
There are three main types of deeds:
- General warranty deed: This ensures that the seller has the full title and is the sole property owner, allowing them the rights to sell. This protects both buyer and seller in that it promises that the seller has no knowledge of any property issues.
- Special warranty deed: This deed is similar to a general warranty deed. The special warranty deed only guarantees the title for the time the seller owned the real estate. This deed is commonly used in commercial property transactions but rarely for home purchases.
- Quitclaim deed: This is usually used if a piece of real estate is being transferred without any money changing hands. The seller or business can transfer property rights promptly, often giving to the misuse of the name, “quick claim deed.” Quitclaim deeds are often used when parents want to transfer ownership of their property to their children or spouses who would like to transfer real estate between them. Sometimes, individuals wish to transfer property ownership to a trust or an LLC. If you have legally changed your name, you can use a quitclaim deed to transfer ownership under your new name.
Why You Need A Virginia Real Estate Deeds Attorney
At Randall, Page & Bruch, P.C., our Virginia real estate deeds lawyers can ensure that your deeds give specific descriptions of the properties. It is crucial that the description be accurate and free of ordinary issues, like misspelled names or address mistakes. If anyone were to challenge your right to ownership, your deed must be free and clear of any errors. Our real estate deeds attorneys have the experience and skill you need to ensure that your deeds are drafted, examined and carefully written. When you need a real estate deeds attorney in Virginia, contact us by clicking here or calling 757-742-6115.