A Deed is a formal, legal document that transfers the right of ownership of real property from individuals or an entity to another individual or entity. It is recorded for public record with the County Recorder’s office in your County.
The person transferring ownership is called the “grantor.” The person receiving ownership is called the “grantee.” Title can be and is often taken in more than one person’s name. This means that the property cannot be transferred without all parties’ permission.
Having a good title is very important when you transfer property. If improperly transferred, it leads to a “cloud” or “gap” in the Chain of Title and can cause problems when it is time to sell or refinance the property. It can also cause the property to be reassessed for taxes, increasing your tax rate. Making sure all of the information on the deed is accurate can save money, time and headache down the line.