Types of Deeds

The basic warranties in a general warranty deed are...

- Covenant of seisin, grantor warrants that she owns the property and has the right to convey title (grantee may recover damages up to the full purchase price if the covenant is broken) - Covenant against encumbrances, grantor warrants that the property is free of encumbrances, except for whats specifically stated in the deed, if breached grantee may sue for the cost removing encumbrances - Covenant of quite enjoyment grantee's title will be good against third parties who might bringcourt actions to establish superior title to the prop-erty. - Covenant of further assurance. The grantor promises to obtain and deliver any instrument needed to make the title good. For example, if the grantor's spouse has failed to sign away dower rights, the grantor must deliver a quit- claim deed (discussed later) to clear the title. - Covenant of warranty forever- The grantor promises to compensate the grantee for the loss sustained if the title fails at any time in the future. In Illinois: Illinois law provides that a deed using the words convey and warrant implies and includes all covenants of general warranty, which are as binding on the grantor, her heirs, and personal representatives as if written at length in the deed. These covenants in a general warranty deed are not limited to matters that occurred during the time the grantor owned the property; they extend back to its origins. The grantor defends the title against herself and against all others as predecessors in title.In addition, it is sufficient for a general warranty deed to recite only nominal onsideration.

General Warranty deed

-A general warranty deed provides the greatest protection of any deed. -It is called a general warranty deed because the grantor is legally bound by certain covenants or warranties (promises).

A grantee will want additional assurance that the grantor has the right to offer what the deed conveys. To obtain this protection, grantees commonly seek evidence of title.

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Quitclaim Deed

A quitclaim deed provides the grantee with the least protection of any deed. It carries no covenants or warranties and generally conveys only whatever interest the grantor may have when the deed is delivered. If the grantor has no interest, the grantee will acquire nothing, nor will the grantee acquire any right of warranty claim against the grantor. A quitclaim deed can convey title as effectively as a warranty deed if the grantor has good title when she delivers the deed, but it provides none of the guarantees that a warranty deed does. Through a quitclaim deed, the grantor only "remises, releases, and quitclaims" her interest in the property, if any. A quitclaim deed is the only type of deed that may be used to convey less than a fee simple estate. This is because a quitclaim deed conveys only the grantor's right, title, or interest without giving any kind of guarantee as to the quality or nature of title being conveyed. A quitclaim deed frequently is used to cure a defect, called a cloud on the title. For example, if the name of the grantee is misspelled on a warranty deed filed in the public record, a quitclaim deed with the correct spelling may be executed to the grantee to perfect the title. In Illinois: A quitclaim deed also is used when a grantor allegedly inherits property but is not certain that the decedent's title was valid. A warranty deed in such an instance could carry with it obligations of warranty, while a quitclaim deed would convey only the grantor's interest. A quitclaim deed uses the words "convey and quit claim," and conveys in fee all the grantor's existing legal and equitable rights held at the time of delivery.

Special Warranty Deed

A special warranty deed contains the following two basic warranties: ■Warranty that the grantor received title ■Warranty that the property was not encumbered during the time the grantor held title, except as otherwise noted in the deed

Trustee's Deed

Conveyance from trustee to third party

Deed in Trust

Conveyance from trustor to trustee

Bargain and Sale Deed

The words in the granting clause are "grant, bargain, and sell." A grant, bargain,and sale deed conveys a simple title with the following covenants: (1) the grantor holds a fee simple estate, (2) the title is free from encumbrances made by the grantor except those listed in the deed, and (3) the grantor warrants quiet enjoyment.

Deed Executed Pursuant to Court Order

title to property that is transferred by court order or by will.

The most common deed forms are...

■general warranty deed, ■special warranty deed, ■bargain and sale deed, ■quitclaim deed, ■deed in trust, ■trustee's deed, and ■deed executed pursuant to a court order.