Many types of questions crop up during a real estate transaction. Not all relate to the home or lot or date of title transfer or occupancy. All questions need to be answered accurately and some questions need to be referred to lender or title or escrow company.
Recently, the question of type of deed has come up. The deed paid for by the seller transfers title to the new owner. There are six deed types available in Ohio. Sorry I can 't answer the question for other states but I know where to get that information should you need that information.
* General Warranty Deed: most commonly used in a real estate transaction. This deed warrants the seller owns the property, has the right to convey the title free of title defects and shall defend the title should someone else claim ownership.
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* Limited Warranty Deed: used in commercial or relocation transactions. Deed has similar characteristics to general warranty deed except the seller only warrants defects in title that have occurred during the time he/she owned the property.
* Quit Claim Deed: contains no warranties as to possible defects or encumbrances. Conveys whatever ownership interest seller has.
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* Fiduciary Deed: form of deed used by Guardians, Executors, Administrators, and Conservators. Warrants grantor is dully appointed/acting in compliance with relevant statutory authority.
*Survivorship Deed: transfers to "A and B", for their joined lives, remainder to the survivor of them. Upon death of A or B, the remaining party shall become owner without the need for proceedings.
* Transfer on Death Deed: A transfers to A, transfer on death to B. Used as additional tool to help avoid the need for probate.
There are no silly questions when buying or selling real estate. Have a question, check my website for general information or email me with your specific question.