Deeds

A deed is a document that transfers real property from one owner to a new owner. Deeds can transfer all or part of a property to a new owner. Deeds can also add people as additional owners. There are different types of deeds such as a Grant Deed, a Quitclaim Deed, or a Transfer on Death Deed, etc.

Many real property transfers may trigger a reassessment of the value of the property which can cause an increase in property taxes. It is wise to know how property taxes may be affected before a deed is signed and recorded, so there are no surprises down the road.

It is also important that title for the new owner is 100% correct and complete, since this will affect what happens to the property when one owner passes away. Getting this right from the start can save a lot of headaches later.

Finally, deeds usually play a role in estate planning. If you want your property to pass smoothly to your family or loved ones after you’re gone — without going through probate — it’s important to make sure your property is planned for correctly.

Bottom line: deeds seem straightforward, but the details really matter. Getting it right upfront can make all the difference later.