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Tips for Home Buyers: What is a Deed?
Tips for Home Buyers: What is a Deed?As real estate professionals, we get asked many questions throughout the course of our day.  One of the those frequently asked questions that my Houston County GA buyers often ask is, "What is a Deed?"
A deed is the document used to transfer property ownership from the seller (grantor) to the buyer (grantee). A signature by the seller validates the deed and is their declaration they have authority to sell and are giving up their rights to the property.
In Georgia, the transfer of deed occurs at closing. Within 30 days after closing, the buyer should receive a copy of the warranty deed. The warranty deed is a guarantee made by the seller that the title is clear and they have authority to sell the property. Keep your copy of the warranty deed in a safe place.
As a failsafe in-case the buyer defaults on the loan, the bank holds a security deed that transfers title to the lender until the note is fully paid. Once paid-in-full, the bank releases the title to the homeowner.
Below are typical deeds used in Georgia real estate. They must be in writing, list both the grantor and grantee, identify the legal ... more

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