A deed is a written instrument that is commonly used to convey the title to real property. Consequently, all real estate professionals must have a clear understanding of the uses and purposes of different types of deeds. This course also illustrates the difference between the concept of title and the concept of a deed.
The first lesson of this course reviews the requirements of a legally enforceable contract. A deed is a legal contract between two parties for land conveyance; therefore, the requirements for a deed to legally convey the title to real property are also reviewed and explained in detail.
The second lesson of this course covers types of deeds and their different uses. Types of deeds for voluntary land conveyance differ in the extent of covenants and warranties on the title that are offered to the grantee. The most common types of deeds for voluntary land conveyance are general warranty deeds, special warranty deeds, bargain and sale deeds, and quitclaim deeds. This lesson also identifies other types of deeds that may be used for special purposes.
All states have distinctive legislation pertaining to title conveyance. As a result, the third lesson of this course outlines relevant state statutes that affect the creation and execution of deeds, including those that differentiate between the unauthorized practice of law and the lawful role of real estate professionals.
The last lesson is a real estate practice lesson in which the student is presented with real world situations that licensees might face in the field. This lesson gives the student an opportunity to employ his or her new knowledge, and to use the material to properly manage ethical predicaments and problematic transactions.
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