Perhaps the most common type of documents we see when underwriting title insurance are deeds. There are several types of deeds that can be used to transfer property interests. In this article, we are going to talk about the three most common types of deeds that you may run into when dealing with commercial title insurance.
Deeds of Trust
A deed of trust deals with what’s known as “dormant title” to land. Such a deed grants title to a trustee (either a person or a company) who has the power of sale if the borrower defaults.
A quitclaim deed is an instrument used to transfer legal interest in a property from a grantor to a grantee. These deeds convey the grantor’s interest without easements, encumbrances, etc. Quitclaim deeds are often used to release an interest less than “fee” interest.
Grant deeds convey the current title of the grantor, in addition to any title acquired by the grantor in the future. Grant deeds are most commonly used in the state of California, but can also be used in other states.
Title Insurance Services
At Commercial Partners Title Company, we have decades of experience facilitating commercial transactions of all shapes and sizes. We have built up a reputation as experts in commercial title insurance across the country. Our team consists of escrow agents, title closers, underwriters, and more. If you have any questions about deeds, or anything else related to an upcoming commercial transaction, we have the resources needed to guide you in the right direction. Contact us today at our downtown Minneapolis office to learn more about our services and see how we can help you through the specifics of your transaction.