What is a grant deed in Utah?
A Utah Grant Deed is a document that can be used to shift property from the grantor to the grantee. A grant deed in Utah implies that the grantor passes a fee simple title of the estate to the grantee unless otherwise is clearly expressed in the deed (57-1-3).
What is the difference between a deed and a grant deed?
A grant deed is the instrument used to transfer title to an interest in real property from one owner to someone else. A deed of trust is the security instrument given to a lender to secure a loan or other obligation. Bare naked title is deeded to the trustee, who holds the power of sale or the power to re-convey.
What is the main purpose of a grant deed?
A grant deed is a form of such written proof that an individual owns a property that also provides title guarantees to the new owner—i.e., insurance that the property title is free of claims or liens and the new owner has the right to sell or transfer the property to another.
How do I transfer a deed in Utah?
How to Transfer Utah Real Estate
- Locate the Prior Deed to the Property. The prior deed is the best source for important information like the way the owner’s names are worded and the legal description of the property.
- Create the New Deed.
- Sign and Notarize the New Deed.
- File the Deed with the County.
How do I file a quit claim deed in Utah?
Step 1: Download a free Quit Claim Deed form online or pick up one from your local county recorder’s office. Step 2: Completely fill in the names, addresses, and contact information of the seller and the buyer using black ink. Step 3: Include the full legal description of the property.
What is a warranty deed in Utah?
A Utah general warranty deed is a document that allows a seller to convey real property to a buyer and guarantees that the title will be transferred without any defect, liens, or encumbrances.
What is the difference between a mortgage and a deed of trust?
A mortgage involves only two parties: the borrower and the lender. A deed of trust has a borrower, lender and a “trustee.” The trustee is a neutral third party that holds the title to a property until the loan is completely paid off by the borrower.
Is deed of trust same as warranty deed?
Both a warranty deed and deed of trust are used to transfer the title of a property from one person to another. However, the difference between these two contracts is who is protected. As you now know, a deed of trust protects the beneficiary (lender). A warranty deed, on the other hand, protects the property owner.
Which of the following is not really a deed?
Which of the following deeds are not really deeds at all? Trustee’s Deed is given to the buyer of property at a trust deed foreclosure sale, and a Land Patent is used by the government to grant public land to an individual. A Trust Deed is not a deed.
What is a grant in land law?
An easement made by implied grant is one where the rights are implied by law, and not specified in any deed. They usually arise when a landowner sells his or her property. Implied grants are also known as easements of necessity.
What is a quit claim deed Utah?
A Utah quitclaim deed form (sometimes called a quick claim deed or quitclaim deed) allows the current owner (grantor) to transfer property to a new owner (grantee) without making any guarantees about whether the grantor has clear title to the property.
Does Utah have beneficiary deeds?
A Utah TOD deed form works much like a payable-on-death or transfer-on-death designation on a bank account. It allows the property owner to designate one or more beneficiaries to inherit the property at death.