What is a Deed?
A deed is a legal document. The purpose of deeds is to convey (transfer) ownership interests in real estate from a current owner(s) to a new owner(s).
A deed is one of two ways real estate ownership can be transferred. The other way of transferring real estate is by dying.
Key Deed Information.
name of the grantor(s)/current owner(s)
name of the grantee(s)/new owner(s)
legal description of the real estate
identification number*
signature of the grantor(s); and
signature of notary and their notarial statement.
*identification numbers are a more recent requirement and not likely found on deeds from the 1980s and back.
Types of Deeds and Ownership Interests.
There are different types of deeds and there are different types of ownership interests deeds create.
Ownership Percentages.
Deeds that transfer property interests to multiple people may state the percentages or fraction interests of the new owners (grantees). This is not a requirement. If the ownership percentages or fractions for each new owner are not stated, it can be concluded that the multiple owners get equal shares. In other words, the 100% should be divided by the number of grantees unless the deed explicitly states the percentages or fractions.
Original Owner.
Who does the deed transfer the property to? Grantee
What happens when the property is transferred to multiple people?
Who is transferring the property in the deed? Grantor