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Deed (Bargain and Sale with Covenants): A deed is writing signed by the owner of real estate, transferring the ownership of that real estate to another. A deed is considered a Bargain and Sale Deed when it states the amount of consideration received by the seller. “With Covenants” refers to a deed that contains “Covenants Against Grantor’s Acts”. This means that the seller of the property makes a specific representation in the deed that they have not done or suffered anything which would encumber the property except what might be specifically stated in the deed.
Deed (Bargain and Sale without Covenants): A deed is writing signed by the owner of real estate, transferring the ownership of that real estate to another. A deed is considered a Bargain and Sale Deed when it states the amount of consideration received by the seller. “Without Covenants” refers to a deed that does not contain “Covenants Against Grantor’s Acts”. This means that the seller may have done or suffered something which would encumber the property, other than those encumbrances stated in the deed.
Deed (Executor’s or Administrator’s): A deed executed by an Executor or Administrator of an estate. Such a deed states that the grantor is acting on behalf of the estate of the individual which owned the real estate while they were alive, sets forth their appointment by the Surrogate of the court administering the estate, and states the nature of the appointment and the authority by which they can sign the deed.
Deed (Quitclaim): This type of deed is not used very often. It is generally used when the grantor is not certain of what rights they may have in the real estate, but is willing to convey whatever rights they may have. Such a deed does not contain any warrantys or covenants to protect the grantee.
Deed (Warranty): Also known as a “Full Warranty Deed”. This type of deed is almost never used. In it, the grantor states that there are no defects in the title to the property and that they will forever defend the purchaser’s title to the property. As a result of the warrantys contained in this type of deed, the seller is forever responsible for all conditions which may effect the title to the property from the beginning of time up through the date of the sale.
Defect in Title: A set of circumstances or a claim by another party which prevents the clear and uncontested ownership of real estate. Some defects in title are common and not considered a problem, such as a mortgage. Other defects are minimal and are of little concern, such as a neighbor’s fence encroaching on your property a few inches. An example of a serious defect in title would include a claim that a prior transfer of ownership of real estate was defective or invalid. If such a claim is proven in court, one can lose their ownership of the real estate.
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