馃攳
How to Draft a Warranty Deed or Quit Claim Deed - YouTube
Channel: REtipster
[7]
later this is Seth and in this video I'm
[9]
going to take you through the process
[11]
their warranty deed
[13]
in a quitclaim deed and if you know
[15]
anything about deeds those two types of
[17]
deeds are actually very very different
[19]
from each other but in terms of the
[21]
actual information that has to go into
[22]
the documents it's fairly similar across
[25]
both of them creating a deed is actually
[27]
a fairly simple thing just in terms of
[29]
what information you have to put in
[30]
there and how to put it all together so
[33]
if that's something you're trying to do
[34]
I just want to show you the basics of
[36]
how that is done and I'm going to be
[38]
showing you on a couple of blank
[40]
templates that I've used in the past and
[42]
I will say that these deep templates I'm
[44]
going to be showing you do not work in
[45]
all 50 states so don't just take these
[47]
and start using them wherever you want
[49]
to a lot of states have different laws
[51]
and statutes and just details that need
[53]
to be baked into deeds based on whatever
[56]
state your property is located in so
[58]
make sure you're working with the
[59]
correct templates before you do this
[60]
this is really just showing the process
[62]
of how to insert the information once
[64]
you do have the correct deed template to
[67]
work with and I should also mention that
[69]
there are a few states in the u.s. that
[70]
actually require an attorney's
[72]
involvement and the preparation of deeds
[74]
and in closing real estate deals so
[76]
before you even do this you may want to
[78]
just verify that you're not working on a
[80]
property in one of those states where an
[82]
attorney's involvement is required in
[84]
terms of where to get your deed
[86]
templates there's a couple places I've
[87]
worked with in the past one of them is
[89]
US legal and it's basically just a huge
[92]
library of deed templates for every
[94]
state and a bunch of different transfer
[97]
situations with US legal you can just
[99]
pay a one-time fee and then download
[101]
that template and then keep working with
[103]
it again and again and again in that
[105]
same state whenever you have that same
[107]
type of transfer occurring in the future
[108]
so that's kind of a nice thing about
[110]
them is that you just sort of pay once
[112]
and you can keep reusing it when that
[114]
situation applies another site is called
[116]
a Rocket Lawyer and that's one that I've
[117]
been using a lot more recently and
[119]
regular I think makes the process a
[121]
little bit easier where there's just
[123]
like a questionnaire where you answer
[125]
questions and it will insert all that
[127]
information automatically in a state
[129]
specific deed template for you and then
[131]
you can download that and use that in
[133]
the future if you want there are plenty
[135]
of other places you can get deed
[136]
templates as well those are just the two
[138]
that I've had the most experience with
[139]
but even aside from all that in this
[142]
example I'm just going to be showing you
[143]
in the examples that I use and
[145]
my state and again just remember these
[148]
don't work everywhere so I'm not saying
[149]
you should use this exact language just
[151]
make sure you're working with the right
[153]
template before you decide to put
[155]
together your own deed before we get
[157]
into this I just want to explain right
[158]
up front that a deed is a very very very
[162]
important document this is really the
[164]
document that everything else revolves
[166]
around when you're trying to you know
[168]
close a real estate transaction and buy
[170]
or sell a piece of property it's it's
[172]
very important but at the same time it's
[174]
usually not terribly complicated either
[175]
I mean as you'll see here the template
[177]
that I'm using it's just one page that's
[180]
all legal size sheet of paper there's
[181]
really not a ton just some kind of
[183]
boilerplate language on here in this
[185]
little tutorial I'm actually going to be
[186]
showing you how to fill out both a
[188]
warranty deed and a quitclaim deed
[191]
because really a lot of the steps are
[194]
almost identical I mean as far as
[197]
filling out this section here in this
[199]
section in this section I mean it's all
[200]
it's all kind of the same the main
[202]
difference has to do with this stuff
[204]
here and then also the title of the
[206]
document because I'll just explain to
[208]
you in case you don't know both of these
[210]
documents do indeed a transfer real
[212]
estate from one person or entity to
[215]
another person or entity however with a
[218]
warranty deed the seller is actually
[220]
giving the buyer their guarantee that
[223]
the property is free and clear of any
[226]
encumbrances and aleene's any
[228]
significant title issues in essence
[230]
they're saying that if anything goes
[231]
wrong with the titleist property or if
[233]
you find out that the title actually
[235]
wasn't clear even though I said it was
[237]
you can come back and get me for it and
[239]
I mean but most people are comfortable
[241]
doing that because when most people buy
[244]
and sell properties they're getting
[245]
title insurance a quick claim deed is a
[248]
little bit different because when a
[250]
seller signs a quitclaim deed and signs
[252]
it over to the buyer they're not really
[253]
making any guarantees of any kind
[255]
they're just saying everything I own of
[257]
this property if anything is now yours
[261]
so just for example I could put together
[263]
right now
[263]
I quit claim deed for the white house
[266]
and sign that over to and the reason
[267]
that's okay and I can do that is because
[270]
I don't have to guarantee anything to
[272]
anybody even if I own nothing of
[274]
something I can still use a quitclaim
[276]
deed so you can kind of get an
[278]
if for the differences between a
[280]
quitclaim deed and a warranty deed kids
[281]
with a quitclaim deed you really don't
[283]
have to stand behind anything and with a
[285]
warranty deed you do have to stand
[287]
behind it so hopefully that gives us
[289]
some context now just to get started
[291]
we're going to show you how to fill out
[292]
this warranty deed and we're going to
[294]
use a hypothetical buyer and seller and
[297]
yes this is a fictitious scenario that I
[300]
literally made up on the spot our seller
[303]
is going to be Ryan Gosling and our
[305]
buyer is going to be Brad Pitt and
[307]
Ryan's going to be son this just on his
[309]
own behalf as if he owns it in his own
[311]
personal name and Brad is going to be
[313]
buying this in the name of his company
[315]
XYZ properties LLC so we'll just get
[319]
started here we're going to take Ryan's
[321]
name and his marital status and we're
[323]
going to put that right here there we go
[328]
and then of this next part here we're
[330]
going to put his mailing address which
[333]
is fictitious as well put that right
[337]
here now in this document Ryan is called
[342]
the grantor that's because he's the
[343]
seller he's the person who's granting
[345]
the property and conveying it to the
[347]
buyer so we'll go ahead and fill in
[349]
Brad's information now and because Brett
[351]
is buying it in the name of his company
[353]
we don't have to worry about the marital
[355]
status stuff but we do have to talk
[357]
about what state this company is from so
[361]
we're just going to call it a Louisiana
[364]
limited liability company and then we'll
[369]
put that address in here as well
[379]
and you'll notice that the buyer is
[382]
referred to as the grantee because are
[384]
the ones receiving the property and this
[387]
particular property we're going to use
[390]
this example here and this is an example
[393]
that I pulled from agent pro 24/7 this
[395]
is basically just a boilerplate template
[398]
of what their property profile reports
[400]
look like if you followed me for any
[402]
length of time you've probably heard me
[404]
talk about agent pro 24/7 before the
[406]
reason I use it is because it's really
[408]
inexpensive and very very easy to work
[411]
with basically pretty much any property
[414]
in the United States you can pull up
[416]
these property profile reports on them
[418]
and these things are awesome because
[419]
they just give you all kinds of
[421]
information and details about the
[423]
property you're looking at and really
[424]
all we're concerned about for the
[426]
purposes of creating this deed is
[427]
getting this parcel number in this legal
[431]
description right here right after where
[433]
it says abbreviated description because
[436]
we're going to need that information to
[437]
pull it out of here and paste it right
[441]
here so we'll put the legal description
[443]
there and we will get the parcel number
[445]
and put that right above it you just
[451]
like so and just so you know the legal
[454]
description is probably the most
[456]
important part of this entire document
[457]
because this right here is the literal
[460]
legal description of what is being
[463]
bought and sold as you can see this
[465]
legal description is really really short
[466]
and simple that's because the property
[470]
itself that we're talking about is just
[471]
this tiny little square a lot but
[474]
believe me I've seen legal descriptions
[475]
that are paragraphs long just very very
[478]
complex complicated and just so you know
[480]
if you get this legal description wrong
[482]
it's kind of a big problem because it
[484]
essentially changes the property that
[487]
you're talking about here which is not a
[488]
good thing for this reason I usually
[490]
suggest that you double-check this legal
[492]
description I mean don't just take this
[494]
here as the gospel truth because it's
[497]
just a very very important thing that
[499]
must be correct in any deed so there's a
[502]
couple different ways that you can
[503]
verify this one would be to actually
[506]
open up the title search and I've
[507]
actually got a separate video on title
[509]
search
[509]
if you ever want to see that but really
[511]
all you're looking for in your title
[512]
search is what the actual prior legal
[515]
description was so I mean as you can see
[517]
in this example right here right here is
[519]
the legal description and if you go down
[521]
to the previous deed from years earlier
[523]
here's a legal description again so be
[526]
sure to compare and contrast what you're
[528]
seeing in the past versus what you're
[529]
actually putting in your deed itself and
[532]
if what you're putting in your deed
[533]
doesn't look anything like what you've
[535]
seen in the past then you're probably
[536]
going to want to figure out what's going
[538]
on there
[538]
another way to verify it would be to
[540]
actually go to your county's website and
[542]
try to look up the property in their
[543]
system and see if they've got any kind
[545]
of a legal description legal
[546]
descriptions can actually be very
[547]
confusing to read I mean it took me it
[549]
took me years to figure out what I was
[551]
looking at when I was reading these
[552]
things and I'm actually still learning
[554]
believe it or not if you need help in
[555]
this area as you're getting stared you
[556]
can feel free to talk to either an
[557]
attorney or a title company or anybody
[559]
like that because these people are
[561]
experts at doing this kind of stuff and
[562]
they can definitely help you make sure
[564]
that you're getting this right once
[566]
that's complete oh I'm sorry I actually
[567]
got to fill out this part up here to
[569]
almost forget in this case the city is
[572]
right here city state and zip so we'll
[575]
put that in here city of now the county
[584]
is San Diego and the state is California
[592]
okay so now we've got the city county
[595]
state we've got the parcel number you've
[597]
got the legal description all in there
[599]
the next step is put in the
[600]
consideration amount otherwise known as
[602]
the purchase price and just for kicks
[605]
we're going to say that this is being
[607]
sold for a hundred bucks hundred dollars
[612]
$100.00 and believe it or not I've
[615]
actually bought and sold a lot of
[616]
properties for about that amount it's a
[618]
whole other story you're also going to
[620]
put it here in numerical figures like
[623]
that just as the actual number and then
[626]
receipt it which is hereby acknowledged
[628]
and then this cell here is just kind of
[630]
boilerplate stuff for the date we're
[632]
just going to put this first day of
[635]
we'll just call it July
[639]
2014 and then signed and sealed and this
[643]
is going to be the actual sellers name
[645]
so in this case it's going to be Ryan
[648]
Gosling fix that right there and then
[651]
down here you would actually take this
[652]
part to a notary and that notary would
[655]
actually have to witness Ryan signing
[657]
this and then they would fill out all of
[658]
this stuff for him if the seller ever
[660]
isn't sure where exactly to find a
[662]
notary they can typically find a notary
[665]
at any bank or credit union or title
[667]
company or any place like that so all
[669]
they'd have to do is go there and the
[670]
purpose of a notary just in case you
[672]
didn't know is basically just to act as
[674]
proof that this actual person was the
[677]
actual signer on this document and I
[679]
wasn't somebody who came in and just
[680]
tried to forge the signature so that's
[683]
why that's important and then down here
[684]
at the very bottom you actually have to
[686]
say who prepared the document and then
[689]
who the documents should be sent back to
[690]
after it's recorded at the county ok now
[693]
that's pretty much how you do the entire
[695]
deed we've got all the information
[697]
plugged in there the only notable
[699]
difference that I think you'd probably
[701]
probably want to be aware of as far as
[702]
hi of format this is if for instance we
[704]
were to switch this around and Brad Pitt
[707]
was actually the person selling it and
[709]
Ryan was the person buying it in that
[713]
case Brad would be signing this but he'd
[717]
be signing on behalf of his company and
[719]
when you're doing that this little
[720]
signature block gets formatted a little
[722]
bit differently and let me show you
[724]
exactly how that would look it would
[727]
look like this just like that and then
[732]
we're going to put by Brad Pitt its
[740]
member just like that and then obviously
[743]
all this stuff would be switched
[744]
backwards basically so that XYZ
[747]
properties is listed first and then Ryan
[749]
Gosling is listed as the buyer that kind
[751]
of thing but yeah that's that's pretty
[753]
much it to fill out this quitclaim deed
[755]
it's honestly almost the exact same
[758]
steps it's just that it includes a
[759]
little bit less information and it's
[762]
called a quitclaim deed not a warranty
[763]
deed so there's no warranty being given
[765]
but you know the notary all that stuff
[767]
is the same all this stuff done here is
[769]
the same just kind of
[771]
document with a lot of the same actions
[772]
and it's worth noting that every single
[775]
state in the US has some some varying
[777]
you know laws and statutes and
[779]
regulations and all that about how you
[782]
write deeds so really what I would
[784]
suggest if you're going to be doing
[785]
something in any other state probably
[788]
the best resources I can share with you
[789]
is this company here called the US legal
[792]
and all you got to do is go right here
[794]
where it says real estate then down here
[798]
where it says deed forms and right here
[803]
is going to show you all the different
[805]
states in the country and just for
[807]
example if we wanted to go to California
[810]
there are all kinds of different
[813]
templates here I mean literally pretty
[815]
much any scenario you can ever think of
[817]
whether it's you know husband or wife
[820]
selling it to a corporation or just look
[822]
through it and you'll see exactly what
[823]
I'm talking about but all you got to do
[825]
is you know find the state and whichever
[828]
scenario you're working on you can click
[830]
on that and you can buy these things
[831]
right here and you can X to see a
[833]
preview of them before you get them so I
[836]
mean if you just take a look at this
[837]
here as you can see this template looks
[839]
a little bit different than Miami
[840]
there's some differences in formatting
[842]
and all that pretty sure some of the
[843]
wording throughout here is going to be a
[845]
little bit different for the most part
[846]
the actions that you have to take to
[848]
fill it out are pretty much the same
[850]
there's just kind of some different
[851]
wording throughout here based on the
[853]
various laws and statutes and rules in
[855]
California so just for the record it is
[857]
actually extremely important to be
[859]
working with the correct deed document
[862]
that has the right wording and all that
[864]
if you want to make sure that you're
[865]
working with the right thing I would
[866]
definitely suggest that you head over to
[867]
US legal find the state find the
[870]
scenario that you're working with you
[871]
know check out the preview and take a
[873]
look at what you're going to be buying
[874]
and once you know you got the right
[875]
thing go ahead and buy it and then the
[876]
beauty is you can use that same template
[879]
over and over and over and over again as
[881]
long as you're still working in that
[883]
same state so that's all for now
[884]
hopefully you found that helpful and
[886]
again just to be clear I am NOT an
[889]
attorney alright so do not take this as
[891]
legal advice this is just the exact way
[894]
that I create my deeds which I've been
[896]
doing for several years now and it's
[898]
it's been working fine for me but
[900]
definitely before you start doing this
[902]
stuff make sure you run this
[903]
documentation
[904]
a legal professional in your area who
[907]
can actually give you advice on your
[909]
exact situation do not take this stuff
[911]
as the gospel truth I just wanted to
[913]
show you a very quick overview of how I
[916]
do it in the way that works for me so
[918]
thanks again for checking out the video
[919]
I hope you found it helpful and yeah
[922]
well let's stay in touch
Most Recent Videos:
You can go back to the homepage right here: Homepage