Q: Marsha, I’m about to close escrow on my first house. I’ve been asked how I want to take title of my new home. What does that mean? Also, I keep hearing about grant deeds, title deeds, and even quit-claim deeds. How many different types of deeds are there?
A: I understand your confusion. It’s befuddling. In addition to the deeds you mentioned, there are also correction, gift, warranty, grant deeds for life estate, deeds of reconveyance, inter-spousal transfer grant deeds, deed in lieu of foreclosure, and more.
The most common deeds are grant and quit-claim deeds, so I’ll briefly explain these. Remember for advice about your specific situation, speak with your real estate attorney.