The following list includes a handful of the deed types you'll frequently see in the Property History section of the Property Details page. Any time there is a new deed for a property, the ownership time resets.
Note: If you see a notification on the Engage page that says "Deed information has updated," but the Property History doesn't indicate a new deed, this means that there may have been a county-wide deed update, or something small like a spelling change.
- A deed is a legal document that establishes the existence of a property, and allows for the transfer of property titles between parties (people, trusts, banks, etc.).
- A foreclosure is a process that begins when a borrower stops making payments on the property to the lender. The lender seizes and sells the property in an attempt to recoup the money still owed on the loan.
- Click here to learn more about distressed properties in Remine.
- Intrafamily Transfer & Dissolution
- An intrafamily transfer & dissolution is a deed that transfers ownership from one family member to another. Dissolution occurs usually in the case of a divorce, where ownership is transferred from the couple to just one person.
- Joint Tenancy Deed
- A joint tenancy deed is available only to married owners, and creates a right of survivorship. This means that when one owner dies, the surviving owner assumes the deceased owner's interest in the property.
- Warranty Deed
- A warranty deed proves that the title being conveyed via the deed is clear.
- Limited/Special Warranty Deed
- A limited (or special) warranty deed guarantees that the title has been clear only for the period of time that the seller has owned the property.
- Vendor Lien
- A warranty deed with vendor's lien gives the lender (vendor) the right to hold the property as security for an unpaid debt. This means that should the buyer fall behind on payments, the lender can seize the property until the property is paid for in full.
- Quitclaim Deed
- A quitclaim deed transfers a title from one person to another, with no guarantee (warranty) whether the seller has a clear title. The seller terminates their right or claim to the property, allowing the buyer to assume right or claim. Quitclaim deeds are used to transfer title in unique cases like divorces, gifts, or public auctions.