What are the different types of deeds in real estate?

The different types of deeds for property are warranty deeds, sale deeds, gift deeds, etc. These legal documents are an essential component of real estate transactions and act as evidence of ownership. Every kind of deed has a distinct function and set of legal specifications. I have shared a few details below.

What are the Different Types of Property Deeds?

Here are a few types of deeds.

• Warranty Deed: This type of deed provides the highest level of protection to the grantee (the recipient of the property). It also ensures the property is free from encumbrances or claims, except those explicitly stated.

• Quitclaim Deed: A quitclaim deed offers no warranties or guarantees regarding the title. It is used in situations such as divorce settlements or transfers between family members.

• Special Warranty Deed: This deed provides a limited warranty, wherein the grantor guarantees they have caused no title problems during their ownership of the property.

• Bargain and Sale Deed: It implies that the grantor has the right to sell the property, but it does not include any warranties regarding the title.

To know how many types of property deeds are there in total, you can go through the list shared by Ruchi Tripathi here. I hope you found this helpful.

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What is difference between conveyance deed and sale deed?

In India, various types of deeds for property are used in real estate transactions to establish legal ownership and transfer property rights.

The types of sale deeds are given below:

1. Sale Deed

   : A sale deed is a legal document that is used to transfer ownership of a property from the seller to the buyer. It also contains the terms and conditions of the sale, the consideration amount, and any other important details.

1. Gift Deed

   : It is used to transfer property ownership as a gift from one person to another without any monetary consideration.

2. Lease Deed

   : It is used to grant a rental agreement for a specific period. It includes the terms of the lease, including rent, duration, and other terms and conditions.

3. Mortgage Deed:

   It is used when the property is given as collateral for a loan. It provides security to the lender. If the borrower defaults, the lender can sell the property to recover the loan amount.

4. Relinquishment Deed

   : It is used when a co-owner gives up their share of ownership in a property to another co-owner.

5. Partition Deed

   : It is used to divide property among co-owners. It includes the details of the shares of each co-owner. It also specifies the property allocated to each.

6. Release Deed

   : A release deed is used to relinquish the rights of one party over the property in favor of another party.

7. Trust Deed

   : A trust deed is used to create a trust. When a property is transferred to a trustee to manage for the benefit of beneficiaries according to specified terms.

8. Exchange Deed

   : It is used when two parties agree to exchange their properties. The deed includes the terms of the exchange.

9. Power of Attorney (POA)

   : It is exactly not a deed, but it allows someone to act on behalf of the property owner. It can be used for various purposes, including property transactions.

10. Development Agreement

    : It is used between a landowner and a developer for the development of a property. It includes the terms of the development project, revenue sharing, and other details.

This should answer your question:

how many deeds are there in India?

Draft deeds and agreements for property at nominal rates here

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A deed is nothing but an agreement or document that is written, agreed upon and signed by parties. There are several types of deed in property and each one of them has its own purpose. Aadar Ji has already mentioned them so let me just help you understand what are the most important deeds in brief now. 

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  What are the types of property deeds in India?

There is a total number of 15 types of deeds in India. So here goes the most important types of deed in India and their meaning

Sale Deed- 

A sale deed is a deed signed between the seller and the buyer. It is signed during the buy or sale of the property and serves as proof of ownership for a particular property.

  Mortgage deed-

This deed contains every detail about a loan like the parties involved, property held as collateral, the loan amount, interest rate of the loan and so on. 

  Lease deed-

This deed is an agreement used during the lease of a property between the parties, the tenant and the owner.

  Gift deed-

This deed is used when an individual gifts his/her property to another person. Through this deed, both a moveable and immovable property can be transferred.

  General Warranty Deed-

This deed is used for residential real estate sales. This deed binds the seller and the buyer of the property making it clear that the property is free of any obligations and liabilities.

  Special warranty deed

This deed mentions two aspects, first that the grantor has title to the property and second, that the property is free of encumbrances during the grantor’s ownership term.

These are the most used deeds in India. 

 

Other deeds are-

• Quitclaim deed

• Trust Deed

• Trust Deed

• Fiduciary Deed

• Conveyance Deed

• Deed of Power of Attorney

• Relinquishment Deed

• Grant Deed

You must have now understood how many types of deed are there. It is not actually hard to understand the meaning. Once you read the name, you will automatically know what are the purpose of these deeds. These are the types of deeds used in land purchase as well. 

I am glad that people want to know such important things. Before buying or selling a property, it is always better to know about the types of deed in property so that you can draft them easily. 

  Read More:

What is Sale Deed Number?

What is Gift Deed?

Can I sell a property with quit claim deed?

What is the difference between the registration of agreement of sale and sale deed?

How to get sale deed online?

 

A deed is a written communication that indicates ownership, transfers or confirms ownership of an asset, right or ownership. The grantor, the originator of the land, must surrender his land rights to the beneficiary, in order for the document to be valid and legal. I came across these types of deeds when I sold my property in 2019. I understood that it is very essential to know about all these deeds and their use. A deed must include the grantor and grantee's names, as well as an appropriate description of the property, in order to be legally enforceable. There are various types of deeds, each with its own legal purpose based on the property's background and any other liabilities such as a debt. Let’s understand the types of deeds in India.

Guide on what are different types of deeds in real estate:

1) The deed should be done in written format with all the legal procedures to verify the property details. 2) If you want the deed to be considered a valid document, it must be stated specifically. 3) It should be signed by both grantors and grantees to verify and proceed with the statements. 4) It should be witnessed by at least one individual who is not a participant in the deed in question. 5)The deed needs to be handed up to the other individual or party as per law.

Types of deeds in India:

• Deed of Adoption
• Deed of Quitclaim
• Deed of Trust
• Deeds of Court Order
• Deed of Fiduciary Trust
• Deed of Grant
• Deed of Conveyance
• Power of Attorney Deed
• Deed of Relinquishment
• Deed of Sale
• Deed of Mortgage
• Deed of Lease
• Deed of Gift
• Deed of General Warranty
• Deed of Special Warranty

The term deed is used for any type of written document that confirms and transfers an ownership interest from one person to another. Simply, a deed is a written instrument that includes a legally enforceable promise to do something. These documents are commonly used to transfer real property ownership between individuals. There are three main types of deeds namely general warranty deeds, special warranty deeds, and quitclaim deeds. General warranty deeds provide the grantee with complete security, while special warranty deeds provide partial protection, and a quitclaim deed gives the grantee the least legal protection. I hope you understood the types of deeds. Get your deed sanctioned with the help of NoBroker. Read More: What is gift deed? What is sale deed number? What is registered sale deed?