Understanding Deeds in Washington State: A Comprehensive Guide
Understanding Deeds in Washington State: A Comprehensive Guide
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When it comes to transferring property ownership in Washington State, deeds play a crucial role. A deed is a legal document that transfers ownership of a property from one person to another. In this article, we will explore the different types of deeds, their purposes, and the process of transferring property ownership in Washington State.
There are several types of deeds, including:
- Grant Deed: This type of deed is used to transfer ownership of a property from one person to another. It is the most common type of deed used in Washington State.
- Quitclaim Deed: This type of deed is used to transfer ownership of a property from one person to another, but it does not guarantee that the property is free from liens or encumbrances.
- Warranty Deed: This type of deed is used to transfer ownership of a property from one person to another, and it guarantees that the property is free from liens or encumbrances.
- Special Warranty Deed: This type of deed is used to transfer ownership of a property from one person to another, and it guarantees that the property is free from liens or encumbrances, but only for a specific period of time.
In Washington State, the process of transferring property ownership typically involves the following steps:
- Prepare the deed: The grantor (the person transferring the property) prepares the deed and signs it in the presence of a notary public.
- Record the deed: The deed is recorded with the county recorder's office in the county where the property is located.
- Notify the government: The grantor must notify the government of the transfer of ownership by filing a change of ownership report with the Washington State Department of Revenue.
- Notify the mortgage lender: The grantor must notify the mortgage lender of the transfer of ownership by sending a written notice to the lender.
It is important to note that the process of transferring property ownership in Washington State can be complex and may require the assistance of a lawyer. It is recommended that individuals seeking to transfer property ownership in Washington State consult with a lawyer to ensure that the process is completed correctly and efficiently.