What is a Deed?
When a house is transferred, whether by trustee sale, inheritance, eminent domain, short sale, a deed is required. A deed is a written document through which property is conveyed.
There are normally 3 kinds of deeds utilized in property dealings: quit-claim, warranty and grant. A grant deed is actually a conveyance which includes all of the suggested warranties and agreements of title.
In the transfer of real estate, a deed conveys ownership from the old owner (the grantor) to the new owner (the grantee), and can include various warranties. The precise name and nature of these warranties differ by jurisdiction. Often, however, the basic differences between them is the degree to which the grantor warrants the title. The grantor may give a general warranty of title against any claims, or the warranty may be limited to only claims which occurred after the grantor obtained the real estate. The latter type of deed is usually known as a special warranty deed. While a general warranty deed was normally used for residential real estate sales and transfers, special warranty deeds are becoming more common and are more commonly used in commercial transactions. Source: Wikipedia