Anyone who needs a quitclaim deed, contract for deed or a warranty deed may find valuable templates available on the internet. The deeds are used to transfer real ownership of property, specifically those that are related to real estate. A warranty deed will transfer all obligations and responsibilities of one party and place them in the hands of another party. If there is an existing mortgage on
. the real estate, the person who is taking responsibility of the note via a warranty deed must be approved by the mortgage company.A contract for deed is typically referred to as a land contract. They are used as an alternative financing method for borrowers who are unable to qualify through traditional banks. Typically the land contracts are used for property which may or may not contain a structure. Land contracts hold just as much weight as traditional financing. The terms of the land contract commonly run for two years and have a fixed interest rate. The land contract is a legal, binding document that must be recorded with the office of the clerk in the county the property is located. It is important to understand that once the terms of the contract have matured, the owner of the land contract must deed the property to the buyer. That is where the warranty deed comes into play.Generally a land contract or contract for deed is considered a "seller carry.' This means all documents must be prepared by the seller and presented to a title company that will execute the full closing. Fortunately, access to the documents is quite easy through the power of the internet. Templates that cover the full language of a contract for deed are available for those who are preparing their own documents. Upon completion of the terms of the contract, warranty deed and quitclaim deed templates are available to complete the transfer of real property.More reference links: http://www.uslegalforms.com " Real Estate Forms http://www.lawdepot.com/contracts/contract-for-deed
