The Role of a Deed in a Real Estate Transaction

 Posted on February 07,2024 in Real Estate Law

A deed is a legal document that transfers real property from a seller to the buyer. The deed is executed when the seller signs the document, officially conveying the property to the new owner

When a deed is not properly drafted or executed, then the validity of the transaction itself may be questioned. That is why it is always crucial to have a Stamford residential real estate attorney working on your behalf in any real estate transaction. Keep reading to find out what roles a deed serves in a real estate transaction.

Establishes Legal Ownership

Perhaps the most significant role is that a deed establishes your legal ownership of a property. It gives you the right to access and occupy the property, use the property as you desire, and transfer the property to another person.

The property description is the largest section of the deed, detailing the land’s boundaries. It allows a land surveyor to locate the property more easily and prevents boundary disputes.

Establishes any Easements

If someone else wants to access any portion of the land, this is known as an easement. A common example would be a neighbor walking across your property to get to their house.

Your new neighbor may have been doing this for years, and the former owner probably has no issue with the arrangement. In Connecticut, if a person uses a property for a continuous 15-year period, then the individual can claim a right to use the property. This is known as adverse use. However, both owners must share the cost to maintain the easement.

If you have a right-of-way dispute, a Fairfield County residential real estate attorney can help you discern another person’s legal right to use your property.

Establishes Property Conveyance Upon Death

A legally binding deed specifies an owner's right to convey property upon death. Often referred to as the “to have and to hold” clause, this element of a deed determines what happens to real property when an owner passes away.

Connecticut General Statutes §47 recognizes three forms of titling property: fee simple, tenancy in common, and joint tenancy. Fee simple means that a person has complete and total ownership of a piece of land. In this form of ownership, when you die, the property will pass to your heirs.

When multiple persons own a property, title can be in the form of tenancy in common. This is a common form of ownership between unrelated owners, allowing for each owner to hold a certain share in the property. Like fee simple, when an owner dies, their portion of ownership will pass through their estate.

The third form of ownership, joint tenants with rights of survivorship (JTWROS), is common between relatives and spouses. Unlike the other two forms of ownership, when a JTWROS owner dies, their interest will pass to the remaining property owners. Nothing passes through probate.

Schedule Your Consultation with a Stamford, CT, Residential Real Estate Attorney Today

A deed can help to clarify any disputes and officially transfers a property to the new owners. If you are buying or selling your house, do not hesitate to contact our Fairfield County, CT, residential real estate attorney today. Contact Law Offices of Daniel P. Weiner online or by calling 203-348-5846 to schedule your free consultation.