There are five types of deeds used in New Hampshire. They are each described below.
• Warranty Deed: A Seller/Grantor executing a deed with “warranty covenants” is warranting that, “at the time of the delivery of such deed, (1) the Seller/Grantor was lawfully seized in fee simple of the granted premises, (2) that the granted premises were free from all encumbrances, (3) that the Seller/Grantor had good right to sell and convey the property, and (4) that the Seller/Grantor will warrant and defend against any lawful claims. The Warranty Deed affords the Grantee/Buyer the greatest level of protection against title claims.
• Quitclaim Deed: If a deed contains “quitclaim covenants,” the Seller/Grantor is asserting that at the time of the delivery of the deed, the premises were free from all encumbrances made during the course of the Seller/Grantor’s ownership, and that the Seller/Grantor and their successors will warrant and defend the same to the Grantee/Buyer and his heirs . Essentially, the Seller/Grantor is conveying whatever interest the Seller/Grantor holds in the described property and warrants against any claims originating with or through his ownership of the property (except those detailed in the deed itself).
• Release Deed: A release deed contains no warranties or covenants and is merely a conveyance of any interest the Seller/Grantor may have in the described property. This type of deed affords the Grantee/Buyer the least amount of protection against claims of title or possession.
• Fiduciary Deed: A fiduciary deed, like a release deed, typically contains no warranties or covenants of any kind. A fiduciary deed is appropriate where the signatory is acting in a fiduciary capacity for the seller, for example, an executor of an estate, a guardian or conservator of an incapacitated individual, or an institutional trustee signing on behalf of a trust.
• Foreclosure Deed: A foreclosure deed is used when a foreclosing lender conveys a property to a bona fide purchaser. A foreclosure deed typically has Quitclaim covenants asserting that the foreclosing lender did not cause any encumbrances but is not making any representations or warranties regarding the status of the title prior to the foreclosure. It is critical that a careful title examination is conducted to confirm that the foreclosure process was handled properly. This includes a careful analysis of the title records, publication of the auction, and notice to creditors.
Hudkins Law PLLC was founded in 2006 by Jacqueline M. Hudkins. The firm provides title and settlement services for residential and commercial real estate transactions. Each real estate transaction is managed by a team of Attorneys and Paralegals to guarantee continuous coverage throughout the entire closing process and combines the expertise of Real Estate, Title, Trust, Estate Planning and Corporate Attorneys to offer competitive flat fee pricing. The firm employs ten Attorneys and a team of paralegals and maintains offices in Bedford NH, Concord NH, Claremont NH, Windham NH, New London NH, Hampton NH, Keene, NH, Norwich VT, & Andover, MA.