Deeds can be daunting!
With several different types of deeds transferring property can be confusing. So to clear up some of the confusion here is a great video that explains some of the types of deeds you may run into while participating in our auctions.
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A trustee’s deed is similar to a grant deed. In bankruptcy cases, a trustee has the right to transfer the title of non-exempt assets. A trustee’s deed is often used distressed property transfers. A trustee signs for the debtor (owner who filed bankruptcy). Some states may require proof of the bankruptcy to be filed alongside the deed. Commonly, these deeds do not offer any warranty or guarantee of clear title and are frequently used in “as is, where is” sales.