Security deeds are used by lenders to evidence that a loan was made to the borrower and the real property serves as the collateral for the loan. Security deeds are signed by a borrower. These deeds are used in conjunction with a promissory note and recorded in the real property records. In jurisdictions outside of Georgia, these documents are called mortgages or deeds of trust, among other things.
A limited warranty deed is one in which the extent of liability for defective title is cut down by special recitals. The form in common use limits the warranty to the claims of persons holding by, through, or under the grantor. This is the type of deed that is specified in the Standard GAR Contract.
c. GENERAL WARRANTY DEED
A warranty deed is one containing covenants of title, usually a general warranty, which includes in itself covenants of a right to sell, of quiet enjoyment, and of freedom from encumbrances.
d. TRUSTEE’S DEED
A Trustee’s Deed is the vehicle for transferring ownership out of the trust. The deed will include a recital about the Trust Section that gives the Trustee the power to sell real property.
e. EXECUTOR’S DEED
f. ADMINISTRATOR’S DEED
An Administrator’s Deed is used when a person dies without a will and the Probate County issues Letters of Administration. The Letters of Administration will set out who has the right to sell the real property.