![]() ![]() This type of conveyance is used by mortgage lenders when a borrower has paid off their mortgage with the debt having been satisfied, the lender no longer has conditional claims to the property. Often a conveyance will describe specific property the grantor intends to convey, followed by a clause expressing the intent to convey all the grantor owns in a specified city, county, etc. Conveyance The conveyance agreement must be able to properly convey that a particular property is being transferred from one part to another. Reconveyance deeds are used when prevailing conditions have changed and the deed needs to be "re-conveyed". ![]() Quitclaim deeds are often used for gifting title as it is a basic type of deed that simply convey that the grantor does not hold any interest in the property being transferred. The grantor of a quitclaim deed makes no assertion over the ownership or condition of the property. Quitclaim deeds are used to convey title without any covenants. Purchase Price means the amount payable by the Purchaser to the Vendor specified and set forth in clause 2.01, as modified by the adjustments and.Commonly used by banks on foreclosed properties, these type of conveyances hold little to no claims regarding prior ownership of the property. Bargain and sale deeds, sometimes called special warranty in other states, occur when the grantor makes assertions about the title, but the covenants in the agreement only relate to any time period in which the grantor owned the property.
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