For example, the owner cannot sell complete ownership of the property-just the life estate. Once recorded, a life estate deed gives the remainder-interest holder a vested right to future possession, so it limits the current owner’s property rights. 7 The owner keeps the property for life, and when the life estate concludes because the owner dies, the holder of the remainder interest takes possession of the property. Life estate deeds are a traditional deed form that lets an owner reserve a lifetime interest in real estate and also grant a remainder interest to another person. 5 A property owner records a TOD deed while living, but the deed is fully revocable and does not limit the owner’s right to sell or transfer the property during life. Washington, DC, Transfer-on-Death Deed FormĪ Washington, DC, transfer-on-death deed-often called a TOD deed-names a beneficiary who will take title at the owner’s death. Each DC estate planning deed allows property to bypass the often complex and costly probate process. Washington, DC, law authorizes three estate planning deeds that automatically transfer a deceased owner’s property to a new owner chosen in advance. What Types of Estate Planning Deeds Are Used in Washington, DC?Įstate planning deed is an informal term for deeds that transfer real estate efficiently when the owner dies. We’ll go over the options that are available in District of Columbia and provide guidance on choosing the deed form that matches your goals.
Questions about what District of Columbia deed form is right for you?Ĭlick the link below to use our guided interview. Quitclaim deeds typically say that the current owner quitclaims the property to the new owner and often expressly disclaims a warranty of title.
The new owner cannot sue for breach of warranty if the transferred interest is invalid and a third party with superior title takes possession of the property. The legal effect of a DC quitclaim deed is that the new owner takes as is whatever interest the current owner has in the property. 4Ī Washington, DC, quitclaim deed form provides no covenants or warranty of title-placing all risk of title problems on the new owner. 3 DC real estate statutes have key phrases for the covenant of quiet enjoyment, covenant against encumbrance, and covenant of further assurance. Special warranty deeds in DC typically say that the current owner transfers the property “with special warranty” or will “warrant specially the property hereby conveyed.”Īttorney Practice Note: Washington, DC, general warranty deeds and special warranty deeds that rely on the statutory key phrases “with general warranty” or “with special warranty” implicitly include the common law covenant of warranty and covenant to defend. The parties are effectively splitting the risk of title issues-depending on when a specific issue arose. 2 Any title problems from before the current owner acquired the property are outside the warranty. The guarantee, though, is limited because it does not cover the property’s entire ownership history-just the period while the current owner held title. DC warranty deeds typically state that the current owner transfers the property “with general warranty” or will “warrant generally the property hereby conveyed.” Washington, DC, Special Warranty Deed FormĪ Washington, DC, special warranty deed form-sometimes called a limited warranty deed-also guarantees a good title. The new owner (the grantee) can sue the current owner for breach of warranty to recover any financial loss caused by a problem with the property’s title. 1 The current owner promises that, if a third party makes a claim against the property, the current owner will resolve the issue. The current owner (the grantor) guarantees a valid title subject only to exclusions listed in the deed. Washington, DC, Warranty Deed FormĪ Washington, DC, warranty deed form-also called a general warranty deed-provides complete warranty of title. Each type provides the new owner a different level of assurance about the quality of the transferred property’s title. Washington, DC, recognizes three types of deeds for transferring real estate ownership during the owner’s life. What Types of Deeds Are Recognized in Washington, DC?
Get a Customized District of Columbia Deed Today Just complete a user-friendly interview and get a customized deed that is attorney-designed to meet District of Columbia recording requirements. Need to transfer District of Columbia real estate?
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