deed of conveyance and deed of assignment

Understanding Deeds of Conveyance and Assignment in Real Property Transactions

When it comes to real property transactions, deeds of conveyance and assignment play a crucial role in transferring ownership from one party to another. In this article, we will delve into the intricacies of these two types of deeds and explore their significance in Kentucky law.

Deed of Conveyance:

A deed of conveyance is a document that transfers title or interest in real property from one person (the grantor) to another (the grantee). In Kentucky, all deeds must be in writing and signed by the grantor (KRS 382.110). The deed must also include certain essential elements such as:

* A description of the property being conveyed

* The consideration or purchase price

* The names and addresses of the grantor and grantee

* A statement acknowledging that the deed is executed in accordance with Kentucky law

Deed of Assignment:

A deed of assignment, on the other hand, is a document that transfers an existing interest in real property from one party to another. This type of deed is typically used when a person wishes to assign their rights or interests in a particular property to someone else.

Key Differences:

While both deeds are used to transfer ownership, there are some key differences between them. A deed of conveyance is used to transfer the entire interest in real property from one party to another, whereas a deed of assignment is used to transfer only a portion of that interest.

In Kentucky, all deeds must be recorded with the county clerk's office (KRS 382.240). This ensures that any interested parties have notice of the transfer and can research the property's history.

Deeds of conveyance and assignment are essential documents in real property transactions, ensuring that ownership is transferred legally and effectively. In Kentucky, it is crucial to understand the intricacies of these deeds and ensure that they comply with state law.

Deed of conveyance and deed of assignment