There are essentially four basic types of deeds in Florida and a few additional specialized ones based on those four. Those four basic types of deeds, in order of diminishing benefit to the Grantee, are the Warranty Deed, the Special Warranty Deed, the Fee Simple Deed, and the Quit Claim Deed. Furthermore, you have specialized Deeds such as Personal Representative, Trustee, Guardian, and Life Estate Deeds.
All of the above deeds, except the Quit Claim Deed, expressly convey fee simple ownership of property. “Fee simple” means full and complete ownership of property which can be inherited by the owner’s heirs or devised by the owner’s will or trust to the owner’s beneficiaries. Therefore, fee simple ownership of property does not terminate upon the owner’s death and is more than a mere right of possession like a lease gives a tenant.
The General Warranty Deed provides five covenants of title:
The Covenant of Seisin: The seller in fact owns the property being conveyed, is the sole owner, and is the only party in possession.
The Covenant of the Right to Convey: The seller has the right to convey the property.
The Covenant Against Encumbrances: The seller asserts that there are no undisclosed or nonvisible encumbrances against the property being conveyed.
The Covenant of Quiet Enjoyment: The seller states that the buyer’s use, possession, and enjoyment of the property will not be disturbed or “disquieted” because of a defect in the title to the property.
The Covenant of General Warranty: The seller will protect the buyer from harm caused by title defects and defend the buyer from any claims by others to the property’s title.
The Special Warranty Deed.
Similar to the General Warranty Deed, the Special Warranty Deed conveys a fee simple title and has the same five covenants of title. Where the Special Warranty Deed differs is that the application of the five covenants of title is limited to only the time period during which the seller owned the property. Consequently, if a seller gives a buyer a Special Warranty Deed, and the buyer subsequently discovers that a prior owner breached one of the five title covenants, creating a current title defect, the current seller is not liable for correcting the defect because the seller did not breach the covenant.
The Fee Simple Deed.
With a Fee Simple Deed, like with Warranty Deeds and Special Warranty Deeds, the seller conveys fee simple title, but unlike with Warranty Deeds and Special Warranty Deeds, the seller provides no warranties or covenants of title it simply conveys the fee simple title.
Thus, the Fee Simple Deed has no warranty paragraph or covenants of title. Instead, often only the following statement is in their place:
“The Grantee shall have and hold the said property in fee simple forever.”
The Quit Claim Deed.
Contrary to popular belief, the Quit Claim Deed was not intended and does not claim, to actually convey any type of ownership in the property, much less fee simple ownership. In fact, it contains no covenants of title. The main purpose of a Quit Claim Deed is to serve as a tool to clear the titles to property and eliminate title defects. The offering of a Quit Claim Deed is a releasing and transferring, with or without compensation, by a person who has or might have a claim to some right or interest in a property or its ownership. This is where the name of this deed comes from because the giver is giving up or “quitting” his or her “claim” to the property regardless of what that might be.
Special Variations of Deeds.
Personal Representative’s, Trustee’s, and Guardian’s Deeds: Sometimes, persons serving as personal representatives, trustees, and guardians sell and convey the property of others to buyers. Persons in these positions serve in fiduciary capacities. A person who serves in a fiduciary capacity transacts business on behalf of, or handles the money of, others, not for his/her own benefit, but for the benefit of the owners, and the fiduciary must act in good faith and in trust on behalf of the owners. Conventionally, fiduciaries such as personal representatives, trustees, and guardians, are selling and conveying the property of others, of which they typically often have little knowledge and do not personally own. Personal Representative, Trustee’s, and Guardian’s Deeds are actually based upon Fee Simple Deeds, and accordingly, typically have no title covenants or warranties since the personal representatives, trustees, and guardians are acting not for themselves, but on behalf of others who are the owners of the property. Since their deeds have no warranties, personal representatives, trustees, and guardians are shielded against being held personally liable by buyers should the properties the fiduciaries convey have title defects.
Life Estate Deeds:
Life Estate Deeds are also regularly based on the Fee Simple Deed but can be similar to the Warranty Deed or Special Warranty Deed. These deeds convey property to a person or persons for their life or lives, ending upon his or her death for one person or the last of their deaths for more than one person. This ownership is known as a “life estate,” and it entitles the holder the right to possess, live at, and use the property during their lifetime. The deed goes on to state that, upon the life tenant’s death, the property is then owned by another person or persons in fee simple. The ownership of these people is called the “remainder interest,” and they are called “remaindermen.”
