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Making a Bargain and Sale Deed
A Bargain and Sale Deed can be a useful way to transfer ownership of property. If you intend to transfer property with a person you are familiar with, such as a family member, or own a business and you want to buy or sell real property, then this is the right document for you.
A Bargain and Sale Deed will commonly be used in New York, Washington, Wyoming, Colorado, and Vermont when transferring residential property. This deed can be used when transferring ownership between family members, placing property into a family trust, or purchasing property at a tax or foreclosure sale.
A grantee possesses more protections with a Bargain and Sale Deed than a Quitclaim Deed. A Quitclaim Deed makes no warranties while Bargain and Sale Deed warrants that the grantor has title to the property.
In real estate, Bargain and Sale Deeds are typically used to transfer property ownership to a family member, into a trust, or buying real estate from a foreclosure sale.
Bargain and Sale Deeds are statutory in Oregon and can be used to transfer interest in a property from a grantor to a grantee.