Transfer of Title and Closing
Deeds
A valid deed needs a competent grantor, an identifiable grantee, words of conveyance, a legal description, and the grantor's signature. Consideration is not required, but delivery and acceptance are. A general warranty deed carries present covenants (seisin, right to convey, against encumbrances) and future covenants (quiet enjoyment, warranty, further assurances). A special warranty covers only the grantor's own acts. A quitclaim deed conveys whatever interest the grantor has, with no promises at all.
Recording and title evidence
Acknowledgement permits recording, and recording gives constructive notice. Indiana's recording statute is race-notice: a later purchaser for value who records first, without notice of the prior conveyance, prevails. Know chain of title, title search, abstract of title, marketable title, and the difference between an owner's and a lender's title policy.
Involuntary transfers
Liens, judgment and mechanic's liens, tax sales, foreclosure, adverse possession, escheat, eminent domain, and bankruptcy.
Closing mechanics
Prorations (Indiana practice uses actual days over a 365-day year), escrow, the settlement statement, delivery and recording of the deed, payoff of existing loans, 1099-S reporting, FIRPTA withholding for foreign sellers, and final walk-through and survey issues. Indiana does not require an attorney at closing, though attorneys and title companies commonly handle them.
Traps
Recording does not cure a forged deed. Delivery, not recording, transfers title. A quitclaim deed does not imply the grantor owns anything.
Rule of thumb
Deed type sets the promises, recording sets the priority, and delivery sets the transfer.