Did Ya Know

Bargain and Sale Deeds

January 17, 2017

Good morning, All. I hope everyone enjoyed the extra day of rest. Today, we will continue our exploration of the principle types of deeds with the Bargain and Sale Deed. The Bargain and Sale Deed is sometimes called the fee simple deed and this is the type of deed generally found in Louisiana. Word of the day: Fee simple= the most common type of land ownership and means that the owners have complete ownership of the land and home but, are still subject to taxation and debt obligations on their mortgage. As noted in the LTI course, in a Bargain and Sale Deed transaction the seller (grantor) says in effect to the buyer (grantee), “I bargain , sell, transfer, and convey to you the real estate described in this deed. I make no warranties with respect to title or anything else.”