Posted by Ryan on September 30, 2003 at 13:51:21:
When property is transfered by means of a warranty deed you will notice that says the property is being transferred for the amount of $10.
WITNESSETH, that the grantor, for and in consideration of the sum of TEN DOLLARS ($10.00), the receipt and sufficiency of which is hereby acknowledged and received, and for other good and valuable consideration, has granted bargained, sold and conveyed, and by these presents does grant, bargain sell, convey and confirm unto the grantee, their heirs and assigns forever, all the real property, together with improvements, if any, situate and being in the County
It is possible that the property deed was signed over to another individual such as a relative or investor for no money. Basically they are tranferring ownership and leaving the existing lien on the property. Since the new owner did not did not file a deed of trust the county does not know what the sales price of the property is so they record the amount of funds that was transferred during the transaction which would be $10 as out lined in the Warranty Deed.