Legal Question in Real Estate Law in California

What other kind of deed would you prefer? I 'd say that in California around 80% of property transfers are done by grant deed, with the balance done by wills, testamentary trusts, foreclosure, quitclaim deeds, court order and a few other rare means. I recommend that you get some legal coaching to understand how real estate transactions are done or enlist an escrow agent to handle the transaction for you to ensure that payment is made before title is delivered. I should add that you need to work with your lender to arrange for the loan to be paid as part of the sale transaction or for the buyers to assume the loan at the same time they acquire title.

I agree with Mr. Whipple that you need to get some basic education in how real estate transfers are handled. You are right that you don't want to give a deed without assurance that your loan is paid, etc. Giving and recording the deed should be the last or near to last thing that happens in a real estate sale. But, that's why people use an escrow. The escrow holder receives all the documents and money, and then makes sure the documents are recorded and the money distributed in accordance with the agreements of the parties.

Although you haven't said this, it also sounds like you may be intending some kind of deal where your loan would stay in place after you sell to the parents, maybe they would pay the loan? Or pay you monthly an you pay the loan? Anything like that? If so, DON'T DO IT. You need to make sure the parents don't get title without paying off your loan. It will be an event of default on the loan if title changes hands without paying the loan in full. The lender can then demand a full payoff immediately, or foreclose.