Problem during Transaction in update

I am using a Bussiness method UPDATE in which i am first deleting the record and then i am creating agian the same record with the new values. While performing create operation if any of the values passed are wrong, then create process fails. and the whole UPDATION fails(also record is lost), to avoid this i wann to rollback the transaction once there arises problem in create process. To perform this kind of rollback what are the transaction properties to be performed.