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Warranty Deed
- A
legal instrument (legal
document) which is used to
transfer (convey) rights in
real property from one
entity (the grantor) to
another (the grantee). It
is called a warranty deed
because the grantor is
legally bound by certain
covenants or warranties. In
most states, the warranties
are implied by the use of
certain words specified by
statute. In some states, the
grantors warranties are
expressly written into the
deed itself. Generally the
Grantor warrants to the
Grantee that they do in fact
have title and possession of
the property and can validly
grant or convey both. The
Grantor also promises that
there are no encumbrances,
other than those that have
been previously disclosed.
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Warranty Deed Types |
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General Warranty
Deed
- This is the
most common type of
warranty deed. This deed
provides the greatest
protection for the
grantee. The covenants
in a general warranty
deed are not limited to
matters that occurred
during the time the
grantor owned the
property; they extend
back to the property's
origins. The grantor
warrants that they will
defends the title
against both himself or
herself and all those
who previously held
title.
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Special Warranty
Deed
- A special
warranty deed only
contains two basic
warranties: 1. That the
grantor received title.
2. That the property was
not encumbered during
the time the grantor
held title, except as
otherwise noted in the
deed The grantor may
include additional
warranties but they must
be specifically stated
in the deed.
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Other Deed Types |
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Quit Claim Deed
- A
quitclaim deed
is a legal instrument by
which the owner of a
piece of real property,
called the grantor,
transfers his or her
interest to a recipient,
called the grantee. The
owner/grantor terminates
(?quits?) his right and
claim to the property,
thereby allowing claim
to transfer to the
recipient/grantee.
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Grant Deed
- A grant deed
is used in some states
and jurisdictions for
the sale or other
transfer of real
property from one person
or entity to another
person or entity. Each
party transferring an
interest in the
property, or "grantor",
is required to sign it.
Then the document must
be acknowledged before a
notary public
(notarized) or other
official authorized by
law to administer oaths.
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