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A Special Warranty Deed, also known as a Limited Warranty Deed, is a type of real property (i.e. land or a building like a house or apartment) deed where the grantor or owner of the property transfers (grants) and warranties title to their portion of interest in the property in which the grantor has title. A Special Warranty Deed is commonly used when a property is transferred between parties unfamiliar to each other as it provides certain warranties or safeguards for the Grantee or buyer against fraud. A Special Warranty Deed provides a guarantee to the buyer that the seller owns the property, has the right to sell the property free and clear of any debt (unless the debt is disclosed in the deed). Unlike a Warranty Deed, where the Grantor will defend the title to the property against any claims whatsoever against the title that resulted from defects under any prior ownership including the sellers' ownership, a Special Warranty Deed only guarantees the title against defects caused during the Grantor's ownership of the property. An example of a potential title claim/defect is a mortgage on the property that has not be satisfied. Without a warranty the Grantee has limited recourse in holding the Grantor liable for the unpaid mortgage. While the Grantee does not become responsible for paying the mortgage the Grantee will likely be unable to sell the property due to the cloud of title caused by the attached mortgage.
** If the Grantor does not desire to provide any guarantees you should consider preparing a Quit Claim Deed.
According to Fortenberry (2017) of DeedClaim dot com, "A special warranty deed (called a grant deed, covenant deed, or limited warranty deed) is a deed form that transfers property with a limited warranty of title."
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Is a warranty deed the same as a conveyance deed?
Yes. A warranty deed is a deed of conveyance.Yes. A warranty deed is a deed of conveyance.Yes. A warranty deed is a deed of conveyance.Yes. A warranty deed is a deed of conveyance.
Difference between a special warranty deed and a general warranty deed?
Both general warranty deeds and special warranty deeds can be used for real estate sales where a property is transferred between parties unfamiliar with each other. The difference is the extent of the coverage of the warranty.
What is a warranty deed in Texas?
A Texas warranty deed is a warranty deed that is drafted based on the requirements of the Texas statutes. Texas also has a statutory warranty deed.
Is there implied warranty of title in all real property transfers?
Absolutely not. Only a warranty deed carries any warranty of title.Absolutely not. Only a warranty deed carries any warranty of title.Absolutely not. Only a warranty deed carries any warranty of title.Absolutely not. Only a warranty deed carries any warranty of title.
What is a corr warranty deed?
That may refer to a 'corrective warranty deed'.
I got divorced and ex was awarded house. should i sign a special warranty deed over?
I would only sign a quitclaim deed.
Can a warranty deed be reserve by quit claim deed after a death?
No. A warranty deed cannot be reserved by a quitclaim deed. Deeds convey real property.No. A warranty deed cannot be reserved by a quitclaim deed. Deeds convey real property.No. A warranty deed cannot be reserved by a quitclaim deed. Deeds convey real property.No. A warranty deed cannot be reserved by a quitclaim deed. Deeds convey real property.
What should a buyer do if offered a special warranty deed?
it depends on the warranty eg. if its an ipod touch and the warranty is more than 3 months plus 2 yr manufacturing warranty.... TAKE IT!
What are the disadvantages of special warranty deed?
A Special Warranty Deed only provides warranty of title for the period during which the grantor owned the property. In some jurisdictions that type of deed is called a quitclaim deed. It does not guarantee that the grantor has good title, full ownership or that there exist no liens or defects prior to the grantor's ownership. If you acquire real property by a Special Warranty Deed you should have the title examined by a professional title examiner who is familiar with the required time period that must be covered by a title examination in your state as well as ALL the legal issues that affect title to real property. An attorney should represent you in the purchase.
How do I remove my ex-husband's name from a timeshare special warranty deed?
The only way to 'remove' your ex-husband's name from your deed is for him to sign a quitclaim deed that conveys his interest in the timeshare to you.
What is a real estate war deed?
A war deed is a warranty deed. http://en.wikipedia.org/wiki/Warranty_deed has nothing to do with military war.
Is Grant Bargain Sale Deed a Warranty Deed?
No. A bargain and sale deed is not the same as a warranty deed. The primary difference is that a bargain and sale deed does not guarantee that the seller holds clear title to the property.
