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How Does A Warranty Deed Stand Out From Other Deeds?

By Author: Carl Glendon
Total Articles: 94

A warranty deed states that the ownership of a title is clearly owned by the grantor, and a guarantee is offered about the same. For property buyers, it is arguably the best option – given that it offers them the most comprehensive guarantee that there are no claims or lien on the property. For this reason, primarily, general warranty deeds happen to be type of deed used most commonly in real estate sales. Find out how it varies from other legal deeds, such as a quit claim deed template.

Quit Claim Deeds

These deeds only convey what is owned by the grantor, and does not make any promises or give any guarantee that there is no other claim against the said property. The grantor, in a special warranty deed, only assures that there have been no claims made against the property during the ownership period, and does not make any promises about any period before that. Sometimes, it is also referred to as a ‘Limited Warranty Deed’.

Deed of Trust

It is used for securing a mortgage, and provides mortgage agencies the right of property sale in case the mortgage is not paid back by the borrower. A warranty deed form, on the other hand, gives an assurance that there the clear title of the property belongs to the present owner, and he can transfer the same to the seller. Please visit this site to get a quitclaim deed form in Georgia.

Survivorship Deed

In a survivorship deed, two or more individuals take title to some property in the form of joint tenants with survivorship right. In case of the death of an individual, the other one automatically becomes the property owner without any need for a transfer. Special warranty deeds are the types of legal documents which promise that grantors are the one who need to bear the responsibility to compensate the grantee.

Author Resource:

Carl writes often about online legal drafting like affidavit, bill of sale and quitclaim deed forms to help the people. You can find his thoughts at quitclaim deed template blog. To learn more about drafting a quitclaim deed form in Iowa online, visit this website.

Total Views: 26Word Count: 374See All articles From Author

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