Warranty Deed
Sunday, December 7, 2008
Warranty Deed is another type of deed that is used to transfer the property to one person to another. But here the Grantor or the seller assures that he/she holds the title clear and free and has the absolute right to sell the property. The Seller even grantees that if buyer finds any debts attached to the title in the future then the seller will be liable to pay the debt. So it is always better to use a Warranty deed instead of Quitclaim deed when you are buying or selling a property. You can even hire someone for title search before purchasing the property so that you can find out whether there is any problem with the title of the property.
There is another kind of Warranty deed which is called Special warranty deed but this Special Warranty deed doesn’t assure as much protection as a General Warranty deed. In a Special Warranty deed, the grantor or the seller warrants that they have the ownership of the title and the title of the property has not been transferred to anyone else during their ownership of the property. The grantor or the seller warrants nothing prior to their getting the ownership. This type of Warranty deeds are mostly used by the trustees.
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