Posted on: 16th Jan, 2008 06:28pm
A warranty deed is a legal document that helps you transfer title to property with the guarantee that you have legal rights on it and no other person has any rights on it unless stated on the deed.
If it's a general warranty deed, then the guarantee it offers extends for an indefinite period of time. As such, being a grantor, you will be held liable for defects in title existing even prior to his ownership on the property. However, if it's a special guarantee deed, the liability of the grantor extends only for his period of ownership.
On the other hand, a grant deed assures that the title has not been conveyed to any other individual except the buyer and that the grantor has not encumbered the property with any lien.
When you're selling or buying a property, it's better to use either general or special warranty deed depending upon the type of guarantee you're looking for. For any other kind of property transfer, a grant deed may be used.
For further information on deeds, you may look at the discussions:
If it's a general warranty deed, then the guarantee it offers extends for an indefinite period of time. As such, being a grantor, you will be held liable for defects in title existing even prior to his ownership on the property. However, if it's a special guarantee deed, the liability of the grantor extends only for his period of ownership.
On the other hand, a grant deed assures that the title has not been conveyed to any other individual except the buyer and that the grantor has not encumbered the property with any lien.
When you're selling or buying a property, it's better to use either general or special warranty deed depending upon the type of guarantee you're looking for. For any other kind of property transfer, a grant deed may be used.
For further information on deeds, you may look at the discussions:
I have seen both of these type deed describe exactly opposite. One reputable reference has the grant deed defined as a much more restrictive deed, which guarantees no liens or encumberances BEFORE the grantor had the property, and the warranty deed only assures no liens while the grantor HAD the property. another expert site has tose definitions reversed. Help please.
Hello Strikeu,
Welcome to the forum.
A grant deed guarantees that the title has not been transferred to any other person except the buyer and that the title is free from any other lien attached to the property.
The warranty deed assures that the seller holds a free and clear title to the property and has the right to sell it. In this case, the seller also agrees to compensate the buyer if he turns out to be wrong or if there is any legal claim by any other person.
For further information on warranty deed, you may look here http://www.mortgagefit.com/warranty-deed.html
Welcome to the forum.
A grant deed guarantees that the title has not been transferred to any other person except the buyer and that the title is free from any other lien attached to the property.
The warranty deed assures that the seller holds a free and clear title to the property and has the right to sell it. In this case, the seller also agrees to compensate the buyer if he turns out to be wrong or if there is any legal claim by any other person.
For further information on warranty deed, you may look here http://www.mortgagefit.com/warranty-deed.html
Hello Strikeu,
I think when you are selling or buying a property, it is better to use a Warranty deed because it assures you that the title is lien free. In any other kind of property transfer you can use a Grant deed. If the transaction is happening within the family, people even like to Quitclaim deed.
If you want to know more about quitclaim deed, you can check this article out - http://www.mortgagefit.com/quitclaim-deed.html
Hope this will help you.
Feel free to ask if you have any further questions.
Best of luck,
Larry
I think when you are selling or buying a property, it is better to use a Warranty deed because it assures you that the title is lien free. In any other kind of property transfer you can use a Grant deed. If the transaction is happening within the family, people even like to Quitclaim deed.
If you want to know more about quitclaim deed, you can check this article out - http://www.mortgagefit.com/quitclaim-deed.html
Hope this will help you.
Feel free to ask if you have any further questions.
Best of luck,
Larry
A grant deed grants a property interest without any warranty.
A special warranty deed is a grant deed that warrants that there are no existing encumbrances that were created during the time the grantor held the property interest.
A general warranty deed is a grant deed that warrants that there are no existing encumbrances at all, either created during the time the grantor held the property interest or created at any time before the grantor aquired the property interest.
A special warranty deed is a grant deed that warrants that there are no existing encumbrances that were created during the time the grantor held the property interest.
A general warranty deed is a grant deed that warrants that there are no existing encumbrances at all, either created during the time the grantor held the property interest or created at any time before the grantor aquired the property interest.
I agree with Larry.
I recently got divorced and want to change the name on my deed to my new name. Which form do I use. I am the only person listed on the deed. It is currently in my married name.
hi,
my name isn't on the home deed. we refinanced in september, and being his wife in arkansas, i had to sign some of the refinance papers. in october, he filed for a divorce, and says that i have no claim to the property. he paid, with the refinance loan, taxes and 2 credit cards. what recourse do i have?
my name isn't on the home deed. we refinanced in september, and being his wife in arkansas, i had to sign some of the refinance papers. in october, he filed for a divorce, and says that i have no claim to the property. he paid, with the refinance loan, taxes and 2 credit cards. what recourse do i have?
Hi Judy,
Welcome to the forums.
If your name is not on the deed, then you don't have a claim on the property. However, as part of the divorce, you can legally ask for compensation or property-interest. You need to consult with a divorce attorney as to what you can claim and how.
Take Care
Welcome to the forums.
If your name is not on the deed, then you don't have a claim on the property. However, as part of the divorce, you can legally ask for compensation or property-interest. You need to consult with a divorce attorney as to what you can claim and how.
Take Care
I'm buying a garage in a condo complex. What type of deed do I need?
Hi,
When buying or selling a property, It's better to go for a Warranty Deed as it warranties that the seller holds the title free and clear. A quitclaim or a grant deed, on the contrary, doesn't guarantee whether there's any claim or lien on the property.
When buying or selling a property, It's better to go for a Warranty Deed as it warranties that the seller holds the title free and clear. A quitclaim or a grant deed, on the contrary, doesn't guarantee whether there's any claim or lien on the property.
I'm the successor Trustee for my parents' trust, which contains some mineral rights. What's the best type of deed to use to transfer the mineral rights from the trust to the three heirs (myself included).
Thanks
Thanks
Hi jwbeland,
You are the successor trustee for your parents trust, I think you as the grantor can quitclaim the minerals rights to the three heirs (including you) as the grantees.
You are the successor trustee for your parents trust, I think you as the grantor can quitclaim the minerals rights to the three heirs (including you) as the grantees.
Iam going to buy the house which title will be conveyed by SPECIAL WARRANTY DEED
Does the title company insure for me ? if some one claim on it
what different grand deed and warranty deed ?
Does the title company insure for me ? if some one claim on it
what different grand deed and warranty deed ?
Hi AnDy!
Welcome to forums!
You can use a special warranty deed or a warranty deed to transfer the property when the property is free and clear of any liens. It is a better way to transfer a property than a quitclaim deed.
A warranty deed is a legal document which can be used to transfer title to property and no other person has any rights on it. A grant deed, on the other hand, assures that the title has not been conveyed to any other individual except the buyer and that the grantor does not has any lien on the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can use a special warranty deed or a warranty deed to transfer the property when the property is free and clear of any liens. It is a better way to transfer a property than a quitclaim deed.
A warranty deed is a legal document which can be used to transfer title to property and no other person has any rights on it. A grant deed, on the other hand, assures that the title has not been conveyed to any other individual except the buyer and that the grantor does not has any lien on the property.
Feel free to ask if you've further queries.
Sussane
is it possible to convey property through a grant deed wihtout paying anything for it? (No cosideration for the transfer of property) and if yes, how is that captured in the deed?