Posted on: 10th Jul, 2012 12:05 pm
If property is transferred using a warranty deed do deliquent taxes transfer also?
Hi dee,
As far as I know, a warranty deed can be used only when the property is free and clear of all liens. If the new buyer finds any delinquent taxes at the time of title search, it will be better if he/she could ask the seller to pay it off and then sell off the property.
As far as I know, a warranty deed can be used only when the property is free and clear of all liens. If the new buyer finds any delinquent taxes at the time of title search, it will be better if he/she could ask the seller to pay it off and then sell off the property.
Hello dee,
Though the grantor guarantees good title, the deed is no substitute for title insurance because a warranty from a grantor who later dies or goes bankrupt may have little value. Warranty deeds usually require that a title search be conducted by a trained professional to ensure that the property is free and clear of liens or encumbrances.
:idea:
Though the grantor guarantees good title, the deed is no substitute for title insurance because a warranty from a grantor who later dies or goes bankrupt may have little value. Warranty deeds usually require that a title search be conducted by a trained professional to ensure that the property is free and clear of liens or encumbrances.
:idea:
