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Warranty Deed

2 signers
1 Grantor
2 Grantee
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When you plan to buy or sell your home, you’ll need to understand warranty deeds. These real estate documents offer high security to sellers and purchasers and play a vital part in negotiations and ownership transfers. This template covers all that is necessary for a warranty deed involving the purchase or sale of a real estate property: its use, benefits, and how to apply them. Hopefully, it will help you understand and use warranty deeds like this template we’ve made available for download and easy customization.

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warranty deed template
As a purchaser or lessee, you will definitely be asking for warranties from your seller. Your seller must confirm that they hold a free or clear title to the property, without any encumbrances or other liens, and that the property is free from defects. The seller will also have to confirm that they are the rightful owner of the property and can transfer ownership to you.
Meanwhile, if a seller owns the property and is looking to sell it, they will also be looking for warranties confirming that you are in good financial standing and that you can fulfil your commitments to the property. You also have to confirm that you will not make any claim against your buyer’s title or property once ownership is transferred to you.

Why a Warranty Deed is Needed for a Real Estate Transaction

There are a few different types of warranty deeds that you may encounter when working with real estate transactions. The most basic legal document is a warranty deed, which provides complete protection to buyers and ensures they purchase valid ownership. A grant deed is a standard warranty deed, although it protects less against fraudulent claims than other types. Whatever type you use in your transaction, carefully review all terms and conditions before signing them.

If you’re thinking about purchasing or selling a home, it’s essential to understand the role warranties play in the process. Get a warranty deed template like this one from Fill to ensure that your real estate transaction goes smoothly without legally binding complications. Proper preparation makes you feel confident and secure as you purchase or sell your home.

Buyers should do thorough due diligence and ensure that the property does not contain any defects. A property lawyer may assist if buyers are confused about conducting a title search.

Exploring the Contents of a Warranty Deed

States across America vary in requirements for warranties deeds, but there are common basic facts about warranties deeds. The warranty agreement, in particular, should also have language that guarantees clear property ownership.

There are a few key elements that must be present in any warranty deed, such as:

  • The name and address of the seller and buyer (or lessor and lessee
  • An indication of whether or not the property is new construction or an existing property
  • Confirmation that the seller holds clear title to the property without any liens, encumbrances, or other claims
  • The price of the property, if applicable
  • Details about any obligations or agreements between the buyer and seller
  • Any warranties regarding the sale or purchase of the property
  • Any contingencies, such as inspection periods that must be met before the transfer of ownership

As with any real estate transaction, it is essential to carefully read and review the warranty deed before signing to ensure that all information is correct and that the agreement protects you from any potential legal or financial issues.

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General warranty deed

A general warranty deed guarantees that the seller legally owns the property and has the right to sell it and that no liens or other claims are attached to the title. Also called a full warranty, the buyer receives complete protection against defects or issues.

Special warranty deed

A special warranty deed is similar to a general warranty deed, but it only guarantees that there are no issues with the property title. For example, a previous owner can’t be held accountable for any problems or third-party claims that occurred outside ownership of the property. This type of warranty is less comprehensive and may not be suitable for buyers who want the most protection possible.

FAQ About Warranty Deeds

A warranty deed contains information about the buyer, seller, and property. This includes things like the name and address of each party, a description of the property being sold or transferred, any conditions or contingencies that must be met in order for ownership to be transferred, and any warranties or guarantees related to the sale.
A title company completes a title investigation and reviews all records to determine if there are any issues with their title. The guarantee and disclosures of this legal real estate document permit the new owner, in case of title defects, to hold the original owner liable for the title. In most circumstances, title insurance can cover a wider spectrum of potentially disputed claims. A warranty deed is separate from a quitclaim deed by a title firm.

A warranty certificate alone cannot be used as an indication of ownership of the property and must also be presented as proof of the ownership of the property. Depending on whether the act contains errors, the other party might be entitled for the same property. In the case of title disputes, the buyer will have full rights over the property.

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