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AFTER RECORDING, RETURN TO: SEND TAX STATEMENTS TO: STATUTORY WARRANTY DEED, with an address of (Granter), conveys and warrants to, whose address is, (Grantee), the following described real property.
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Herein FAQ
A bargain and sale deed indicates that only the seller of a property holds the title and has the right to transfer ownership. This type of deed offers no guarantees for the buyer against liens or other claims to the property, so the buyer could be responsible for these issues if they turn up.
A general warranty deed is the most common type of deed used for transferring real estate. It basically promises that: not only does the seller have good and proper title to sell the property, but all the prior owners also had good title, thus making a complete “chain of ownership”; and.
A warranty deed is a type of deed where the grantor (seller) guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee (buyer). This is in contrast to a quitclaim deed, where the seller does not guarantee that he or she holds perfect title to a piece of real estate.
A bargain and sale deed indicates that only the seller of a property holds the title and has the right to transfer ownership. This type of deed offers no guarantees for the buyer against liens or other claims to the property, so the buyer could be responsible for these issues if they turn up.
A bargain and sale deed with covenant against grantor's acts provides the grantee with a covenant that the grantor has not committed any act that would encumber title to the real property being conveyed. This is the most common type of deed used in New Jersey.
Special warranty deeds are the same as a warranty deed with one big exception: the covenant of freedom from encumbrances is limited only to those encumbrances created or suffered by the grantor.
In short, a warranty deed guarantees to the buyer that the property is exactly as stated – if not, the seller is liable. When transferring ownership via a bargain and sale deed, the seller only guarantees that the seller is the true owner of the property.
The quitclaim deed, also called a non-warranty deed, offers the grantee the least amount of protection. This type of deed conveys whatever interest the grantor currently has in the property—if any. No warranties or promises regarding the quality of the title are made.
Notary Related content
Deeds Types - The University of Maine
Most current deeds fall into one of four categories: 1) General Warranty, 2) Special...
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