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An Oregon bargain and sale deed form?like a quitclaim deed?transfers real estate with no warranty of title. Unlike a quitclaim deed, an Oregon bargain and sale deed conveys to the new owner any interests in the real estate vesting in the former owner after execution of the deed.
Quitclaim Deed This is the weakest deed. A Quitclaim Deed only conveys whatever interest the Seller (Grantor) has in the property to the Buyer (Grantee). The Quitclaim Deed offers no protection to the Buyer (Grantee).
In Oregon, a lawful bargain and sale deed includes the grantor's full name, mailing address, and marital status; the true consideration paid for the transfer (ORS 93.030); and the grantee's full name, mailing address, marital status, and vesting. Vesting describes how the grantee holds title to the property.
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.
Bargain and sale deeds From the grantee's perspective, this is better than a quitclaim deed but not as good as a warranty deed. If a bargain and sale deed specifically states one or more additional guarantees, it is known as a bargain and sale deed with covenants, which makes it similar to a special warranty deed.