This form is a sample letter in Word format covering the subject matter of the title of the form.
Texas State Bar Form Special Warranty Deed In San Diego
Category:
State:
Multi-State
County:
San Diego
Control #:
US-0001LTR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Your deed needs to be filed with your County Clerk's or Recorder's Office. The special warranty deed will become a matter of public record and will be able to be viewed if a title search is conducted.
The primary risk associated with a Special Warranty Deed lies in its scope of protection. This deed only covers the period the grantor owned the property, meaning the buyer takes on a risk of potential issues arising from before that period, which the grantor is not obliged to address.
Preparation of the Deed: The seller prepares the warranty deed, detailing the grantor's and grantee's information, the legal description of the property, and the statement of conveyance.
Warranty deeds are the safer option when buying property versus simply transferring ownership. Most buyers will want this option. If it is discovered that the seller did not have complete ownership of the property, the buyer can sue for breach of warranty.
To summarize, a Special Warranty Deed states that there were no claims against the property title during the time when the seller or grantor owned it. On the other hand, a General Warranty Deed states that there were no title defects at any point in time.
Yes, while more common in commercial transactions, Special Warranty Deeds can be used in residential transactions as well. However, buyers should be aware of the limited warranty and take appropriate steps to protect their interests.
A special warranty deed is a type of real estate deed used to transfer property ownership from one person to another. By using this particular deed, the seller is guaranteeing to the buyer that there are no defects or problems with the property title during the time that they owned the property.
Cons: Fewer protections for buyers, who are now responsible for addressing any previous liens or claims for the property. Lenders and title companies may refuse to help buyers secure financing or title insurance for a property sold under special warranty.
Special Warranty Deeds are frequently used in commercial real estate transactions and foreclosure sales. In commercial transactions, sellers might prefer this type of deed to limit their liability to issues they directly caused.
