Texas State Bar Form Special Warranty Deed In Utah
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FAQ
The main difference between these deeds is that general warranty deeds apply to the entire history of a piece of land while special warranty deeds only cover the period of time that the previous owner (the grantor) has held the land.
A special warranty deed guarantees that the grantor owns and can sell the property. To the best of their knowledge, they are the owner of the property.
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.
What Are The Dangers Of A Special Warranty Deed? Property debts are tied to the property's title, so buyers agreeing to a special warranty deed assume all responsibility for any liens or claims against the property that may have existed prior to the seller's ownership.
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.
Special Warranty Deeds are commonly used when property owners are divorcing or are divorced. Since the parties both own the property, it is acceptable to use a Special Warranty Deed when one owner transfers his or her interest in the property to the other owner.
The purpose of the Special Warranty Deed form is to facilitate the legal transfer of property ownership in Utah. It ensures that the grantee receives the property with warranties that protect against claims made by the grantor.
The Differences Between Specialty vs. As you can see, a general warranty deed is most commonly used when the sale and closing process should be seamless. Special warranty deeds are used for more special circumstances like if you are buying a foreclosed property, a REO property, a short sale, etc.
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.
