Warranty Deed Vs Grant Deed In Maricopa
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FAQ
No, a warranty deed does not prove ownership. A title search is the best way to prove that a grantor rightfully owns a property. The warranty deed is a legal document that offers the buyer protection. In other words, the property title and warranty deed work in tandem together.
You can record a document in-person, by mail, or electronically. Your document must be an ORIGINAL or government-issued CERTIFIED copy to be accepted for recording.
The “warranty deed” is like a grant deed, except that it contains additional promises. Specifically, a warranty deed expressly warrants the title to the property and the quiet possession of the property the grantee.
Material Defect: This type implies more significant errors like wrong legal descriptions of properties, missing names of grantees, or invalid grantor representation. Breach of Warranty: This type occurs when the property seller or 'grantor' cannot or does not meet the legal assurances provided in the warranty deed.
A warranty deed alone does not prove ownership. It represents the transfer of ownership rights but must be recorded with the county recorder's office to finalize the ownership change.
A grant deed transfers your ownership and implies certain promises—that the title hasn't already been transferred to someone else or been encumbered, except as set out in the deed. This is the most commonly used kind of deed, in most states.
The main difference between a grant deed vs. warranty deed is the level of protection offered. A warranty deed offers a higher level of protection than a grant deed. With a grant deed, the grantor is guaranteeing that they haven't sold the property to anyone else, and that it is clear of any liens or restrictions.
A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.
You might come across four deed types in your real estate career: primary deeds, Arizona deeds, Judicial Deeds, and Special Purpose Deeds. Read our quick guide to the most commonly used deeds in Arizona so you can head into real estate transactions with confidence.
The fundamental difference is that a Grant Deed ensures the grantor has a legal interest in the property, while a Quitclaim Deed releases only the potential interest one might have in a property without any warranties.
