Warranty Deed Vs Grant Deed In Ohio
Description
Form popularity
FAQ
You can sell as a warranty deed... but this means you are warranting clean title and the buyer can come back to you, you should only provide a warranty deed if there's a title company/title insurance being purchased.
A general warranty deed protects the grantee against title defects arising at any point in time, extending back to the property's origins. Please also see the Franklin County Deeds tab of this guide for information about the County Auditor and Recorder's Offices and their role in transfer and recording of real estate.
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.
Special Warranty Deed Risks: The limited protection may expose buyers to title issues that arose before the seller's ownership period. This can be risky, especially for older properties or those with a complicated title history.
A warranty deed offers the strongest protection. It protects the party receiving the property title in case there turns out to be any issues with the title. In a worst-case scenario, the buyer can sue the seller if they find out that the property had any liens or claims against it.
General warranty deeds give the grantee the most legal protection, while special warranty deeds give the grantee more limited protection. A quitclaim deed gives the grantee the least protection under the law.
What is a General Warranty Deed? This is most likely the type you are looking for. It gives the most protection to the buyer, as well as guarantees that the property is owned outright by the seller.
A Warranty Deed holds a pivotal position in real estate transactions. The Warranty Deed is the “gold standard” in real estate conveyance, and conveys property from a seller (grantor) to the buyer (grantee).
The most common deed form in Ohio is the warranty deed. Warranty deeds provide a form of protection to the buyer in the form of a warranty by the seller that guarantees no issues with the title.
