Warranty Deed Vs Deed In Palm Beach
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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.
General Warranty Deed — A Warranty Deed is the most common type of deed used in Florida real estate transactions.
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.
Cons of Manufacturer Warranties Limited Coverage Scope: Manufacturer warranties often have limitations on the specific components or issues they cover. Certain parts or conditions may be excluded from the warranty coverage, requiring you to review the warranty terms and conditions carefully.
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.
A traditional deed simply transfers the ownership of a property from one party to another (in other words, the seller to the buyer.) Whoever legally holds the deed is the rightful owner of the property. A warranty deed, on the other hand, contains special assurances that the seller makes to the buyer.
The buyer, or grantee, of a property benefits the most from obtaining a warranty deed. Through the recording of a warranty deed, the seller is providing assurances to the buyer should anything unexpected happen.
