Warranty Deed Vs Grant Deed In Pennsylvania
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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.
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.
The Bottom Line: Warranty Deeds Can Help Protect Your Title A warranty deed will give you the highest form of protection over your property. It's best used when you don't know the person you're buying the home from or if you want to finance a mortgage or title insurance.
In cases where there's a conflict between a will and a deed, the deed usually takes precedence, as it directly impacts the title of the property.
The General Warranty Deed In these, the grantor makes several promises to defend against general claims against the property. This means that if someone claims to have superior rights to the grantor, the grantor will be legally bound to fight these claims.
Types of Property Deeds in Pennsylvania The most common types of deeds include general warranty deeds, special warranty deeds, and quitclaim deeds. A general warranty deed provides the highest level of protection for the buyer.
A grant deed, also known as a limited warranty deed or special warranty deed, is a legal document that transfers real estate ownership from a seller to a buyer. This special deed only “grants” the following promises to the buyer: The property has not been sold or transferred to anyone else.
While a general warranty deed promises that the property has no outstanding mortgages, debts, liens, or encumbrances on the property now and from all previous owners of the property, a special warranty deed only promises this to be true during the period the grantor owned the property.
A Pennsylvania property deed must contain the current owner (the grantor), the new owner (the grantee), a legal description of the property, and the signature of the grantor before the transfer. But there are also less common ways to use property, which require several different types of property deeds.
