Warranty Deed Vs Deed In Suffolk
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FAQ
All warranty deeds must include the date of the transaction, the name of the parties involved, a legal description of the property being transferred, a list of title defects and the signatures of the buyers. To make it legally binding, warranty deeds must be signed in the presence of a notary public.
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.
Deeds should be recorded in the Office of the County Clerk of the county in which the real property being transferred is located. When recording a deed, it is your responsibility to take the proper steps to ensure that the document meets the legal requirements for recording.
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.
Most current deeds fall into one of four categories: 1) General Warranty, 2) Special Warranty, 3) Quit Claim deed, and 4) Bargain and Sale deed. General Warranty Deed — The General Warranty deed is often referred to simply as a warranty deed.
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.
Once you obtain the correct form, you must fill it in completely. Both the grantor and the grantee must sign it, usually in the presence of a notary. Then the deed must be filed in the county registrar's office to be legally enforceable.
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.
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.
No, the warranty deed alone does not prove ownership. Ownership is confirmed once the deed is recorded with the county recorder's office, making it part of the public record.
