This is an official Washington form for use in land transactions, a Bargain and Sale Deed (with representative acknowledgment).
Definition Of Bargain And Sale Deed
Category:
State:
Washington
Control #:
WA-1026-08
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Word;
PDF;
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How to fill out Washington Bargain And Sale Deed - With Representative Acknowledgment?
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FAQ
Bargain & Sale Deed. A deed used to convey title to real property, which may or may not include warranties; if any, they are generally limited to an assertion by the grantor that he has possession of the property.
In essence, a quitclaim deed says, ?I transfer all of my rights in this property to you, but I don't guarantee that I have any rights in this property." Quitclaim deeds are commonly used to transfer property between family members or into or out of a trust, or to correct a problem with the document itself such as the ...
Commercial lenders prefer warranty deeds because they guarantee that a property will be free from encumbrances such as title defects, tax liens from a prior owner, or unknown easements from other properties. Bargain and sale deeds do not offer these guarantees.
A bargain and sale deed indicates that only the seller of a property holds the title and has the right to transfer ownership. This type of deed offers no guarantees for the buyer against liens or other claims to the property, so the buyer could be responsible for these issues if they turn up.
Bargain sale is a voluntary transfer of some interest in real property for less than the market value of that interest.