This is a Warranty Deed where the Grantors are husband and wife and the Grantee is a trust. Grantors convey and warrant the described property to trustee of the trust, less and except all oil, gas and minerals, on and under the property owned by Grantors, if any, which are reserved by Grantor. This deed complies with all state statutory laws.
Alabama Warranty Deed from Husband and Wife to a Trust
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State:
Alabama
Control #:
AL-015-78
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Word;
PDF;
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FAQ
The mortgage company usually prepares this deed as part of the loan package and delivers it to the title company for you to sign at closing. The title company is commonly the trustee to the deed and holds legal title to the property until the loan gets fully repaid.
Locate your current deed. Use the proper deed. Check with your title insurance company and lender. Prepare a new deed. Sign in the presence of a notary. Record the deed in the county clerk's office. Locate the deed that's in trust. Use the proper deed.
A trustee deed offers no such warranties about the title.
The Alabama warranty deed is a form of deed that provides an unlimited warranty of title. It makes an absolute guarantee that the current owner has good title to the property. The warranty is not limited to the time that the current owner owned the property.
While the seller in a Warranty Deed must defend the title against all other claims and compensate the buyer for any unsettled debts or damages, the seller in a Special Warranty Deed is only responsible for debts and problems accrued or caused during his ownership of the property.
The Alabama statutory warranty deed form provides a limited warranty of title. With a statutory warranty deed, the person transferring the property guarantees that he or she has done nothing that would cause title problems, but makes no guarantees about what might have happened before he or she acquired the property.
A statutory warranty deed is a legal document used to transfer real property.This type of deed guarantees that the grantor holds full and clear title to the property and will compensate the buyer should any claims emerge against the title in the future.
A warranty deed protects property owners from future claims that someone else actually owns a portion (or all) of their property, while trustee deeds protect lenders when borrowers default on their mortgage loans.
If you own property jointly with someone else, and this ownership includes the "right of survivorship," then the surviving owner automatically owns the property when the other owner dies.In Alabama, this form of joint ownership is available: Joint tenancy.