The Arkansas Granting Clause is a legal provision that forms the foundation of property rights in real estate transactions within the state of Arkansas. This clause specifies the extent and nature of the interest being conveyed by the granter to the grantee. It defines the rights, privileges, and limitations associated with the property being transferred, ensuring clarity and establishing the scope of ownership. Under Arkansas law, there are different types of Granting Clauses that can be included in a deed, each providing a different level of property rights. These variations include: 1. General Warranty Deed: This type of Granting Clause assures the grantee that the granter holds full and clear title to the property and guarantees defense against any claims arising from prior ownership or encumbrances. 2. Special Warranty Deed: This Granting Clause guarantees that the granter has not caused any encumbrances on the property during their ownership, but it does not extend protection against claims from prior owners. 3. Quitclaim Deed: This type of Granting Clause does not provide any warranty or guarantee regarding the property's title. It simply transfers the granter's ownership interest, if any, to the grantee. It is commonly used in situations such as transfers between family members or in divorce proceedings. 4. Bargain and Sale Deed: This Granting Clause implies a warranty against the granter's acts only, meaning that it ensures the granter has not encumbered or transferred the property during their ownership, but it provides no protections against claims from previous owners. Regardless of the type of Granting Clause used, it is essential for both parties involved in a real estate transaction to carefully review and understand its implications. Granting Clauses provide crucial legal protection and define the rights and boundaries of property ownership in the state of Arkansas.
Arkansas Granting Clause
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Statute: Arkansas Code § 18-12-209. Signing Requirements: Arkansas Code § 18-12-104: Arkansas quitclaim deeds require the grantor to sign in front of a notary public and two (2) disinterested witnesses with no claim in the transaction.
18-12-102. Transfer by deed -- Warranty. (a) All lands, tenements, and hereditaments may be aliened and possession thereof transferred by deed without livery of seizin.
A grant deed, also known as a special or limited warranty deed, is a legal document used to transfer real estate between a previous owner (the grantor) and a new owner (the grantee). A grant deed warrants that: The grantor has not transferred the property to anyone else.
In most cases, an Arkansas Quitclaim Deed costs $300 to prepare, and $15 for the first page and $5 for each additional page in recording costs. For a typical quitclaim deed, the total cost is $320 (a $300 lawyer fee and $20 in recording fees). Your deed will be prepared and recorded by a licensed Arkansas attorney.
QUITCLAIM DEED ? The Quick Easy Solution All a Quitclaim Deed does is transfer the exact same rights the owner has at that specific time. If there are outstanding claims against the property, the buyer will be subject to all of the claims.
A warranty deed makes a promise to the buyer that the seller has good title to the property. A quitclaim deed, on the other hand, makes no promises. A quitclaim deed just says; whatever interest I have in this property, I give to you.
In Arkansas, there are a number of different situations in which real property is transferred from one person to another, but they each have one thing in common ? a deed. A deed is the legal document which officially transfers ownership of a piece of property. Without a deed, there cannot be an actual transfer.
An Arkansas quitclaim deed has the same capacity to transfer title to real estate as Arkansas' other deed forms. However?because a quitclaim deed has no covenants or warranty of title?the transferor does not promise that the transferee will actually receive good, clear title to the property.