The Colorado Granting Clause is an essential component of a real estate deed that specifies the extent of ownership being transferred from one party to another. It is a legal provision that ensures that the granter (person transferring the property) has the legal right to transfer the property and guarantees the grantee (person receiving the property) full ownership and protection against any claims. The primary purpose of the Colorado Granting Clause is to provide a clear and comprehensive description of the rights and interests being conveyed in the property. It typically contains relevant keywords such as "Grant, Bargain, and Sell" to establish the intent of the transfer, ensuring that the granter is transferring the property with clear and unencumbered title. There are two major types of Colorado Granting Clauses used in real estate deeds, each serving a different purpose: 1. General Warranty Deed Granting Clause: This type of Granting Clause provides the highest level of protection for the grantee. It assures the grantee that the granter holds complete and marketable title to the property, free from any encumbrances or disputes. The relevant keywords typically found in this clause include "Warrants," "Defends," and "Forever." 2. Special Warranty Deed Granting Clause: In this type of Granting Clause, the granter offers limited assurances regarding the property title. The clause warrants that the granter has not done anything to impair the title during their ownership, but it does not guarantee against defects or claims that may have existed prior to their ownership. The relevant keywords often found in this clause include "Warrants," "Defends," and "During my ownership." Regardless of the type of Granting Clause used, it is crucial for both parties involved in a real estate transaction to understand its implications. The grantee should carefully review the Granting Clause to ensure they are receiving the intended ownership rights and protection, while the granter must ensure they have legal rights and authority to make the transfer. In summary, the Colorado Granting Clause is a vital element in a real estate deed, guaranteeing the grantee full ownership and protection against claims. It establishes the intent of the transfer and can be either a General Warranty Deed Granting Clause or a Special Warranty Deed Granting Clause, depending on the level of assurances provided by the granter.
Colorado Granting Clause
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FAQ
A grant deed, also known in many states as a limited warranty deed or a special warranty deed, gives the grantee some, but not all, of the assurances of a general warranty deed.
In short, the distinction between the two forms of ?warranty? deeds is that in a general warranty deed, the seller warrants against anything any owner of the property ever did to encumber title and in a special warranty deed the seller only warrants against anything the seller did to encumber title.
Gift Deed ? A gift deed is a special type of grant deed that ?gifts? ownership of real property interest to another person or entity. This deed is different from a standard grant deed because it specifically designates that the transfer was not subject to a sale, and the grantor received no monetary compensation.
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.
A deed is evidence of a specific event of transferring the title of the property from one person to another. A title is the legal right to use and modify the property how you see fit, or transfer interest or any portion that you own to others via a deed.
A grant deed makes two guarantees: that the property has not been sold to someone else and no liens or encumbrances exist against the property. In Colorado, a general or special warranty deed is used instead of a grant deed, because they offer more protection to the grantor.
5 Common Types of Deeds 1) Warranty Deed. A warranty deed gives the grantee the most protections under the law, because it guarantees the warranty of title and against encumbrances. 2) Special Warranty Deeds. ... 3) Bargain and Sale Deeds. ... 4) Quitclaim Deeds. ... 5) Beneficiary Deeds.
Transfer property in Colorado quickly and easily using this simple legal form. You can use a quitclaim deed to: transfer property to or from a revocable living trust. transfer property to one spouse as part of a divorce.