Description: A District of Columbia Mineral Deed with Limited Warranty is a legal document that transfers ownership rights of mineral interests in the District of Columbia from one party to another. This type of deed provides a limited warranty, meaning the granter (person or entity transferring the mineral interests) guarantees that they own the mineral rights being transferred, but does not warrant any defects in the title beyond their ownership. The District of Columbia Mineral Deed with Limited Warranty is typically used when a property owner wants to sell or convey their mineral rights to another party, such as a mining company or a developer. By using this deed, the granter ensures that they have the legal authority to transfer the mineral interests but does not assume liability for any title issues that may arise before their ownership. It's important to note that the District of Columbia Mineral Deed with Limited Warranty only applies to the mineral interests and not to any surface rights or other rights associated with the property. It specifically deals with the rights to explore, extract, and profit from minerals in the designated land parcel. Different types of District of Columbia Mineral Deed with Limited Warranty could include variations based on specific conditions or agreed-upon terms between the parties involved. For example, there could be variations that address the specific minerals being conveyed, the duration of the limited warranty, or any special provisions agreed upon by both parties. To ensure a valid and legal transfer of mineral rights, it is recommended to consult with a qualified attorney or legal professional familiar with District of Columbia real estate law and mineral rights regulations. This will ensure that the District of Columbia Mineral Deed with Limited Warranty accurately reflects the intentions of both parties and complies with all necessary legal requirements.
District of Columbia Mineral Deed with Limited Warranty
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FAQ
A special warranty deed or limited warranty deed only guarantees that no title problems occurred during the time the seller has owned the property. That means the previous owner can't be held accountable for creditors' liens or other issues that occurred before they took possession of the home.
General Warranty Deed A general warranty deed is the gold standard of property transfers. This type of deed is overwhelmingly used in residential purchases. Most lenders require a warranty deed for properties they finance. It offers buyers the greatest possible protection from future claims against the title.
Cons: Fewer protections for buyers, who are now responsible for addressing any previous liens or claims for the property. Lenders and title companies may refuse to help buyers secure financing or title insurance for a property sold under special warranty.
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.
The fee to prepare a Property Deed for you is $195. Your deed will be prepared by a Texas licensed attorney in about an hour. This fee does not include the county recording fee. The county recording fee is approximately $15 to $40, depending on the county the property is located in.
A special warranty deed?also known as a limited warranty deed?is a variation of the general warranty deed. While the word "special" may communicate to a buyer the idea that the deed is of higher quality, the special warranty deed is less comprehensive. It offers less protection due to the limited timeframe it covers.
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 warranty deed's warranty covers the property's entire history, while a limited warranty deed's warranty covers only the period during which the grantor owned the real estate.
