Keywords: Idaho, Warranty Deed, Surface and Mineral Interests, Multiple Granters Description: The Idaho Warranty Deed for Surface and Mineral Interests with Multiple Granters is a legal document used in Idaho for the transfer of both surface and mineral rights from multiple granters (sellers) to one or more grantees (buyers). This deed ensures that the granters have the legal right and authority to convey the surface and mineral interests to the grantees. There are two main types of Idaho Warranty Deed for Surface and Mineral Interests with Multiple Granters: 1. General Warranty Deed: This type of deed guarantees that the granters have clear title to the property and that there are no encumbrances, liens, or claims against the surface and mineral interests being conveyed. It provides the highest level of protection to the grantees. 2. Limited Warranty Deed: Unlike the general warranty deed, the limited warranty deed only guarantees that the granters have not encumbered the property during their ownership. It does not provide any guarantee against the claims or encumbrances that may have existed before their ownership. This type of deed provides a limited level of protection to the grantees. The Idaho Warranty Deed for Surface and Mineral Interests with Multiple Granters must contain certain essential elements to be considered legally valid. These elements include: 1. Names and addresses of all granters and grantees involved in the transaction. 2. A clear declaration of the intention to transfer both surface and mineral interests. 3. A proper legal description of the property being conveyed, including references to surveys or relevant measurements. 4. A statement confirming that the granters have full authority to sell and transfer the surface and mineral interests. 5. A warranty clause, either general or limited, outlining the extent of the granters' liability and warranties. 6. The signature of all granters with their names typed or printed below each signature, and the signature of a notary public for proper notarization. It is important to consult with a qualified real estate attorney or a title company to ensure that the Idaho Warranty Deed for Surface and Mineral Interests with Multiple Granters is accurately prepared and executed according to the specific requirements of Idaho law.
Idaho Warranty Deed for Surface and Mineral Interests with Multiple Grantors
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FAQ
The fundamental difference is that a Grant Deed ensures the grantor has a legal interest in the property, while a Quitclaim Deed releases only the potential interest one might have in a property without any warranties.
A special warranty deed is a deed to real estate where the seller of the property?known as the grantor?warrants only against anything that occurred during their physical ownership. In other words, the grantor doesn't guarantee against any defects in clear title that existed before they took possession of the property.
A general warranty deed is used to transfer real property from one person to another. This type of deed offers the greatest protection for the buyer and has specific requirements for what must be included in the document.
Key Terms for Warranty Deed vs. Quitclaim Deed. Warranty Deed: Provides a guarantee of clear title and includes specific warranties from the seller. Quitclaim Deed: Makes no guarantees about the status of the title and only transfers the seller's interest in the property.
The Warranty Deed delivers the highest quality of title. In a Warranty Deed, the grantor agrees to warrant and defend the grantee against a defect in title. So long as each successive conveyance is by Warranty Deed, an original grantor may continue to be liable to successors.
Deed of Grant . Means a deed in respect of an ownership unit issued or deemed to have be issued in terms of the Regulations of the Administration and Control of Townships, 1962 (Regulation R. 293 of 1962).
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.
Special warranty deeds go by many names in different states, including covenant deed, grant deed, and limited warranty deed. The guarantee covers only the period when the seller held title to the property with a special warranty deed.