Kentucky Mineral Deed with Limited Warranty
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How to fill out Mineral Deed With Limited Warranty?
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FAQ
In Kentucky, real estate can be transferred via a TOD deed, also known as a beneficiary deed. This deed permits a property owner to designate a beneficiary who will automatically inherit the property upon the owner's death, avoiding probate.
However, preparation of deeds and mortgages constitutes the practice of law and must be prepared by an attorney.
Law shall not prevent a person (not holding himself out as a practicing attorney) from writing a deed, mortgage, or will.
A Kentucky general warranty deed transfers a property title and gives the grantee (recipient/buyer) the guarantee that said title is free from encumbrances. Encumbrances are liens, mortgages, or other claims on real estate which cloud the title and can prevent the buyer from receiving financing.
A Kentucky general warranty deed transfers a property title and gives the grantee (recipient/buyer) the guarantee that said title is free from encumbrances. Encumbrances are liens, mortgages, or other claims on real estate which cloud the title and can prevent the buyer from receiving financing.
A traditional deed simply transfers the ownership of a property from one party to another (in other words, the seller to the buyer.) Whoever legally holds the deed is the rightful owner of the property. A warranty deed, on the other hand, contains special assurances that the seller makes to the buyer.
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.
Special warranty deed. In a special warranty deed, the grantor only promises that no claims have made been against the property during the period of their ownership, and makes no guarantee about any time period before that. This is also sometimes called a limited warranty deed.
