Louisiana Royalty Deed with Limited Warranty
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FAQ
A Louisiana general warranty deed is used to transfer property in Louisiana from one person (the seller) to another (the buyer). The warranty deed guarantees that the property is free from any other claims or interests against the title.
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.
A warranty of title is a guarantee by a seller to a buyer that the seller has the right to transfer ownership and no one else has rights to the property. In addition, a warranty of title may be used to guarantee that no other party has copyright, patent or trademark rights in the property being transferred.
What's Covered In A General Warranty Deed? Covenant of Seisin. Guarantees the grantor has legal possession of the property. Covenant of Right To Convey. Guarantees that the grantor has the right to sell the property. Covenant Against Encumbrances.
Mineral rights deeds are not the same as royalty deeds. Royalty deeds do not allow for surface access, or for the initiation of the extraction and sale of minerals. A royalty owner will only benefit economically if the mineral owner decides to produce and sell the minerals.
Under a general warranty deed, the vendor swears that they are the rightful property owner, that the title is free of encumbrances, and that if unforeseen encumbrances come to light after the deed's execution, they will defend the vendee against said claims.
A quit claim deed does not contain any warranty of title, so the grantor in a quit claim deed makes no promises as to the quality of the grantor's title to the property, or even that that the grantor has any title to the property.
