Massachusetts Royalty Deed with Limited Warranty
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How to fill out Royalty Deed With Limited Warranty?
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FAQ
Quitclaim Deed A deed used to transfer any interest in real property that the grantor may have. It contains no warranties of any kind.
There are three kinds of deeds used for real estate transactions in Massachusetts: warranty deeds, release deeds, and quitclaim deeds. Each offers different types of protection and guarantees against any defects in the title that is being transferred in the transaction.
A Massachusetts quitclaim deed is the most common type of deed for real estate transfers in Massachusetts. Quitclaim deeds transfer property with a partial warranty of title?splitting the risk of unknown title problems between the current owner (the grantor or transferor) and the new owner (the grantee or transferee).
In real estate transactions, the deed is the instrument that transfers ownership of property from one party to another. The quitclaim deed is the most commonly used deed in the purchase and sale of residential property in Massachusetts.
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 Massachusetts deed must be recorded in the registry of deeds that covers the recording district where the property is located. Most recording districts are organized at the county level, so that all real estate in a county is recorded with that county's registry of deeds office.
A deed will include a detailed description of the property, including property lines, and name the seller (grantor) and buyer (grantee). Both buyer and seller must sign a deed to make it official.
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.
