This form is a Special Warranty Deed where the Grantor is an individual and the Grantee is an individual. Grantor conveys and specially warrants the described property to the Grantee. The Grantor only warrants and will defend the property only as to claims of persons claiming by, through or under Grantor, but not otherwise. This deed complies with all state statutory laws.
Maryland Special Warranty Deed - Individual to Individual
Category:
State:
Maryland
Control #:
MD-021-78
Format:
Word;
Rich Text
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FAQ
Special warranty deed -- warrants that the seller did nothing personally during his ownership of the property that would create a defect in the title to the property. This is the type of deed most often used in Maryland.
Special warranties allow the transfer of property title between seller and buyer. The purchase of title insurance can mitigate the risk of prior claims to the special warranty deed.
In order to make the Warranty Deed legally binding, the Seller needs to sign it front of a notary public. Then signed and notarized deed must be filed at the city or county office for recording property documents. Before filing with this office all previously billed property taxes must be paid in full.
To change the names on a real estate deed, you will need to file a new deed with the Division of Land Records in the Circuit Court for the county where the property is located. The clerk will record the new deed.
A warranty deed guarantees that: The grantor is the rightful owner of the property and has the legal right to transfer the title.The title would withstand third-party claims to ownership of the property. The grantor will do anything to ensure the grantee's title to the property.
A statutory warranty deed is different from a warranty deed because it is a shorter form made available through your state's statutes and it may not outright list the promise that the title is guaranteed to be clear. Instead, because it is a statutory form, this guarantee is implied and is still legally enforceable.
Typically, the lender will provide you with a copy of the deed of trust after the closing. The original warranty deeds are often mailed to the grantee after they are recorded. These are your original copies and should be kept in a safe place, such as a fireproof lockbox or a safe deposit box at a financial institution.
A special warranty deed to real estate offers protection to the buyer through the seller's guarantee that the title has been free and clear of encumbrances during their ownership of the property. It does not guarantee clear title beyond their ownership.