Maryland Royalty Deed with Limited Warranty
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How to fill out Royalty Deed With Limited Warranty?
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FAQ
A special warranty deed is more limited than the more common general warranty deed, which covers the entire history of the property. Both general warranty deeds and special warranty deeds provide the same general protections for the buyer.
If you wish to change your name or remove a name on your property record, due to marriage, divorce, death of an owner, etc., a new deed must be filed with the local Land Records office where the property is located. You can not change a deed to a property through the Assessment office.
A Maryland special warranty deed is another legal document that conveys real property, also known as real estate, from a seller to a buyer. Similar to a warranty deed, it provides a guarantee running from the seller to the buyer. However, unlike a warranty deed, it provides a limited guarantee only.
Cons: Fewer protections for buyers, who are now responsible for addressing any previous liens or claims for the property. Lenders and title companies may refuse to help buyers secure financing or title insurance for a property sold under special warranty.
While the seller in a Warranty Deed must defend the title against all other claims and compensate the buyer for any unsettled debts or damages, the seller in a Special Warranty Deed is only responsible for debts and problems accrued or caused during his ownership of the property.
Any covenant, limitation, restriction, or provision can be annexed to or introduced with any of the statutory forms ( 4-201). A special warranty deed in Maryland should contain the grantor's original signature, which must also be acknowledged. Maryland does not require witnesses for special warranty deeds.
