Maine Warranty Deed
What this document covers
A Warranty Deed is a legal document used to transfer ownership of real property from one party to another while guaranteeing that the property is free of any claims or liens. It conveys title to two individuals as joint tenants with rights of survivorship, meaning that if one tenant passes away, the surviving tenant automatically inherits the full ownership of the property. This form is different from other types of deeds, such as quitclaim deeds, as it provides a higher level of protection to the grantees by including warranty covenants that ensure the grantor's title is valid.
Form components explained
- Identification of the grantor and grantees.
- Property description including location details.
- Statement of joint tenancy with rights of survivorship.
- Warranty covenants regarding the title of the property.
- Space for signatures of the grantor and notary public.
Common use cases
This form should be used when transferring property ownership between two individuals who wish to hold the property as joint tenants with rights of survivorship. A Warranty Deed is typically employed in situations where the grantor wants to ensure that the grantees will inherit the property directly upon their death, without the involvement of probate. This form may be beneficial in marriages, partnerships, or family agreements where shared ownership is desired.
Who can use this document
- Individuals looking to transfer property to a spouse, partner, or family member.
- Anyone seeking to establish joint tenancy with rights of survivorship.
- Property owners wanting to guarantee the title of the property to the new owners.
How to prepare this document
- Identify the grantor (the person transferring the property) and the grantees (the individuals receiving the property).
- Provide a detailed description of the property being conveyed, including its location.
- Specify that the property is being transferred as joint tenants with rights of survivorship.
- Sign the document in the presence of a notary public to validate the deed.
- Ensure that the notary public also provides their signature and seal, completing the legal requirements.
Is notarization required?
Yes, this form must be notarized to be legally valid. You can utilize US Legal Forms' integrated online notarization feature, which is available 24/7 and allows you to complete the notarization process through a secure video call, ensuring convenience and legal equivalence without the need for travel.
Get your form ready online
Our built-in tools help you complete, sign, share, and store your documents in one place.
Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Avoid these common issues
- Failing to provide a complete and accurate property description.
- Not specifying the joint tenancy clearly, which may lead to ownership disputes.
- Overlooking the need for notarization, which can invalidate the deed.
Why use this form online
- Convenience of completing the form at your own pace from any location.
- Easy editing and customization to suit your specific needs.
- Access to forms drafted by licensed attorneys for reliability and legal compliance.
Looking for another form?
Form popularity
FAQ
Let's start with the definition of a deed: DEED: A written instrument by which one party, the Grantor, conveys the title of ownership in property to another party, the Grantee. A Warranty Deed contains promises, called covenants, that the Grantor makes to the Grantee.
A warranty deed is a higher level of protection produced by the seller upon the real estate closing. It includes a full legal description of the property, and confirms the title is clear and free from all liens, encumbrances, or title defects. Most property sales make use of a warranty deed.Our title agents can help.
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.
After your Warranty Deed has been recorded at the County Clerk's Office, it can be sent to the grantee. However, any person or corporation can be designated as the recipient of the recorded Warranty Deed.
A general warranty deed covers the property's entire history.With a special warranty deed, the guarantee covers only the period when the seller held title to the property. Special warranty deeds do not protect against any mistakes in a free-and-clear title that may exist before the seller's ownership.
It's important to note that a warranty deed does not actually prove the grantor has ownership (a title search is the best way to prove that), but it is a promise by the grantor that they are transferring ownership and if it turns out they don't actually own the property, the grantor will be responsible for compensating
The mortgage company usually prepares this deed as part of the loan package and delivers it to the title company for you to sign at closing. The title company is commonly the trustee to the deed and holds legal title to the property until the loan gets fully repaid.
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.
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.
