Maine Statutory Warranty Deed
Understanding this form
The Statutory Warranty Deed is a legal document used to transfer ownership of real property in a designated state, specifically Maine in this case. This deed provides a guarantee from the seller to the buyer that the property is free from any claims or liens, offering greater security during transactions. Unlike other forms of deeds, such as quitclaim deeds, a warranty deed includes warranties or guarantees regarding the title's quality, making it a preferred choice for buyers who seek assurance in property dealings.
Form components explained
- Identification of the grantor (seller) and grantee (buyer).
- Description of the property being transferred, including its address.
- Details on the type of tenancy (e.g., joint tenancy).
- Warranties regarding the property's title and legal status.
- Signatures of the grantors and witnesses to validate the document.
When to use this form
This form should be used when an individual or entity is transferring real property ownership and seeks to provide a strong guarantee of title to the recipient. Common scenarios include home sales, transfers between family members, or when establishing joint ownership. It is particularly valuable in situations where the buyer wishes to ensure that no unforeseen claims could affect their ownership of the property.
Who needs this form
This form is suitable for:
- Property owners looking to sell or transfer their property.
- Buyers who want assurance of a clear title before purchasing real estate.
- Real estate professionals facilitating property transactions.
How to complete this form
- Identify the grantor and grantee, including full names and addresses.
- Specify the property address and details for the transfer.
- Select the type of tenancy (e.g., joint tenants) as applicable.
- Fill in the date of the transfer.
- Sign the deed in the presence of witnesses, ensuring correct signatures are noted.
Notarization guidance
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, available 24/7.
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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.
Common mistakes
- Failing to provide the complete and accurate property description.
- Not having the deed signed in the presence of required witnesses.
- Leaving out essential information, such as the date or tenant designation.
Advantages of online completion
- Convenient access to download and fill out the form at any time.
- Editability allows for easy correction of information before finalizing.
- Reliability of having a form drafted by licensed attorneys to ensure compliance with legal standards.
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FAQ
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.
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.
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.
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
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.
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 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.
A warranty deed guarantees that: The grantor is the rightful owner of the property and has the legal right to transfer the title. The property is free and clear of all liens and outstanding claims. The title would withstand third-party claims to ownership of the property.
They are (1) covenant for seisin; (2) covenant of the right to convey; (3) covenant against encumbrances; (4) covenant for QUIET ENJOYMENT; (5) covenant of general WARRANTY; and (6) covenant for further assurances.