Maine Warranty Deed for Surface and Mineral Interests
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How to fill out Warranty Deed For Surface And Mineral Interests?
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FAQ
A warranty deed or quit claim deed TRANSFERS TITLE or OWNERSHIP of real property. When you purchase property, you usually receive a warranty deed from the seller to you to show that you now own the property.
(In re Marriage of Wozniak (2020) 59 Cal. App. 5th 120, 133.) To be valid, a deed must be: (1) in writing; (2) name the grantor or the grantor's agent; (3) signed by the grantor or their agent; and (4) delivered and accepted by the grantee.
Most current deeds fall into one of four categories: 1) General Warranty, 2) Special Warranty, 3) Quit Claim deed, and 4) Bargain and Sale deed. General Warranty Deed ? The General Warranty deed is often referred to simply as a warranty deed.
General Warranty Deed ? The General Warranty deed is often referred to simply as a warranty deed. It is a deed conveying title where the seller (grantor) makes six covenants or promises to the buyer (grantee) as part of the conveyance.
A deed is the actual legal document that would transfer the ownership (title) of a property from one person to another. A deed is signed by the person selling or transferring the property rights, called the grantor. The person purchasing or taking possession of the property rights is called the grantee.
A quitclaim deed, on the other hand, is a type of legal document that transfers whatever ownership interest the seller has in the property to the buyer. Unlike a warranty deed, a quitclaim deed provides no guarantees or promises regarding the seller's ownership or the property's title.
What Is the Strongest Type of Deed? For real estate buyers, a general warranty deed provides greater protection than any other type of deed. While it's the best deed for the grantee, it gives the grantor the most liability.
The four types of deeds we see most often are the general warranty deed, the special warranty deed, the quitclaim deed, and the ladybird deed. Each of these deeds have a diverse range of conveyance, and depending on your objectives, you will want to narrow it down to the one that matches your goals.