Minnesota Warranty Deed for Surface with Limited Warranty is a legal document that establishes the transfer of property ownership rights in Minnesota, specifically for surface rights. This deed provides the buyer with limited guarantees or warranties regarding the title and condition of the property being transferred. It ensures that the seller holds the legal authority and ownership to sell the surface rights and that no encumbrances or claims exist which could affect the buyer's ownership interest. In Minnesota, there are a few variations of the Warranty Deed for Surface with Limited Warranty, including: 1. Statutory Warranty Deed for Surface with Limited Warranty: This type of Warranty Deed is commonly used in Minnesota and offers basic assurances to the buyer. It guarantees that the seller has the right to transfer the surface rights and that the property is free from any undisclosed defects, liens, or claims. 2. Bargain and Sale Deed with Limited Warranty: This variation of the Warranty Deed provides a limited warranty and is often used in Minnesota for commercial transactions. It assures the buyer that the seller has the right to sell the property and that it is free from any defects created by the seller, but it does not provide guarantees against defects originating from previous owners or claimants. 3. Quitclaim Deed with Limited Warranty: This type of Warranty Deed is less common in Minnesota and is typically used when the seller wants to transfer their interest in the property without making any guarantees or warranties to the buyer. It provides a limited warranty that the seller has not encumbered the property during their ownership. The Minnesota Warranty Deed for Surface with Limited Warranty ensures a level of protection for both the buyer and seller during the transfer of property ownership. It is crucial for both parties to consult with a legal professional and conduct a title search to ensure that the property is free from any undisclosed defects, liens, or claims before finalizing the transaction.
Minnesota Warranty Deed for Surface with Limited Warranty
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Relates to the past and guarantees grantor ownership. The deed that offers a limited number of warranties is a. general warranty deed.
The quitclaim deed, also called a non-warranty deed, offers the grantee the least amount of protection. This type of deed conveys whatever interest the grantor currently has in the property?if any.
A special warranty deed or limited warranty deed only guarantees that no title problems occurred during the time the seller has owned the property. That means the previous owner can't be held accountable for creditors' liens or other issues that occurred before they took possession of the home.
The grantor of a Minnesota Limited Warranty Deed covenants that the grantor did not do anything to adversely affect the title to real property, but does not covenant that there are no unresolved title issues originating prior to the ownership of the real property by the grantor.
Also called a non-warranty deed, a quitclaim deed conveys whatever interest the grantor currently has in the property if any. The grantor only "remises, releases, and quitclaims" their interest in the property to the grantee. There are no warranties or promises regarding the quality of the title.
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.
Special warranty deed. In a special warranty deed, the grantor only promises that no claims have made been against the property during the period of their ownership, and makes no guarantee about any time period before that. This is also sometimes called a limited warranty deed.
A special warranty deed?also known as a limited warranty deed?is a variation of the general warranty deed. While the word "special" may communicate to a buyer the idea that the deed is of higher quality, the special warranty deed is less comprehensive. It offers less protection due to the limited timeframe it covers.
