A Mississippi Warranty Deed for Surface with Limited Warranty is a legal document that is used to transfer ownership of real property from one party to another in the state of Mississippi. It provides a guarantee to the buyer that the seller has the right to sell the property and that there are no undisclosed liens or encumbrances on the property. The Limited Warranty provided in this type of deed means that the seller only warrants the title against any defects or claims that may have arisen during their ownership of the property. This warranty does not cover any defects or claims that may have existed prior to their ownership. It is important for buyers to thoroughly research the property's history and conduct a title search to ensure there are no existing issues. There can be variations or different types of Mississippi Warranty Deeds for Surface with Limited Warranty, which may include: 1. General Warranty Deed: Provides the broadest level of protection to the buyer, as the seller guarantees there are no defects in the title, both during their ownership and prior to their ownership. 2. Special Warranty Deed: Similar to the General Warranty Deed, but it limits the warranty only to the time frame when the seller held ownership of the property. 3. Quitclaim Deed: Provides the least protection to the buyer, as the seller does not make any warranties or guarantees regarding the title. This type of deed is often used in non-sale situations, such as transferring property between family members or removing a spouse's name from the title during a divorce. When using any type of Mississippi Warranty Deed for Surface with Limited Warranty, it is crucial for both parties to carefully review and understand the terms and conditions stated in the document. It is advisable to consult with a real estate attorney or a qualified professional to ensure all legal requirements are met and that the transfer of ownership is done smoothly and without any future complications.
Mississippi Warranty Deed for Surface with Limited Warranty
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How to fill out Warranty Deed For Surface With Limited Warranty?
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FAQ
In Georgia, a limited warranty deed (also known as a special warranty deed) transfers title in fee simple to the grantee with warranties and covenants of title that are limited only to acts arising by, through, or under the grantor.
A general warranty deed is the most common type of deed used for transferring real estate. It basically promises that: not only does the seller have good and proper title to sell the property, but all the prior owners also had good title, thus making a complete ?chain of ownership?; and.
In summary, a Mississippi warranty deed reserving a life estate offers a flexible tool for estate planning, allowing property owners to pass on their property to chosen beneficiaries while retaining rights to the property during their lifetime. For use in Mississippi only.
Mississippi deeds are recorded with the chancery clerk for the county where the property is located. The standard fee payable to the chancery clerk for recording a Mississippi deed is $25.00 for the initial five pages and $1.00 for each page over five. Some counties charge an extra $1.00 archiving fee.
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.
A warranty deed is the most favorable type of deed as it provides full warranties from the grantor to the grantee. The warranty deed includes the six traditional Covenants for Title or promises and assurances by the grantor to the grantee.
A limited warranty deed transfers legal title to real property. However, this type of deed does not promise clear title; it only guarantees the title for the period during which the grantor owned it. Despite this, it is useful in some situations.
A special warranty deed guarantees two things: The grantor owns, and can sell, the property; and the property incurred no encumbrances during his ownership. A special warranty deed is more limited than the more common general warranty deed, which covers the entire history of the property.
