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A special warranty deed is a type of real estate deed used to transfer property ownership from one person to another. By using this particular deed, the seller is guaranteeing to the buyer that there are no defects or problems with the property title during the time that they owned the property.
To complete the transfer, the deed must be recorded in the office of the Register of Deeds of the county where the property is located. All deeds also require a Form 521 - Real Estate Transfer Statement.
General Warranty Deed With this type of deed, the grantor (seller) is certifying to grantee (buyer) that he will defend the title against allegations of defect even those defects allegedly present before the grantor (seller) owned the property.
Which of the following is TRUE regarding a special warranty deed? The grantor's warranties are limited to the time the grantor owned the property.
A special warranty deed is a deed to real estate where the seller of the property?known as the grantor?warrants only against anything that occurred during their physical ownership. In other words, the grantor doesn't guarantee against any defects in clear title that existed before they took possession of the property.
The grantor is generally bound by several covenants, including: The covenant of seizin?the grantor warrants that they own the property and has a legal right to convey it. The covenant against encumbrances?the grantor warrants that the property is free of liens or encumbrances.
Special Warranty Deed. Grantor warrants against any defects in title that evolved during his ownership, but nothing else. Quitclaim Deed.
The guarantees of a general warranty deed are known as covenants. Traditionally, there are six covenants of title which can be divided into present covenants and future covenants.