Nebraska Gift Deed of Mineral Interest with No Warranty
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How to fill out Gift Deed Of Mineral Interest With No Warranty?
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FAQ
The three most common Nebraska deed forms for transferring real estate ownership from its current owner (the grantor) to a new owner (the grantee) are warranty deeds, special warranty deeds, and quitclaim deeds.
Special warranty deeds are generally used when the property's ownership history is unknown to the grantor. For instance, in the administration of a deceased person's estate, the executor may be unaware of past issues with the property and thus would only warrant the title against defects caused by the deceased.
A traditional deed simply transfers the ownership of a property from one party to another (in other words, the seller to the buyer.) Whoever legally holds the deed is the rightful owner of the property. A warranty deed, on the other hand, contains special assurances that the seller makes to the buyer.
A defining feature of a Nebraska quitclaim deed is that it transfers real estate with no warranty of title. It transfers whatever interest the current owner holds in the real estate on the date of the deed. At the same time, the current owner does not promise that these rights are valid or free of defects.
A Nebraska general warranty deed, also referred to as a ?warranty deed,? conveys property ownership to a buyer (grantee) with a promise that the seller (grantor) owns the real estate and that the property title is unencumbered.
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.
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.
Quitclaim Deed A deed used to transfer any interest in real property that the grantor may have. It contains no warranties of any kind.
