Nebraska Mineral Deed with Limited Warranty
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How to fill out Mineral Deed With Limited Warranty?
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FAQ
How to Write a Nebraska Quitclaim Deed Preparers name and address. Name and mailing address of the party to whom the recorded deed should be sent. County where the real property is located. The consideration paid to the grantor (dollar amount should be written in words and numbers) Grantors name and address.
Both deeds contain a promise that the grantor is conveying clear title to the property. But, the difference between the general warranty and limited warranty is the duration of that promise.
A fiduciary deed differs from other types of deeds, such as warranty deeds and quitclaim deeds, in that it does not guarantee the title to the property. Rather, it simply transfers the ownership of the property from the original owner to the new owner.
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.
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.
Warranty deeds are the safer option when buying property versus simply transferring ownership. Most buyers will want this option. If it is discovered that the seller did not have complete ownership of the property, the buyer can sue for breach of warranty.
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 A general warranty deed is the gold standard of property transfers. This type of deed is overwhelmingly used in residential purchases. Most lenders require a warranty deed for properties they finance. It offers buyers the greatest possible protection from future claims against the title.
