Ohio Warranty Deed for Surface and Mineral Interests with Multiple Grantors
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How to fill out Warranty Deed For Surface And Mineral Interests With Multiple Grantors?
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FAQ
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.
Hear this out loud PauseWhen properly executed, delivered and accepted, a deed transfers title to real property from one person (the grantor) to another person (the grantee). Transfer may be voluntary, or involuntary by act of law, such as a foreclosure sale.
The grantor offers six specific warranties to the grantee that are not offered by any other deed. The seller offers the greatest level of buyer protection with a general warranty deed through six specific warranties. The seller promises that he/she owns the property and has the legal right to sell it.
Hear this out loud PauseQuitclaim Deed This deed conveys to the grantee only that which the grantor has in the property at the time of the conveyance, which could be nothing at all. There are no covenants or warranties by the grantor and this deed offers the lowest amount of protection to the grantee.
Hear this out loud PauseWhich type of deed merely implies but does NOT specifically warrant that the grantor holds good title to the property? Bargain and sale. By giving a bargain and sale deed, the grantor implies ownership and possession of the property, but there are no express warranties against encumbrances.
A quitclaim deed conveys whatever interest the grantor has in the property, as distinguished from a grant of the fee or other estate with warranty of title. The grantee takes the title "as is." A quitclaim deed is sometimes called a release deed.
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.
Hear this out loud PauseQuitclaim definition: A quitclaim deed is a legal document that lets an owner (grantor) transfer their ownership interest in a piece of property to a recipient (grantee), but offers no guarantee of ownership.