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General Warranty Deed It offers the highest level of protection to the buyer because it guarantees that there are absolutely no problems with the home ? even dating back to prior property owners. This quality of coverage is why most lenders will require you to get a general warranty deed when buying your house.
Special warranty deeds may be in the following form: _____, Grantor, conveys and specially warrants to _____, Grantee, the following described real property free of encumbrances created or suffered by the grantor except as specifically set forth herein: (Describe the property conveyed.)
General warranty deeds give the grantee the most protection, special warranty deeds give the grantee more limited protection, and a quitclaim deed gives the grantee the least protection under the law.
Oregon law recognizes the following statutory deed forms: Warranty Deeds. An Oregon warranty deed form offers the strongest warranty of title. 4. The current owner?the grantor?guarantees the property's title is subject to no undisclosed defects.
What Is the Strongest Type of Deed? For real estate buyers, a general warranty deed provides greater protection than any other type of deed. While it's the best deed for the grantee, it gives the grantor the most liability.
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.
General Warranty Deed The majority of transactions call for general warranty deeds because the buyer will want assurances that he or she is getting good and proper title to the property.
In Oregon, a lawful warranty deed includes the grantor's full name, mailing address, and marital status; the true consideration paid for the transfer (ORS 93.030); and the grantee's full name, mailing address, marital status, and vesting.