This form is a Special Warranty Deed where the grantor is a corporation and the grantee is a corporation. Grantor conveys and specially warrants the described property to the grantee. The grantor only warrant and will defend the property only as to claims of persons claiming by, through or under grantor, but not otherwise. This deed complies with all state statutory laws.
Pennsylvania Special Warranty Deed - Corporation to Corporation
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State:
Pennsylvania
Control #:
PA-033-78
Format:
Word;
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FAQ
In order to make the Warranty Deed legally binding, the Seller needs to sign it front of a notary public. Then signed and notarized deed must be filed at the city or county office for recording property documents. Before filing with this office all previously billed property taxes must be paid in full.
It will not protect against title issues that arose prior to the time the seller took occupancy. Consequently, it offers less protection to buyers, and more protection to sellers, than a general warranty deed, which is the most common option for selling or buying a property.
A: A "special warranty" deed is the type of deed used most frequently in Pennsylvania real estate sales. It essentially represents that the seller did nothing to weaken the status of title from the time that he/she received it.A "quit-claim" deed is a deed that contains no warranties at all.
To transfer property in Pennsylvania, you'll need to prepare and execute a deed and record it in the county where the property is located. If the transfer was in exchange for money, you'll have to pay transfer tax.
A special warranty deed is a deed to real estate where the seller of the propertyknown as the grantorwarrants 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.
A special warranty deed to real estate offers protection to the buyer through the seller's guarantee that the title has been free and clear of encumbrances during their ownership of the property. It does not guarantee clear title beyond their ownership.
Typically, the lender will provide you with a copy of the deed of trust after the closing. The original warranty deeds are often mailed to the grantee after they are recorded. These are your original copies and should be kept in a safe place, such as a fireproof lockbox or a safe deposit box at a financial institution.
A warranty deed can be revoked. In most situations, the person signing the deed needs the cooperation of the person who received the deed to revoke it. If the deed was prepared to transfer property between family members or close friends, this might not be a problem.
A warranty deed guarantees that: The grantor is the rightful owner of the property and has the legal right to transfer the title.The title would withstand third-party claims to ownership of the property. The grantor will do anything to ensure the grantee's title to the property.