South Carolina Warranty Deed from Individual to Individual
Definition and meaning
A South Carolina Warranty Deed from Individual to Individual is a legal document used to transfer property ownership between two individuals in the state of South Carolina. This deed guarantees that the Grantor (the person transferring the property) possesses clear title to the property and has the right to convey it. The Warranty Deed protects the Grantee (the person receiving the property) against any future claims or challenges to the title of the property.
Who should use this form
This form is suitable for anyone looking to transfer real estate ownership from one individual to another in South Carolina. It is commonly used among individuals, such as family members or friends, who wish to officially change the title of a property they own. Users should ensure they are aware of the legal implications of transferring property, especially if there are existing liens or encumbrances.
How to complete a form
To effectively complete the South Carolina Warranty Deed, follow these steps:
- Begin by entering the date of the transfer in the appropriate section.
- Specify the full names and statuses (married or unmarried) of the Grantor and Grantee.
- Describe the property accurately, using language such as 'SEE DESCRIPTION ATTACHED' if a detailed description is included elsewhere.
- Ensure to include any prior instrument reference details.
- Both parties should sign the document in the presence of a witness and a notary.
Key components of the form
The South Carolina Warranty Deed includes several essential components:
- Grantor and Grantee information: The names and statuses of the individuals involved in the transaction.
- Property description: A clear identification of the real estate being transferred.
- Consideration: The payment or valuable exchange made for the property, which is often stated as ten dollars.
- Covenants: Promises made by the Grantor regarding the title and ownership of the property.
Legal use and context
This form is primarily used in real estate transactions. It can be utilized to transfer property ownership due to sale, gift, or inheritance. The Warranty Deed is a legally binding document that ensures the Grantee receives full ownership rights and protection against future claims regarding that property. It is critical to use this form within the legal context to avoid disputes and ensure that all parties are aware of their rights and obligations.
What to expect during notarization or witnessing
When executing the South Carolina Warranty Deed, at least one witness and a notary public must be present. The parties involved will need to sign the document in front of the notary, who will verify their identities and witness the signing. The notary will then affix their seal to the document, which formalizes the transfer of the property. This step is crucial as it ensures the deed is valid and will be accepted by the county recorder.
Form popularity
FAQ
Review the property title to see who is officially listed on it. Sign the title over to the new owner in the place that is noted. Complete a general warranty deed to show the transfer of ownership from you to another. Pay the real estate transfer tax as levied in South Carolina.
Special warranties allow the transfer of property title between seller and buyer. The purchase of title insurance can mitigate the risk of prior claims to the special warranty deed.
In South Carolina, the grantor must sign the deed in front of two witnesses and in the presence of an individual authorized by the state to administer an oath. Record the completed deed at the local county Recorder's office, along with an Affidavit of True Consideration (S.C. Code Ann.
It's important to note that a warranty deed does not actually prove the grantor has ownership (a title search is the best way to prove that), but it is a promise by the grantor that they are transferring ownership and if it turns out they don't actually own the property, the grantor will be responsible for compensating
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 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 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.