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South Carolina A Non-Warranty Deed

Non Warranty Deed

Name: South Carolina A Non-Warranty Deed
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.88 (400 reviews)

Category:

South Carolina Real Estate - Contracts

State:

South Carolina

Control #:

SC-LR038

Format:

Instant download

Description

This deed is executed by the Master in Equity following a court action where judgment was entered for foreclosure. The property was awarded at auction to the grantee.

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FAQ

There are several different types of deeds, and many property owners have questions about the type of deed they should use to transfer property to a living trust.For example, California uses the term grant deed, and Michigan uses the term covenant deed, to describe a deed that provides a limited warranty of title.

A warranty deed, also known as a general warranty deed, is a legal real estate document between the seller (grantor) and the buyer (grantee). The deed protects the buyer by pledging that the seller holds clear title to the property and there are no encumbrances, outstanding liens, or mortgages against it.

They are (1) covenant for seisin; (2) covenant of the right to convey; (3) covenant against encumbrances; (4) covenant for QUIET ENJOYMENT; (5) covenant of general WARRANTY; and (6) covenant for further assurances.

Special warranty deeds are most commonly used with commercial property transactions. Single-family and other residential property transactions will usually use a general warranty deed. Many mortgage lenders insist upon the use of the general warranty deed.

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.

A general warranty deed covers the property's entire history.The general warranty deed assures the buyer they are obtaining full rights of ownership without valid potential legal issues with the title. With a special warranty deed, the guarantee covers only the period when the seller held title to the property.

Non-Warranty Deeds In a Non-Warranty or Quitclaim Deed, the seller merely is giving the buyer whatever rights, if any, that the seller has in the property and the seller makes no warranties of any nature about the seller's rights in the property.

A general warranty deed is the most beneficial for the home buyer because it provides the most protection. It's a guarantee from the current owners (also referred to as grantors) that they have full ownership of the property and have disclosed all encumbrances, liens, easements and judgments.

A warranty deed is a document often used in real estate that provides the greatest amount of protection to the purchaser of the property. The deed pledges or warrants that the owner owns the property free and clear of any outstanding liens, mortgages, or other encumbrances.

Non Warranty Deed

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FAQ

What type of deed should I use?

Is a warranty deed the same as a general warranty deed?

What are the five warranties in a general warranty deed?

When would you use a special warranty deed?

Why would someone have a special warranty deed?

What is the difference between a warranty deed and a general warranty deed?

What does non warranty deed mean?

Is a warranty deed good?

What is the purpose of a general warranty deed?

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