A South Carolina Warranty Deed for Surface and Mineral Interests is a legal document that is used to transfer ownership of both the surface rights and the mineral rights of a property located in South Carolina. This type of warranty deed provides a guarantee from the seller (granter) to the buyer (grantee) that they have full ownership and the right to transfer both surface and mineral rights. The deed typically includes essential information such as the names and addresses of the granter and grantee, a detailed legal description of the property, the purchase price or consideration paid, and any relevant restrictions or encumbrances, if applicable. Moreover, it explicitly states that the transfer includes both surface and mineral rights, ensuring that the grantee has complete ownership and control over the property and its associated mineral resources. South Carolina may not have specific variations of a Warranty Deed for Surface and Mineral Interests; however, different types of warranty deeds commonly used in the state include: 1. General Warranty Deed: A general warranty deed guarantees that the granter holds clear and marketable title to the property and will defend the grantee against any claims or issues that may arise from previous owners. 2. Special Warranty Deed: Unlike a general warranty deed, a special warranty deed only guarantees that the granter has not incurred any defects or issues during their ownership of the property. It does not provide protection against claims that may arise from previous owners. 3. Quitclaim Deed: A quitclaim deed is often used in situations where the granter is not making any warranties or guarantees about the ownership or condition of the property. Instead, it transfers whatever interest the granter may have in the property to the grantee. It is crucial for both granters and grantees to consult with a qualified real estate attorney or title company before using any form of warranty deed to ensure compliance with South Carolina's laws and requirements. Legal professionals can help draft and review the document, ensuring the transfer accurately reflects the intentions of both parties involved.
South Carolina Warranty Deed for Surface and Mineral Interests
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General warranty deeds: A general warranty deed provides the most protection to the buyer but gives the grantor the highest degree of liability. The grantor of a general warranty deed fully warrants good, clear title to the property. This type of deed is used in most real estate deed transfers.
A general warranty deed protects the grantee against any title defects or claims arising at any point in time. Whereas, a special warranty deed only protects the grantee against title defects arising from the actions or omissions of the grantor during its ownership.
Cons: Fewer protections for buyers, who are now responsible for addressing any previous liens or claims for the property. Lenders and title companies may refuse to help buyers secure financing or title insurance for a property sold under special warranty.
The South Carolina Code expressly authorizes and publishes a suggested statutory form for general warranty deeds. A deed in the statutory form transfers real estate with a complete warranty?consisting of six common law covenants of title incorporated within the deed.
A grant deed, also known as a special or limited warranty deed, is a legal document used to transfer real estate between a previous owner (the grantor) and a new owner (the grantee). A grant deed warrants that: The grantor has not transferred the property to anyone else.
In the United States, landowners possess both surface and mineral rights unless they choose to sell the mineral rights to someone else. Once mineral rights have been sold, the original owner retains only the rights to the land surface, while the second party may exploit the underground resources in any way they choose.
A general warranty deed protects the grantee against any title defects or claims arising at any point in time. Whereas, a special warranty deed only protects the grantee against title defects arising from the actions or omissions of the grantor during its ownership.
In a limited warranty deed, the grantor will warrant and defend the title to the property to the grantee, the grantee's heirs, successors, and assigns against the said grantor and his successors and assigns.