Utah Mineral Deed with Limited Warranty
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How to fill out Mineral Deed With Limited Warranty?
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FAQ
Use the corrective deed to amend a previously recorded deed of conveyance with an error that could affect title. An error in a document can be corrected in one of three ways in Utah: by recording an affidavit, by re-recording the original document, and by recording a new document.
Release of security interest. "Revolving credit line" means an agreement between the borrower and a secured lender who agrees to loan the borrower money on a continuing basis so long as the outstanding principal amount owed by the borrower does not exceed a specified amount.
A Utah special warranty deed allows for the ownership transfer of real estate with the guarantee that no claims have been made during the grantor's period. The grantee will be responsible for any claims made prior to the grantor's ownership.
The main difference between a grant deed vs. warranty deed is the level of protection offered. A warranty deed offers a higher level of protection than a grant deed. With a grant deed, the grantor is guaranteeing that they haven't sold the property to anyone else, and that it is clear of any liens or restrictions.
What Is a Special Warranty Deed? A special warranty deed is a deed to real estate where the seller of the property?known as the grantor?warrants only against anything that occurred during their physical ownership.
A special warranty deed?also known as a limited warranty deed?is a variation of the general warranty deed. While the word "special" may communicate to a buyer the idea that the deed is of higher quality, the special warranty deed is less comprehensive. It offers less protection due to the limited timeframe it covers.
A special warranty deed form is defined by its warranty of title. In Utah, the warranty of title is defined by Utah Code § 57-1-12.5 to include the following covenants: That the property is free from all ?encumbrances? (mortgages, liens, etc.) made by the grantor other than those disclosed in the deed; and.
While the seller in a Warranty Deed must defend the title against all other claims and compensate the buyer for any unsettled debts or damages, the seller in a Special Warranty Deed is only responsible for debts and problems accrued or caused during his ownership of the property.
