A Washington Statutory Warranty Deed is a type of deed used to transfer real estate in the state of Washington. It is a type of general warranty deed that provides the greatest protection to the buyer, as it guarantees that the title is free of liens and encumbrances, and that the seller holds title free of any defects. The deed also guarantees the buyer that the seller is the rightful owner of the property and that they have the right to transfer it. There are two types of Washington Statutory Warranty Deed. The special warranty deed provides fewer guarantees than the general warranty deed, as it only guarantees the title against defects that occurred during the seller’s ownership. The quitclaim deed provides the least protection to the buyer as it does not guarantee the title or the seller’s ownership.
Washington Statutory Warranty Deed
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FAQ
General warranty deed: A general warranty deed is the most common type of deed used to transfer fee simple ownership of a property. Unlike a quitclaim deed, a general warranty deed does confirm a grantor's ownership and a legal right to sell.
Generally, a grantor would prefer to use a bargain and sale deed because it limits their liability. In contrast, a grantee would prefer a general warranty deed because it gives them the most protection possible.
What Is the Strongest Type of Deed? For real estate buyers, a general warranty deed provides greater protection than any other type of deed. While it's the best deed for the grantee, it gives the grantor the most liability.
Both a warranty deed and deed of trust are used to transfer the title of a property from one person to another. However, the difference between these two contracts is who is protected. As you now know, a deed of trust protects the beneficiary (lender). A warranty deed, on the other hand, protects the property owner.
There are three main types of deeds namely general warranty deeds, special warranty deeds, and quitclaim deeds. General warranty deeds provide the grantee with complete security, while special warranty deeds provide partial protection, and a quitclaim deed gives the grantee the least legal protection.
A Deed is a legal document that conveys interest in real property from one person or entity to another. The three types of deeds approved by Washington State Legislature are; the Warranty Deed, Bargain and Sale Deed and the Quit Claim Deed.
A Washington deed is used to transfer the ownership of property from a grantor, or ?seller,? to a grantee, or ?buyer,? in the State of Washington. This form is usually completed after a purchase and sale agreement has been authorized and a deed transfers the actual property.
A Warranty Deed is the best of the best. It protects you from all future and past issues with property title and any outstanding debts or liens.