Warranty Deed Add Required Fields For Free

It's also important to point out that there are two types of warranty deeds that offer different levels of protection to the buyer and risk to the seller. These two types of deeds are general warranty deeds and special warranty deeds.

A warranty deed isn't proof that you now own the property. Rather, it means the previous owner can guarantee that no one else holds ownership or is owed money for the property. You don't actually own the property until the title is transferred to you.

For example, good consideration in real estate is when a buyer and seller agree to the terms and conditions for the purchase of a home. This is a good consideration as it is something legally permissible and it is good between the parties.

DEED: A written instrument by which one party, the Grantor, conveys the title of ownership in property to another party, the Grantee. A Warranty Deed contains promises, called covenants, that the Grantor makes to the Grantee.The grantor may also make certain future covenants in the Deed.

There are different types of deeds such as the warranty deed, special warranty deed, and the quitclaim deed. The difference between these deeds is usually defined by what warranties and covenants are being conveyed from the seller to the buyer.

A special warranty deed is more limited than the more common general warranty deed, which covers the entire history of the property.The primary difference between a special warranty and a general warranty deed is how they deal with the timeframe of protection given to title ownership.

Include Consideration: Consideration is something of value bargained for in exchange of the real estate. Money is the most common form of consideration, but other consideration of value, such as other property in exchange, or a promise to perform (i.e. a promise to pay) is also satisfactory.