Warranty Deed Delete Alternative Choice For Free

Following is the list of the warranties that the law treats as implied in the contract of sale:Warranty As To Undisturbed Possession.The Warranty As To Non-Existence Of Encumbrances.Warranty As To The Disclosure Of Dangerous Nature Of Goods.The Warranty As To Non-Existence Of Encumbrances.More items...

The three most common types of deeds are: General Warranty Deeds; Limited Warranty Deeds; and, Non-Warranty Deeds.

Does a Warranty Deed Mean a Clear Title? A warranty deed is a higher level of protection produced by the seller upon the real estate closing. It includes a full legal description of the property, and confirms the title is clear and free from all liens, encumbrances, or title defects.

The title or deed to a piece of property, whether it be land or vehicle, is the most basic form of proof of ownership. Deeds should be recorded with the county where the property is located.

First, so long as you own the property you purchased, you are obligated to pay its property taxes. One way to get a warranty deed to the property you acquired via a foreclosure where you got a quit claim deed for it is to simply deed the property to yourself or a trust that you created as a grant (warranty) deed.

The drawback, quite simply, is that quitclaim deeds offer the grantee/recipient no protection or guarantees whatsoever about the property or their ownership of it. Maybe the grantor did not own the property at all, or maybe they only had partial ownership.

Based on that interpretation, it shouldn't ruin your credit if you signed over the condo with a quitclaim deed. Most sellers who do this sort of financing don't report to the credit bureaus unless they do a lot of buying and selling of properties to people who can't qualify for mortgages on their own.