Warranty Deed Delete Mandatory Field For Free

A traditional deed simply transfers the ownership of a property from one party to another (in other words, the seller to the buyer.) Whoever legally holds the deed is the rightful owner of the property. A warranty deed, on the other hand, contains special assurances that the seller makes to the buyer.

A general warranty deed is a deed used to legally transfer real property from one person to another. This type of deed offers the most protection for the buyer.

Updated . A North Carolina general warranty deed is used to legally transfer property in North Carolina from one person to another. A warranty deed comes with a guarantee from the seller that the property has clear title.

As one of the most secure types of deeds, general warranty deeds are used in most real estate title transfers. General warranty deeds provide guarantees that the grantor has the right to sell the property and that the grantee will be receiving a title that is free of debt, claims, or other legal encumbrances.

There are three types of deeds in North Carolina and each offer different types of protection. The three deeds are: (1) general warranty deed, (2) special warranty deed, and (3) quitclaim deed.

In a warranty deed, one will include a legal description of the property, the name of the person transferring the property (grantor), the name of the person taking ownership (grantee), and details of the ownership transfer.

A general warranty deed is a legal agreement that protects a property buyer from any debts held against the property they're purchasing. If such a debt emerges after the sale, the seller, not the buyer, is financially responsible for that debt.