Warranty Deed Delete Option Field For Free

When one uses a quitclaim deed, there is no guarantee that the grantor is the rightful owner of the property in question.A warranty deed, on the other hand, is a deed in which the grantor guarantees that he or she rightfully owns the property and has the right to transfer it.

The answer is yes. Parties to a transaction are always free to prepare their own deeds. If you do so, be sure your deed measures up to your state's legal regulations, to help avert any legal challenge to the deed later.A quitclaim deed, for example, is far simpler than a warranty deed.

The phrase one dollar and other valuable consideration is used as standard boilerplate language in many legal documents. Fundamental principles of contract law require each of the parties to exchange something of value, and there can be no enforceable agreement without that exchange.

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.

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.

A title is a legal document that proves legal ownership over an asset or piece of property. Assets such as homes, land, other types of real estate, vehicles, and personal property such as jewelry all have titles to demonstrate ownership.

However, the level of legal protection is much different. A quitclaim deed suffices for transferring ownership to people you know and trust. But a warranty deed is the right document for most property transfers.