Warranty Deed Replace Option Choice For Free

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

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.

Quitclaim deeds are most often for transferring property between family members or to cure a defect on the title, such as a misspelling of a name.They may also be used when a property transfers ownership without being sold, that is when no money is involved.

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 warranty deed guarantees that: The grantor is the rightful owner of the property and has the legal right to transfer the title.The title would withstand third-party claims to ownership of the property. The grantor will do anything to ensure the grantee's title to the property.

Call the mortgage lender, title company and the local property records office and inform them that you need to change the warranty deed on your property. Each of these parties will have unique guidelines to follow and paperwork to fill out.

3 Disadvantages of Quitclaim DeedsNo guarantees to the new owner: Unlike a warranty deed, a quitclaim deed does not guarantee that a property is free from title defects such as tax liens or title claims from third parties.