Warranty Deed Replace Required Fields For Free

This special warranty deed is different than the general warranty deed in a major way. Here, the seller is only stating that they will protect the buyer from any title defects or claims arising during the seller's ownership, not from any point in time before the seller had ownership.

A general warranty deed is the most common type of warranty deed in the United States. It offers the highest level of protection to the buyer because it guarantees that there are absolutely no problems with the home ? even dating back to prior property owners.

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 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.

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.

What Is A Special Warranty Deed? A special warranty deed, also known as a limited warranty deed, is used when the seller of a property (grantor) only guarantees that the property incurred no outstanding claims or liens during their physical ownership.

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.

A general warranty deed is the most common type of deed used for transferring real estate. It basically promises that: not only does the seller have good and proper title to sell the property, but all the prior owners also had good title, thus making a complete ?chain of ownership?; and.

While a general warranty deed guarantees against all encumbrances and claims to title, a limited warranty deed protects only against claims made after the seller obtained title to the property. A limited warranty deed therefore makes no guarantees about anything that occurred before the seller owned the property.

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.