Warranty Deed Replace Value Choice For Free

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.

A general warranty deed is the most beneficial for the home buyer because it provides the most protection. It's a guarantee from the current owners (also referred to as grantors) that they have full ownership of the property and have disclosed all encumbrances, liens, easements and judgments.

A general warranty deed covers the property's entire history. It guarantees the property is free-and-clear from defects or encumbrances, no matter when they happened or under whose ownership.With a special warranty deed, the guarantee covers only the period when the seller held title to the property.

In legal terms, the $10 is a peppercorn consideration. It is an actual common law term to make it clear that an actual enforceable transfer is taking place and not a promise.

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.

The first paragraph of our Conveyance states: "in consideration of the sum of Ten and more dollars ($10.00) cash in hand paid and other good and valuable consideration." These conveyances are recorded in the Courthouse of the County in which the interest is located, thereby placing it of public record.

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