Maryland Oil and Gas Forms

What is a Warranty Deed?

A warranty deed is a legal document used to transfer ownership of real estate property from one person to another in Maryland. It is a promise from the seller to the buyer that they legally own the property and have the right to sell it. This document guarantees that the property is free from any claims, liens, or debts, ensuring a clear and clean title for the buyer. In simple terms, a warranty deed in Maryland provides a level of security and protection to the buyer by assuring them that they are receiving full ownership of the property without any legal issues.

Does a Warranty Deed Prove Ownership?

In simple words, a warranty deed is a legal document that provides evidence of ownership for a property. However, in Maryland, just having a warranty deed does not necessarily guarantee complete ownership rights. While it establishes a certain level of ownership, there could still be certain limitations or potential claims on the property. It is important to consult with a real estate attorney or title company to conduct a thorough title search and ensure there are no outstanding issues that could affect your ownership rights.

Types of Warranty Deeds

In Maryland, there are two main types of warranty deeds: general warranty deed and special warranty deed. A general warranty deed provides the highest level of protection for the buyer. It guarantees that the seller owns the property and has the right to sell it, and also promises to defend the buyer against any claims or issues that may arise. On the other hand, a special warranty deed only offers a limited guarantee. It assures that the seller has not caused any problems during their ownership of the property, but does not provide protection against any issues that occurred before their ownership. Both types of warranty deeds are important in ensuring a smooth and secure transfer of property ownership in Maryland.

General Warranty Deed

A General Warranty Deed is a legal document used in Maryland to transfer property ownership from the seller to the buyer. It provides the buyer with the highest level of protection by guaranteeing that the seller has clear and valid ownership of the property and has the right to sell it. This means that if any issues or claims arise regarding the property's title, the seller is responsible for resolving them. The deed also promises that the property is free from any undisclosed legal or financial obligations. In simple terms, a General Warranty Deed ensures that the buyer can have peace of mind knowing they are purchasing a property without any hidden problems.

Statutory Warranty Deed

A statutory warranty deed is a legal document used in Maryland to transfer ownership of real estate property. It provides certain promises and guarantees from the seller to the buyer. When someone receives a statutory warranty deed, they can have peace of mind knowing that the seller guarantees that they are the rightful owner of the property and have the legal authority to sell it. The deed also guarantees that the property is free from any liens, encumbrances, or claims, except those mentioned in the document. This means that the buyer is protected against any hidden issues that may affect their ownership rights. Overall, a statutory warranty deed is an important tool in ensuring a smooth and secure real estate transaction in Maryland.