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A warranty deed is a type of deed where the grantor (seller) guarantees that they hold clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that they hold title to a piece of real estate.
A general warranty deed is the most common deed you'll come across in a standard home sale. It's "the physical representation of the transfer of ownership," says Kendall Bonner, a licensed Florida ...
Often, however, the basic differences between them is the degree to which the grantor warrants the title. The grantor may give a general warranty of title against any claims, or the warranty may be limited to only claims which occurred after the grantor obtained the real estate. The latter type of deed is usually known as a special warranty deed.
The warranty deed adds the additional guarantee that the grantor will defend the title against any third-party claim. The quitclaim deed is also sometimes used, although this document is most often used to disclaim any interest in a property rather than selling a property that one owns.
Buying or selling a home usually involves a fair amount of paperwork. A warranty deed is one of the more important documents you may encounter during the process. Warranty deeds are used to verify ...
When purchasing a home, there are a number of very important legal documents involved. Two such documents that you may encounter are a warranty deed and a deed of trust. A financial advisor could ...