When do you need a warranty deed for real estate?

Typically used in residential real estate transactions, a general warranty deed guarantees that the seller has the full legal right to sell the property, and that the property is completely free and clear of debts, liens, or other encumbrances.

Who is the grantor of a warranty deed?

The grantor is the person releasing ownership to the grantee, who takes the ownership. Ideally, the property title is free and clear of any liens or encumbrances, giving the grantee a “clean” title. Other types of deeds, such as quitclaim deeds often used for family gifting of property, don’t make any of these warranties.

How much does it cost to file a warranty deed?

If there is an exemption, file that instead. In sales, exceptions are rare. The tax exception is generally when family members gift, inherit or otherwise move property within the family. Warranty deeds must be notarized when filed. Pay the recording fee. In San Francisco, fees start at $18 for the first page and $3 per additional page.

Where do I sign the general warranty deed form?

The Grantor should read the statements on the second page. Below this, ample space for two Grantors to provide their Signatures will be available. This section must be signed by at least one Grantor. Such Signatures should take place before two Witnesses, and a Notary Public.

How do you fill out a warranty deed?

Get the warranty deed signed by all grantors; have the deed notarized. The deed must be signed by all grantors, in front of a qualified notary, and notarized by the notary to be complete. Contact the local county recorder’s office to find out what type of notaries are allowed to notarize deeds and where the notaries are located.

What is an example of a warranty deed?

The term warranty deed defines only the warranty of title. Other deeds—like life estate deeds and lady bird deeds —are named after probate avoidance features. These are independent concepts. For example, a single deed may be both a warranty deed and a lady bird deed.

What is general warranty deed?

A warranty deed (sometimes called a general warranty deed) is a form of deed that provides a full guarantee of title to real estate . This guarantee covers acts taken by all previous owners in the chain of title. A warranty deed requires special language to ensure that the deed meets state requirements.

What does a general warranty deed convey?

A general warranty deed conveys full ownership of land, and is commonly used in purchase and sales transactions of real estate. The warranty deed is the gold standard, the most highly desired form of deed, because in addition to conveying property ownership, it contains the promise of clear title, meaning the property is free of encumbrances.

Who is responsible for a general warranty deed?

With the general warranty deed, the grantor will hold full responsibility for any legal cases made against the property and any problems with it. This extends to the full history of the property, even any issues that arise from before the seller (grantor) owned the property.

What is the purpose of a limited warranty deed?

A limited warranty deed is a legal document that transfers ownership of real property from one person or organization, known as the grantor, to another, the grantee. This kind of deed guarantees that there are no title defects—claims against the title by a creditor or anyone else—that were put in place during…

How is a quitclaim deed different from a warranty deed?

While a Warranty Deed guarantees that there are no other existing claims on the property, a Quitclaim Deed does not. Both deeds transfer interest in a property from a grantor (property owner) to a grantee or buyer. Quitclaim Deeds are often used between people who know each other well, such as family members,…

How much does a warranty deed cost?

“house” (CC BY 2.0) by deovolenti. On average, filing a deed on your own can cost anywhere from $30 to $150, while hiring a professional service and/or lawyer can cost upwards of $500, plus filing fee.

Who prepares a warranty deed?

When you purchase a home with a mortgage loan, the lender generally prepares the various documents that need to be signed. The property’s seller will sign a deed, which is typically a warranty deed or grant deed depending on where you live, in the presence of a notary public.

What does warranty deed mean?

A warranty deed is a type of deed where the grantor (seller) guarantees that he or she holds 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 he or she holds title to a piece of real estate.

Can a special warranty deed protect against title claims?

The grantor warrants that he or she has received the title. The grantor warrants that the property was not encumbered during the time the grantor owned the property. A special warranty deed does not protect against any claims prior to the grantor receiving the title.

Is there a warranty deed for 81.60 acres?

Land and law professional Jean Vernon has answers to your deed questions. Q. I have found a warranty deed for 81.60 acres of land. The land has changed hands, but without the warranty deed, for I have it

When to use a survivorship or warranty deed?

A survivorship deed is one by which two (or more) people take title to a property as joint tenants with right of survivorship. If one person dies, the other person automatically becomes the owner of the property without any transfer being necessary. A warranty deed is used when there is a sale or transfer of real property.

Where do I Put my Name on a general warranty deed?

To do so, simply put the name and address of the seller—or the grantee, in this case—on the space provided in the document. Aside from that, you should also indicate that you’re the property’s rightful owner, the grantor the transfer of ownership, and the guarantor of the property’s title, as well.

Who is the grantor in a general warranty deed?

The person who stands as the grantor in a general warranty deed is the only person who can prepare such a document. This is because the general warranty deed constitutes as the grantor’s guarantee of the property’s title. Is there another way of guaranteeing a property’s title aside from a general warranty deed?

What are the covenants in a general warranty deed?

The usual covenants for title included in a general warranty deed are: the covenant of seisin , meaning that the grantor warrants they own the property and has the legal right to convey it

How do you get a copy of a warranty deed?

Warranty deeds are on file with county recorder ‘s office in the county where the property resides. To get a copy of a warranty deed, go to the county recorder’s office and request a copy.

Is title insurance as good as a warranty deed?

A warranty deed is no substitute for title insurance . Even if you already have a warranty deed, it is still recommended that you get title insurance.