What’s another name for warranty deed?

Special warranty deeds—also known as grant deeds, covenant deeds, statutory warranty deeds, or limited warranty deeds—which limit the warranty to the period when the grantor owned the property; and. Quitclaim deeds—also known as quit claim deeds—which provide no warranty of title.

What is the most common type of warranty deed?

General warranty deed
General warranty deed: A general warranty deed is the most common type of deed used to transfer fee simple ownership of a property. Unlike a quitclaim deed, a general warranty deed does confirm a grantor’s ownership and a legal right to sell.

What is a general warranty deed quizlet?

Definition of General Warranty Deed? A deed in which the grantor warrants or guarantees the title to real property against defects existing before the grantor acquired title or arising during the grantors ownership.

What is the difference between general and special warranty deed in Texas?

A special warranty deed is more limited than a general warranty deed, and it only warrants that title is free and clear from other claims during the time period of the grantor’s ownership. It does not offer any protection for claims arising prior to the grantor’s ownership.

What is the weakest type of deed?

The Quitclaim Deed

A quitclaim deed provides the least protection for the buyer, and its uses are very limited. This type of deed simply transfers any interest the grantor might have in the property. It doesn’t guarantee that the grantor has any interest to convey.

Who benefits the most from a warranty deed?

The buyer
The buyer, or grantee, of a property benefits the most from obtaining a warranty deed. Through the recording of a warranty deed, the seller is providing assurances to the buyer should anything unexpected happen.

How do I void a general warranty deed?

Assuming the buyer agrees to revoke the deed before it is recorded, the buyer can return the deed to the seller to effectuate the revocation. If the deed was recorded, the buyer will have to sign a document that rescinds the warranty deed that is suitable for recording.

What is general warranty deed Texas?

The most common type of deed used in Texas is a general warranty deed. This type of deed guarantees the title comes without any liens, easements, or other title problems. A general warranty deed also assures the buyer that there will be no issues with the title.

Why would you use a special warranty deed in Texas?

The Texas special warranty deed form provides a limited warranty of title. With a special warranty deed, the person transferring the property guarantees that he or she has done nothing that would cause title problems, but makes no guarantees about what might have happened before he or she acquired the property.

Which of the following types of deeds is the safest?

As one of the most secure types of deeds, general warranty deeds are used in most real estate title transfers. General warranty deeds provide guarantees that the grantor has the right to sell the property and that the grantee will be receiving a title that is free of debt, claims, or other legal encumbrances.

What is a warranty deed in Alabama?

The Alabama warranty deed is a form of deed that provides an unlimited warranty of title. It makes an absolute guarantee that the current owner has good title to the property. The warranty is not limited to the time that the current owner owned the property.

Which type of deed would be the best to convey property?

A quitclaim deed contains no warrants of any kind. The grantor states that any interest they may have in the property is relinquished to the grantee. This is the best type of deed from the standpoint of the grantor.

What is a warranty deed in TN?

Updated May 10, 2022. A Tennessee general warranty deed is a form that conveys real estate from a seller to a buyer and guarantees that the title is free and clear of all liens and encumbrances.

Do deeds have to be recorded in Alabama?

The deed must be recorded in the Office of the Judge of Probate in the county where the property is located (Alabama Code § 35-4-50 and Alabama Code § 35-4-62). Unless an exception applies, a deed transfer tax must be paid when the deed is recorded (Alabama Code § 40-22-1).

Who prepares the deed of sale?

the seller
Who prepares the Deed of Sale? The deed of sale is drafted by the seller and it includes the details of the transaction. The document should then be notarized by a lawyer, otherwise, it will have no power when presented to authorities or court.

What is a quitclaim deed Alabama?

An Alabama quitclaim deed is a document that transfers ownership of interest in a property from one party to another. The grantor (“seller”) will be the party that is giving their ownership interest and the grantee (“buyer”) will be the party that is paying or trading for said interest.

Who owns the title deeds to my property?

The title deeds to a property with a mortgage are usually kept by the mortgage lender. They will only be given to you once the mortgage has been paid in full. But, you can request copies of the deeds at any time.

Does a spouse automatically inherit everything in Alabama?

In Alabama, if you are married and you die without a will, what your spouse gets depends on whether or not you have living parents or children. If you don’t, then your spouse inherits all of your intestate property.