US Warranty Deeds

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Commonly Asked Questions about US Warranty Deeds

Why do warranty deeds say $10?

The recorded Deed is public knowledge, so by using the language of Ten Dollars, and other good and valuable considerations we effectively can limit the knowledge of prying eyes as to how much you just bought or sold a house for.

What are the risks of a warranty deed?

The primary risk associated with a Special Warranty Deed lies in its scope of protection. This deed only covers the period the grantor owned the property, meaning the buyer takes on a risk of potential issues arising from before that period, which the grantor is not obliged to address.

What is the main purpose of a warranty deed?

Key Takeaways. A warranty deed protects the buyer and ensures that the seller holds a free and clear title to a property without any outstanding liens or mortgages. A warranty deed is a legal real estate document and protects the buyer against future claims to the title of the property.

What is the most common warranty deed?

A general warranty deed is the most common type of deed used for transferring real estate. It basically promises that: not only does the seller have good and proper title to sell the property, but all the prior owners also had good title, thus making a complete chain of ownership; and.

What are the disadvantages of a special warranty deed?

Cons: Fewer protections for buyers, who are now responsible for addressing any previous liens or claims for the property. Lenders and title companies may refuse to help buyers secure financing or title insurance for a property sold under special warranty.

What are the pros and cons of a warranty deed?

Warranty deeds protect the buyer by guaranteeing a clear title and give the current owner the legal right to sell the house. For sellers, warranty deeds can delay the home selling process and come at an extra cost.

Where to find Where can I find my warranty deed?

As a warrantor, you must designate, or title, your written warranty as either full or limited. As a warrantor, you must state certain specified information about the coverage of your warranty in a single, clear, and easy-to-read document. Businesspersons Guide to Federal Warranty Law ftc.gov business-guidance resources bu ftc.gov business-guidance resources bu