Warranty Deed Documentation - Page 3

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Commonly Asked Questions about Warranty Deed Documentation

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 another name for a warranty deed?

A warranty deed or quit claim deed TRANSFERS TITLE or OWNERSHIP of real property. When you purchase property, you usually receive a warranty deed from the seller to you to show that you now own the property.

What is the most common type of 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.

Are warranty deed and title the same?

No, a warranty deed does not prove ownership. A title search is the best way to prove that a grantor rightfully owns a property. The warranty deed is a legal document that offers the buyer protection. In other words, the property title and warranty deed work in tandem together.

Is a warranty deed the same as title insurance?

While a warranty deed and title insurance are similar, they serve different purposes. A warranty deed shows that there are no claims to the property. A title insurance policy, though, offers protection from financial loss associated with ownership issues, and transfers any such risks to the insurance company.

What is more important, the deed or the title?

Is A Deed Better Than A Title? When you buy a home, you need both the deed and the title; one isnt better than the other. The title is the concept of legal ownership while the deed is the document that proves ownership.

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Warranty Deed Documentation - Page 3

Get and manage Warranty Deed Documentation online

Video Guide on Warranty Deed Documentation management

Commonly Asked Questions about Warranty Deed Documentation

What is the main purpose of a warranty deed?

What is another name for a warranty deed?

What is the most common type of warranty deed?

Are warranty deed and title the same?

Is a warranty deed the same as title insurance?

What is more important, the deed or the title?

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Warranty Deed Documentation - Page 3

Get and manage Warranty Deed Documentation online

Video Guide on Warranty Deed Documentation management

Commonly Asked Questions about Warranty Deed Documentation

What is the main purpose of a warranty deed?

What is another name for a warranty deed?

What is the most common type of warranty deed?

Are warranty deed and title the same?

Is a warranty deed the same as title insurance?

What is more important, the deed or the title?

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