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Commonly Asked Questions about Warranty Deeds Real Estate

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.
A warranty deed ensures a buyer that the property is owned by the seller and is able to be sold without any encumbrances. A deed of trust is used in certain states, and represents a buyers guarantee with their lender to repay the property loan as scheduled.
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.
A traditional deed simply transfers the ownership of a property from one party to another (in other words, the seller to the buyer.) Whoever legally holds the deed is the rightful owner of the property. A warranty deed, on the other hand, contains special assurances that the seller makes to the buyer.
A general warranty deed is a legal agreement that protects a property buyer from any debts held against the property theyre purchasing. If such a debt emerges after the sale, the seller, not the buyer, is financially responsible for that debt.
A warranty deed is a legal document guaranteeing that a propertys seller has the legal right to sell the property and that there are no outstanding debts or legal claims against it.
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.