Easily Replace Required Fields in the Warranty Deed

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How to Replace Required Fields in the Warranty Deed

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In this video, attorney Robert Flesses addresses a question from viewer Gina about converting a quitclaim deed to a warranty deed after purchasing a foreclosure. He explains that a quitclaim deed only transfers the seller's right, title, and interest at the time of the sale, without any guarantees about the property's status. Thus, it is not possible to transform a quitclaim deed into a warranty deed, as they are fundamentally different types of deeds. Flesses emphasizes that a quitclaim deed does not provide additional protections or assurances that a warranty deed does.

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Does a general warranty deed contains five covenants or warranties?

Traditionally, there are six covenants of title which can be divided into present covenants and future covenants. The present covenants are: Covenant of Seisin. Guarantees the grantor has legal possession of the property.

Is a warranty a guarantee made by a grantor in a deed?

A warranty of title is a guarantee from the person transferring the property (grantor) that the grantor owns the property and that the property is clear of liens, mortgages, or other encumbrances that may affect ownership (other than those disclosed in the deed).

What are the requirements for a warranty deed in Indiana?

To be valid, each Indiana warranty deed form must meet the requirements of Indiana law. These requirements include valid legal description, statement of consideration, and a description of the manner in which co-owners will hold title, font size and page format requirements, and signature and notarization requirements.

Which part of a deed contains a promise by the grantor that the grantor owns the property and has the right to convey title?

the covenant of seisin, meaning that the grantor warrants they own the property and has the legal right to convey it.

What is a deed that transfers title to property without any warranties called?

A quitclaim deed transfers the title of a property from one person to another, with little to no buyer protection. The grantor, the person giving away the property, gives their current deed to the grantee, the person receiving the property.

What is a warranty clause in a deed?

With a general warranty deed the warranty clause in the deed states and warrants title to the same. This means that the warranty of title provided by the seller extends back in time to people who might claim an interest in title before the seller ever bought the property.

Which of the following essential elements is required for a warranty deed to be valid?

A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed)

Who contains certain warranties or promises on a general warranty deed?

Purpose of Warranty Deed When executing a warranty deed, the seller is required to make legally binding promises, or covenants, and warranties to the buyer. These warranties include: Covenant of Seisin: Assures that the seller owns the property and can legally sell it.

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Replace Required Fields in the Warranty Deed