Set construction in the Warranty Deed

Aug 6th, 2022
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How to set construction in the Warranty Deed

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All right, in todays video, were gonna discuss types of deeds. Now theres probably about a dozen or so of the types of deeds were gonna discuss, and you need to know these for your real estate licensing exam. Very important. Now, understand just a little review here, I did another video that outlined the basics of deeds and what contents or what essential elements must be in a deed for it to be valid. If you have not previewed that video, please go and watch that video before you go to this video, and Im gonna leave a link right up here in your upper right hand corner of your screen. Thats a link to the video. Watch that one then come back to this one. And if youve watched that video, you will have learned that the deed is the proof or the evidence of a transfer of title or a conveyance of title. The other thing that the deed does, it represents the quality of the legal interest, what we call the quality of the estate, the type of deed determines quite frankly the quality of the

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The three present covenants embodied in the general warranty deed are the covenant of seisin, the covenant of the right to convey, and the covenant against encumbrances. The statute of limitations begins to run at the time of conveyance.
Additionally, its used when the property has been foreclosed, and the grantor (bank) has only held the title for a short period of time. It is also used when the property is being sold as is and the grantor does not want to assume responsibility for any defects that may exist.
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.
They are (1) covenant for seisin; (2) covenant of the right to convey; (3) covenant against encumbrances; (4) covenant for QUIET ENJOYMENT; (5) covenant of general WARRANTY; and (6) covenant for further assurances.
Warranty deed pros and cons BenefitsDrawbacks Guarantees that the owner has a legal right to sell the property. Can be costly from around $100 to several thousand dollars depending on the transaction.2 more rows Aug 31, 2023
The granting clause in a special warranty deed generally contains the words grantor remises, releases, alienates, and conveys.
General Warranty Deed Covenant of Seisin: The grantor warrants they own the property and has the legal right to convey it. Covenant Against Encumbrances: The grantor warrants that the property is free of liens or encumbrances, except as specifically stated in the deed.
Explanation: The covenants ensure that the grantor (the person selling the property) owns the property free and clear, that there are no undisclosed liens or encumbrances on the property, and that the grantee (the person buying the property) will not be disturbed in their ownership or enjoyment of the property.

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