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What does no warranties mean?

In a Non-Warranty or Quitclaim Deed, the seller merely is giving the buyer whatever rights, if any, that the seller has in the property and the seller makes no warranties of any nature about the seller's rights in the property.

Which type of deed contains no warranties?

The quitclaim deed, also called a non-warranty deed, offers the grantee the least amount of protection. This type of deed conveys whatever interest the grantor currently has in the property\u2014if any. No warranties or promises regarding the quality of the title are made.

Does NC DMV require a bill of sale?

A Bill of Sale is not legally required for selling a vehicle in North Carolina, but it's a good idea to create one for both you and the buyer. The Bill of Sale can be helpful if problems arise when the buyer goes to transfer the title or register the vehicle in their name.

What does warranty mean in real estate?

A warranty deed is a legal document used when a piece of real estate is sold and the ownership is transferred from the grantor (seller) to the grantee (buyer). The form usually includes a description of the property and discloses all known encumbrances like easements, outstanding liens or judgments.

Does the buyer have to be present to notarize a title in NC?

The car title notarization in NC doesn't require the presence of both parties. While the seller and the buyer must sign the document, only the seller's signature needs to be notarized. After the signing, a notary verifies the document with a stamp and seal.

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Is a handwritten bill of sale OK?

Can a bill of sale be handwritten? While it is common to present a bill of sale in a digital format, you can also create this type of contractual agreement as a handwritten document on paper. What's most important is to include all of the pertinent details in the bill of sale in order to protect both parties.

What does no representations and warranties mean?

Purchaser acknowledges that, except as expressly set forth in the Seller's Documents, Seller has not made and does not make any warranty or representation regarding the truth, accuracy or completeness of the Property or Seller's Due Diligence Materials or the source(s) thereof.

Does a bill of sale have to be notarized in NC?

In North Carolina, bills of sale presented for registration of a motor vehicle or vessel must be notarized. Certification/Signature: The signature of the seller and/or buyer, depending on the form, finalizes the transfer. In-person signatures are always valid.

What is the purpose of an agreement of sale?

The purpose of a sales agreement is to act as a legally binding contract between two parties involved in an exchange of money for goods, services, and/or property. One party is a buyer, while the other is a seller. Both the buyer and seller may be individuals or organizations.

What does no warranties mean in real estate?

The term \u201cas-is\u201d is regularly used in a purchase and sale agreement to indicate that the seller makes no warranties or representations about the property's condition. It is intended to relieve the seller from liability for failing to disclose a material defect in the property that is not known to the buyer.

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