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Bargain and sale deed with covenants

Bargain and Sale Deed for Individuals or Husband and Wife as Grantor - Oregon 2025

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The document is a template for a Bargain and Sale Deed specific to Oregon, intended for individuals or married couples. It provides instructions on completing the form, includes a disclaimer about the legal use of the forms, and outlines the necessary information for transferring property ownership. The deed requires signatures from grantors and notarization, along with a legal description of the property being transferred.

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What are the disadvantages of a bargain and sale deed?

While the bargain and sale deed asserts that the grantor holds the title, it does not cover any liens, encumbrances, or claims from previous owners. This limitation necessitates that buyers perform thorough due diligence, such as a detailed title search, before proceeding with the purchase.

Why wouldnt a buyer want a bargain and sale deed?

A bargain and sale deed indicates that only the seller of a property holds the title and has the right to transfer ownership. This type of deed offers no guarantees for the buyer against liens or other claims to the property, so the buyer could be responsible for these issues if they turn up.

What is the main difference between a quitclaim deed and a bargain and sale deed?

Bargain and Sale Deed includes a warranty of title against only defects that the grantor may have created, but not those created by grantors predecessors. Quit Claim Deed does not include any warranty of title.

What is another name for a bargain and sale deed?

The bargain and sale deed does mean that the grantor claims to have title to the property. This type of deed has often been supplanted by the quit claim deed in many jurisdictions. The bargain and sale deed was used frequently in tax sales and for foreclosure actions.

Why use a bargain and sale deed?

As a refresher, a grantor who uses a bargain and sale deed is guaranteeing that they own the property outright. This means that no other owner has a stake to claim with regards to the property title. In contrast, a quitclaim deed provides no such warranties.

When to use a bargain and sale deed?

Bargain and sale deeds are most often used when property is transferred pursuant to a foreclosure, tax sale, or settlement of the estate of a deceased person. They may also be used in the same situations as a quitclaim deed, although they give the grantee a little more protection.

Bargain and Sale Deed for Individuals or Husband and Wife as Grantor - Oregon 2025

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