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North carolina special warranty deed

Nc special warranty 2025

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The document is a Special Warranty Deed form for transferring property ownership from one individual to another in North Carolina. It includes instructions for completing the form, a disclaimer regarding the use of the forms, and sections for detailing the grantor and grantee information, property description, and notary certification.

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Which of the following describes a special warranty deed?

A special warranty deed is a type of real estate deed used to transfer property ownership from one person to another. By using this particular deed, the seller is guaranteeing to the buyer that there are no defects or problems with the property title during the time that they owned the property.

What is the warranty law in NC?

66-187. Warranty obligations. (a) Whenever a supplier and a dealer enter into an agreement, the supplier shall pay any warranty claim made by the dealer for warranty parts or service within 30 days after its approval. The supplier shall approve or disapprove a warranty claim within 30 days after its receipt.

How common are special warranty deeds?

Special warranty deeds are common in commercial real estate transactions. However, sellers may also use them in residential sales, especially in cases where the seller is a bank or other financial institution.

What is a specific warranty?

Specific Warranty means the three (3) year warranty starting on the date of delivery of the Products Concerned as defined in Article 2 below, by SECURLITE to the Purchaser.

What are the disadvantages of a special warranty deed?

The main disadvantages include limited protection for buyers, who may inherit claims or issues from before the sellers ownership. Buyers must investigate the propertys history, which could lead to unexpected costs or unresolved liens.

What is an example of a special warranty?

Special warranty deed Example Consider a scenario where John, a property investor, purchases a commercial building from Sarah. Sarah provides John with a Special Warranty Deed. This deed guarantees that no title issues or encumbrances arose during Sarahs ownership.

What is a special warranty deed in NC?

The seller warrants these covenants to the buyer against any claims made by any person from the beginning of time. In contrast, the seller in a special warranty deed only warrants title against any person who claims to have title to the property by, through, or under the seller.

What is a special warranty?

A special warranty deed is a deed to real estate where the seller of the propertyknown as the grantorwarrants only against anything that occurred during their physical ownership. In other words, the grantor doesnt guarantee against any defects in clear title that existed before they took possession of the property.

Nc special warranty 2025

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