In summary, a Special Warranty Deed offers a moderate level of protection to the buyer and is less comprehensive than a General Warranty Deed. Its particularly common in certain types of real estate transactions where the seller cannot or does not want to vouch for the propertys entire title history.
What is the most common type of deed used in Arizona?
The most common deed form in Arizona is the warranty deed. Warranty deeds provide protection to the buyer in the form of a warranty by the seller that guarantees no issues with the title. Quitclaim deeds are available in Arizona, but often not insurable.
Can you sell a house with a special warranty deed?
Title Ownership: With a special warranty deed, you have ownership of the property. You can use, enjoy, lease, and sell the property, subject to any existing covenants, conditions, and restrictions of record.
What are special warranty deeds used for?
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 are the disadvantages of a special warranty deed?
The term special might suggest higher quality to buyers, but the special warranty deed offers less coverage. It offers less protection due to the limited time frame it covers. For residential properties, special warranty deeds are often used in foreclosures and forced sales to settle debts.
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Special Warranty Deed - One Grantor. Community Development Department. 6401 E Lincoln Drive. Paradise Valley, AZ 85253. PARADISE VALLEY. (480) 348-3692. SPECIAL
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