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How to use or fill out Arizona Warranty Deed for a Condominium from Two Individuals to Two Individuals - Arizona
Ease of Setup
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Click ‘Get Form’ to open it in the editor.
Begin by entering the names of the Grantors (the individuals transferring the property) and Grantees (the individuals receiving the property) in the designated fields.
Specify how the Grantees will hold the property, choosing from options like Tenants in Common or Joint Tenants with Right of Survivorship. This is crucial for determining ownership rights.
Fill in the legal description of the condominium unit, including its address and any relevant details about common elements and association memberships.
Complete the Affidavit of Property Value if required, ensuring all necessary information is provided and notarized before submission.
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What is the difference between a warranty deed and a special warranty deed in Arizona?
General Warranty Deed: Provides the buyer with the most protection, as it guarantees the seller has a clear title and is legally able to transfer the property. Special Warranty Deed: Similar to a general warranty deed, but the seller only guarantees the title is free of defects that occurred during their ownership.
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 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.
Can you do a warranty deed without an attorney?
You dont always need a lawyer to write a warranty deed. If no money is being exchanged, you can use a property deed service. If youre selling a property, however, its a smart move to contact a lawyer, escrow company, or title company.
What is the difference between a warranty deed and a special warranty deed?
The main difference between these deeds is that general warranty deeds apply to the entire history of a piece of land while special warranty deeds only cover the period of time that the previous owner (the grantor) has held the land.
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Special Warranty Deed Risks: The limited protection may expose buyers to title issues that arose before the sellers ownership period. This can be risky, especially for older properties or those with a complicated title history.
Related links
AFFIDAVIT OF PROPERTY VALUE
A transfer from two or more persons to themselves to create an estate in joint tenancy with right of survivorship. B12. A transfer pursuant to a beneficiary
An individual customer with multiple orders in the same quarter (often due to multiple projects) count as two or more transactions in calculating average sale
Types of deeds: ▫General Warranty deed: A deed that protects a grantee of real property from defects in title caused by the grantor and prior owners of the
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