No, a warranty deed does not prove ownership. A title search is the best way to prove that a grantor rightfully owns a property. The warranty deed is a legal document that offers the buyer protection. In other words, the property title and warranty deed work in tandem together.
Why would someone do a warranty deed?
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.
What is an Illinois warranty deed?
A warranty deed that transfers title to real estate from a grantor to a grantee. In Illinois, a warranty deed transfers title to the grantee with broad warranties and covenants of title and is the form of deed customarily used in residential real estate transactions.
What is a warranty deed in Illinois?
A warranty deed is one that helps ensure the lawful transfer of ownership between a seller (the grantor) and the buyer (the grantee). Warranty deeds are meant to protect the buyer from any issues that may arise with their new home, particularly with the title.
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Foundations of Law - The Closing and Real Property Deeds
General Warranty Deed: A deed that fully warrants and promises that the title being transferred is fully valid and free of encumbrances. Special Warranty Deed:
Warranty deed; encumbrances done or suffered from the grantor. (a) In all deeds whereby any estate of inheritance in fee simple shall hereafter be limited
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