A warranty deed is a legal document used when a piece of real estate is sold and the ownership is transferred from the grantor (seller) to the grantee (buyer). The form usually includes a description of the property and discloses all known encumbrances like easements, outstanding liens or judgments.
What are the common problems with warranty deeds?
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.
Can you transfer a home warranty to a new owner?
The process of transferring a warranty to the new homeowner can vary among providers. Some may require a transfer fee, while others may have specific steps you need to follow. Make sure you understand the transfer process and associated costs.
Does an attorney have to prepare a deed in Kentucky?
Special Warranty Deed. In this type of property deed, the grantor warrants that they have not done anything to create a defect. For instance, the grantor guarantees no liens or mortgages on the property.
Can a warranty deed be transferred?
A deed is the legal document that transfers legal title from one person to another. A warranty deedalso known as a general warranty deedis a specific type of deed that guarantees that the owner of the property owns it free and clear, and is able to transfer the property to the seller.
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Kentucky Attorney Involvement Laypersons may conduct real estate closings, but may not answer legal questions that arise at the closing, or offer any legal advice to the parties. However, preparation of deeds and mortgages constitutes the practice of law and must be prepared by an attorney.
Do you have to have a lawyer to transfer a deed?
You may not need to involve an attorney to create a particular deed if you already have all the information. This is especially true if you are transferring property between family members or into or out of a trust. We provide several real estate forms that can help you transfer property validly in your state.
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The Black List - The GMC Assist List
The Black List Usage Disclaimer: By opening this publication, you hereby accept and agree: This GMC Assist List shall be used for individual and personal
The following list is an example of common exemptions: deeds between husband and wife, or between former spouses as part of a divorce proceeding; a merger or
by W Gilmer Jr Cited by 3 in the cases of husband and wife. Following the principal rule, the words and wife appearing after the name of the grantee in the caption of the deed
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