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A warranty deed is a legal real estate document and protects the buyer against future claims to the title of the property. Most lenders require a warranty deed for properties they finance. The seller of a property is known as the grantor and the buyer is referred to as the grantee.
What is the role of a grantee?
Quitclaim Deed There are no covenants or warranties by the grantor and this deed offers the lowest amount of protection to the grantee. This type of deed is also frequently used in transfers between family members and related transactions.
Who owns the house, Grantor or Grantee?
The Definition Of Grantor And Grantee Mortgage agreements: The lender (grantor) provides funds, and the borrower (grantee) receives them. Trusts: The trust creator (grantor) transfers assets to a beneficiary (grantee). Property deeds: The seller (grantor) transfers ownership to the buyer (grantee).
What is the difference between a grantor and a grantee on a deed?
Property sellers and buyers are grantors and grantees, respectively. The sellers hold the title deed and property rights that they transfer to the buyers once the sale process is complete. Different costs throughout the transfer of title, like title insurance, could add to the overall cost of property purchase.
What is the difference between a grantor and a grantee in Realpha?
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.
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Warranty and limited warranty deeds are usually the most reliable because they offer a covenant proving that the land is indeed owned by the grantor. However,
RP-5217-PDF Real Property Transfer Report Instructions
Deed Type is Not Warranty or Bargain and Sale (Specify Below) - If the deed conveying the property is other than a Warranty Deed or Bargain and Sale Deed, check
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