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What is the difference between a warranty deed and a mortgage?

According to , a general warranty deed guarantees that: The grantor legally owns the property and has the legal right to transfer it. There are no outstanding mortgages, liens or other claims against the property by any creditor.

Which deed provides the greatest protection for the buyer?

A general warranty deed is the most common type of warranty deed in the United States. It offers the highest level of protection to the buyer because it guarantees that there are absolutely no problems with the home even dating back to prior property owners.

Is there another name for warranty deed?

A warranty deed, also known as a general warranty deed, is a legal real estate document between the seller (grantor) and the buyer (grantee).

Who benefits the most from a warranty deed?

The buyer, or grantee, of a property benefits the most from obtaining a warranty deed. Through the recording of a warranty deed, the seller is providing assurances to the buyer should anything unexpected happen.

What are the 2 main types of deeds to transfer property in California?

California mainly uses two types of deeds: the grant deed and the quitclaim deed. Most other deeds you will see, such as the common interspousal transfer deed, are versions of grant or quitclaim deeds customized for specific circumstances.

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What is the most common type of warranty deed?

General warranty deed: A general warranty deed is the most common type of deed used to transfer fee simple ownership of a property. Unlike a quitclaim deed, a general warranty deed does confirm a grantors ownership and a legal right to sell.

Does California use grant deed or warranty deed?

The laws of most states require the use of warranty or special warranty deeds, while the laws in a few states, including California, permit the use of grant deeds. Although a special warranty deed could be used in California, it is neither necessary nor likely to be used.

Whats another name for warranty deed?

Special warranty deedsalso known as grant deeds, covenant deeds, statutory warranty deeds, or limited warranty deedswhich limit the warranty to the period when the grantor owned the property; and. Quitclaim deedsalso known as quit claim deedswhich provide no warranty of title.

What is a warranty deed?

by Practical Law Real Estate. A deed transferring title and legal interest in real property from the grantor to the grantee with full covenants and warranties.

What deed gives you the most protection?

General warranty deeds give the grantee the most protection, special warranty deeds give the grantee more limited protection, and a quitclaim deed gives the grantee the least protection under the law.

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What is the difference between a warranty deed and a mortgage?

Which deed provides the greatest protection for the buyer?

Is there another name for warranty deed?

Who benefits the most from a warranty deed?

What are the 2 main types of deeds to transfer property in California?

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People also ask

What is the most common type of warranty deed?

Does California use grant deed or warranty deed?

Whats another name for warranty deed?

What is a warranty deed?

What deed gives you the most protection?

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Get the up-to-date warranty deed for 2024 now

Here's how it works

How to modify Warranty deed for in PDF format online

Complete this form in 5 minutes or less

Got questions?

What is the difference between a warranty deed and a mortgage?

Which deed provides the greatest protection for the buyer?

Is there another name for warranty deed?

Who benefits the most from a warranty deed?

What are the 2 main types of deeds to transfer property in California?

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Complete this form in 5 minutes or less

People also ask

What is the most common type of warranty deed?

Does California use grant deed or warranty deed?

Whats another name for warranty deed?

What is a warranty deed?

What deed gives you the most protection?

Related links

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