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What is the difference between a special warranty deed and a quit claim deed?
Where quitclaim deeds provide limited security, warranty deeds offer full legal protection to grantees or buyers after a property changes hands. A grantor who transfers property by warranty deed makes several legal guarantees about the title quality and their right to convey the real estate.
What is a transfer on death deed in District of Columbia?
A transfer on death (TOD) deed is like a regular deed you might use to transfer your District of Columbia real estate, but with a crucial difference: It doesnt take effect until your death.
What are the requirements for a deed in DC?
In DC, in order to be valid, a deed must contain the names of the grantor and grantee, a description of the property sufficient to identify it with reasonable certainty, and the interest or estate intended to be granted, is sufficient, if executed, acknowledged, and recorded.
What are the disadvantages of a special warranty deed?
The main disadvantages include limited protection for buyers, who may inherit claims or issues from before the sellers ownership. Buyers must investigate the propertys history, which could lead to unexpected costs or unresolved liens.
Why would someone get a special warranty deed?
A special warranty deed is common when a house has been foreclosed on by a bank because the previous owner did not pay their mortgage. The bank forecloses on the property and then sells it to a new buyer.
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When closing on a home, you should receive a copy of your house deed when the title is transferred to you. You can also request an additional copy at any time through your County Recorders office or Register of Deeds office (the official name may vary by location).
Can you get title insurance with a special warranty deed?
Yes you should still buy title insurance when you have a special warranty deed to protect you because there is no guarantee of ownership by the seller even though title insurance is not required.
What is a special warranty deed District of Columbia?
A covenant by a grantor in a deed conveying real estate, that he will warrant specially the property hereby conveyed, or a grant of real estate in which the granting words are followed by the words with special warranty, shall have the same effect as if the grantor had covenanted that he, his heirs, devisees, and
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by DM Bearden 2012 Cited by 34 United States District Court for the District of Columbia.120 Section 310(c) In some instances, a deed may prohibit certain land uses even if the new owner is.
Deed for part of lot in the District of Columbia [electronic resource].
Deed for part of lot in the District of Columbia Committee on the District of Columbia; Additional Titles: Deed for certain land in District of Columbia
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