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A Warranty Deed can protect the seller from legal implications if disputes arise after the transaction. The grantor assures the grantee they are responsible for past discrepancies, thus protecting the buyers interests.
What are the disadvantages of a warranty deed?
Limitations of Warranty Deeds While warranty deeds offer some key benefits, there are also some limitations, such as: A special warranty deed only guarantees that the title is clear of any claims or encumbrances during the time that the grantor owned the property.
What is required for a warranty deed in Minnesota?
A warranty deed must include Minnesotas essential elements for a valid, recordable deed. Among other things, warranty deeds must have the names of the grantor and grantee, the propertys legal description, and the specific language and covenants that demonstrate the grantors warranty to the grantee.
What is the main purpose of a warranty deed?
How do I get a warranty deed? You can get a warranty deed from your real estate agent. The warranty deed should include all the important details surrounding the real estate transaction (names of people involved, appropriate signatures, description of the property, etc.).
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