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A warranty deed holds the seller, or grantor, responsible for any breach after the title search, even if the breach occurred without their knowledge or during a period before the grantor owned the property. It ensures that the buyer will not be responsible for any past title defects or encumbrances.
What is the main purpose of a warranty deed?
A special warranty deed guarantees two things: The grantor owns, and can sell, the property; and the property incurred no encumbrances during their ownership. A special warranty deed is more limited than the more common general warranty deed, which covers the entire history of the property.
How do I transfer a warranty deed?
Both the grantor and the grantee must sign it, usually in the presence of a notary. Then the deed must be filed in the county registrars office to be legally enforceable. Once filed, the legal transfer of the property is complete.
When a corporation transfers ownership of property the deed must be signed?
0:18 2:05 It proves ownership and gets updated when property changes hands when a corporation transfersMoreIt proves ownership and gets updated when property changes hands when a corporation transfers property. They sign a deed this deed needs to be as official as a referees whistle.
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.
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The warranty deed not only gives the grantor the legal right to sell the home but also confirms that the property has no title issues or concerns.
Related links
Revised Article 9 of the U.C.C. and Minnesota Contracts for
by LM Wertheim 2002 Cited by 8 Minnesota contracts for deed have traditionally been governed exclusively by Minnesota law and Minnesota lawyers dealing with such contracts
Forms cannot be altered, only filled in or completed, otherwise they may not be accepted for filing at the county offices. 10.1.1 - Warranty Deed Individual(s)
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