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Special warranty deed definition

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The document is a Limited Warranty Deed form for the transfer of property from a husband and wife (Grantors) to an individual (Grantee) in Ohio. It includes instructions for completing the form, a disclaimer regarding the use of the forms, and legal covenants ensuring that the property is free from encumbrances made by the Grantors, with certain exceptions noted. The document also outlines the necessary signatures and notary acknowledgment required for execution.

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What is the safest type of deed?

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 a limited warranty deed in Ohio?

In a Limited Warranty Deed, the seller guarantees that they have not caused any defects in title during their ownership, but they do not warrant against defects that may have existed before their ownership. Essentially, the seller is only responsible for title issues that occurred while they owned the property.

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

General Warranty Deed: A General Warranty Deed provides buyers with the highest level of protection. It guarantees the propertys title against all claims and encumbrances, even those that predate the sellers ownership. In contrast, a Limited Warranty Deed only covers the period of the sellers right.

Who benefits the most from a warranty deed?

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.

Can you sell a house with a limited warranty deed?

You can sell as a warranty deed but this means you are warranting clean title and the buyer can come back to you, you should only provide a warranty deed if theres a title company/title insurance being purchased.

Can you sell a property with a warranty deed?

Warranty Deeds are used in most home sales between unrelated parties because they offer the most protection for buyers without established trust. If any title issues arise after a sale, a Warranty Deed ensures that the seller remains responsible. There are two types of Warranty Deeds: special and general.

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