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Oklahoma special warranty deed

Oklahoma special warranty deed form 2025

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The document is a Special Warranty Deed for the State of Oklahoma, detailing the transfer of property from a trustee to four individuals, subject to a life estate. It includes instructions for completing the deed forms, information on the Documentary Stamp Tax applicable in Oklahoma, exemptions from this tax, and guidelines on how grantees can hold the property. Additionally, it contains disclaimers regarding the use of the forms and legal advice.

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What is the difference between a warranty deed and a quitclaim deed in Oklahoma?

Generally, if the conveyance includes an actual sale of a property, then either a warranty or a special warranty deed is executed. However, for conveyance without an actual sale such as transferring property to a trust or to another family member, a quit claim deed is used.

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.

What is a special warranty deed in Oklahoma?

Through a special warranty deed, the seller only promises to defend the title against any future claims against the seller only, and not otherwise. This is memorialized in the deed with language such as by and through grantor, and not otherwise.

Where can I get a special 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.).

Who prepares a special warranty deed?

Preparation of the Deed: The seller prepares the warranty deed, detailing the grantors and grantees information, the legal description of the property, and the statement of conveyance.

Does a warranty deed mean you own the property?

No, a warranty deed does not prove ownership. A title search is the best way to prove that a grantor rightfully owns a property. The warranty deed is a legal document that offers the buyer protection. In other words, the property title and warranty deed work in tandem together.

Why would you use a special warranty deed?

A special warranty deed is a type of real estate deed used to transfer property ownership from one person to another. By using this particular deed, the seller is guaranteeing to the buyer that there are no defects or problems with the property title during the time that they owned the property.

Oklahoma special warranty deed form 2025

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