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What is the difference between a warranty deed and a special warranty deed in Florida?
Like the general warranty deed, a special warranty deed contains all five covenants of title and warrants good title. The difference is that the guarantees made in a special warranty deed only extend to the time that the grantor owned the property.
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 you use a special warranty deed in Florida?
A Florida special warranty deed offers protection to the buyer with a limited guarantee from the seller that the title to the property legally belongs to them and that there are no outstanding liens, mortgages, or other encumbrances against it during the period of time the seller owned the property.
What is the difference between a general warranty deed and a special 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.
Is a special warranty deed the same as a warranty deed?
The main difference between these deeds is that general warranty deeds apply to the entire history of a piece of land while special warranty deeds only cover the period of time that the previous owner (the grantor) has held the land.
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What may be a reason that a special warranty deed is being issued for this transaction?
Special Warranty Deed It guarantees there has been no encumbrance of the property during the grantors ownership of the property. It doesnt cover anything that happened before their ownership. These deeds are commonly used by temporary owners like banks who have acquired properties through foreclosure.
Why would a seller want 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.
florida special warranty deed
Sample Warranty Deed
THIS INDENTURE made this [] day of [], 20[], between [John Mary Smith], husband and wife, County of Monroe, State of Florida,.
Seller shall convey the Facility to Company via special warranty deed, free and clear of all mortgages, deeds of trust, UCC-1s, and other liens materially
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