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A warranty deed is a legal document used when a piece of real estate is sold and the ownership is transferred from the grantor (seller) to the grantee (buyer). The form usually includes a description of the property and discloses all known encumbrances like easements, outstanding liens or judgments.
Can you add someone to a warranty deed?
0:12 1:12 So its essential to understand the process and its consequences.MoreSo its essential to understand the process and its consequences.
Who signs the warranty deed at closing?
Typically the grantor(s) must sign the deed in front of a notary, and then the notarized deed is recorded in the local county records office, making the transaction complete, and a matter of public record.
What is an individual warranty deed?
A warranty deed is a type of deed where the grantor (seller) guarantees that they hold clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that they hold title to a piece of real estate.
Who is the grantor and grantee on a warranty deed?
The Definition Of Grantor And Grantee Mortgage agreements: The lender (grantor) provides funds, and the borrower (grantee) receives them. Trusts: The trust creator (grantor) transfers assets to a beneficiary (grantee). Property deeds: The seller (grantor) transfers ownership to the buyer (grantee).
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The two parties involved in a warranty deed are the seller, known as the grantor, and the buyer, or the grantee, and either party can be an individual or a business. Most lenders require a warranty deed for properties they finance.
Does a warranty deed need to be signed by both parties?
Using a general warranty deed You also can use an online services provider, if you want assistance in creating a general warranty deed. Once you obtain the correct form, you must fill it in completely. Both the grantor and the grantee must sign it, usually in the presence of a notary.
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Deeds Types
Most current deeds fall into one of four categories: 1) General Warranty, 2) Special. Warranty, 3) Quit Claim deed, and 4) Bargain and Sale deed. General
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