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The document is a Warranty Deed that outlines the transfer of property from three individuals (the Grantors) to one individual (the Grantee) in New Mexico. It includes details about the property, legal assurances regarding the title, and provisions for tax responsibilities. The document requires signatures from the Grantors and notarization.

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What does a warranty deed protect against?

A warranty deed protects the buyer and ensures that the seller holds a free and clear title to a property without any outstanding liens or mortgages. A warranty deed is a legal real estate document and protects the buyer against future claims to the title of the property.

When a buyer accepts a warranty deed from a seller?

For the buyer, it assures that they are acquiring a clear title. 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 is the difference between a warranty deed and a property deed?

A traditional deed simply transfers the ownership of a property from one party to another (in other words, the seller to the buyer.) Whoever legally holds the deed is the rightful owner of the property. A warranty deed, on the other hand, contains special assurances that the seller makes to the buyer.

Can you sell a house with 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.

Does a warranty deed prove ownership?

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.

how to fill out a warranty deed

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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 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.

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What does a warranty deed protect against?

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Does a warranty deed prove ownership?

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What are the disadvantages of a special warranty deed?

What are the disadvantages of a warranty deed?

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