Special warranty deeds
—also known as grant deeds, covenant deeds, statutory warranty deeds, or limited warranty deeds—which limit the warranty to the period when the grantor owned the property; and. Quitclaim deeds—also known as quit claim deeds—which provide no warranty of title.
Which type of deed is least restrictive to the grantor?
One type of deed restriction is a deed that conveys a defeasible fee rather than a
fee simple absolute
. A fee simple absolute is the least restrictive of all estates (i.e., legal interest) in land.
Which type of warranty limits the covenants of the grantor when he conveys real estate?
Which type of warranty limits the covenants of the grantor when he conveys real estate?
A general warranty deed
: a. Is the best possible deed for a grantee to receive.
What type of deed releases any rights of the grantor to the property to the grantee and clears any clouds on a title but does not offer any warranties to the grantee?
Also called a non-warranty deed,
a quitclaim deed
conveys whatever interest the grantor currently has in the property if any. The grantor only “remises, releases, and quitclaims” their interest in the property to the grantee. There are no warranties or promises regarding the quality of the title.
Which type of deed would be best to convey property from the standpoint of the grantor?
It only transfers whatever interest in the property the grantor had at the time the deed is executed. A better form of deed, from the perspective of the party acquiring the real property (who is referred to in the deed as the “grantee”) is
a warranty deed
.
What type of deed has the most covenants?
The General Warranty Deed
A general warranty deed
provides the highest level of protection for the buyer because it includes significant covenants or warranties conveyed by the grantor to the grantee.
Does a deed mean you own the house?
A house deed is
the legal document that transfers ownership of the property from the seller to the buyer
. In short, it’s what ensures the house you just bought is legally yours.
What type of deed is valid to transfer the property?
The most common way to transfer property is through
a warranty deed (sometimes called a “grant deed”)
. A warranty deed transfers ownership and also explicitly promises the new owner that the grantor/seller holds good title to the property.
What type of deed is most commonly used?
When committing to a general warranty deed, the seller is promising there are no liens against the property, and if there were, the seller would compensate the buyer for those claims. Mainly for this reason,
general warranty deeds
are the most commonly used type of deed in real estate sales.
Which type of deed is considered a court ordered deed quizlet?
Sheriff’s Deed
(Deed in foreclosure). A court ordered deed used to convey title after a sale to satisfy a mortgage, judgement, or tax lien.
How do I transfer property between family members?
- Identify the donee or recipient.
- Discuss terms and conditions with that person.
- Complete a change of ownership form.
- Change the title on the deed.
- Hire a real estate attorney to prepare the deed.
- Notarize and file the deed.
Is the warranty deed the same as the deed?
Let’s start with the definition of a deed: “DEED: A written instrument by which one party, the Grantor, conveys the title of ownership in property to another party, the Grantee.” A Warranty Deed contains promises, called covenants, that the Grantor makes to the Grantee.
Why use a bargain and sale deed?
A bargain and sale deed indicates that
only the seller of a property holds the title and has the right to transfer ownership
. This type of deed offers no guarantees for the buyer against liens or other claims to the property, so the buyer could be responsible for these issues if they turn up.
Which type of deed is best for the grantor?
General warranty deeds
, which sometimes are called the full covenant and warranty deeds, provide the greatest protection and warranties by the grantor to the grantee. Covenant of seisin: Seisin is the guarantee that the grantor is the owner of the property and has the right to transfer ownership.
Which type of deed would be the best to convey property?
Quitclaim Deed
This type of deed conveys whatever interest the grantor currently has in the property—if any. No warranties or promises regarding the quality of the title are made. If the grantor has a good title, the quitclaim deed is essentially as effective as a general warranty deed.
What is an example of a covenant that may be found in a deed?
Covenants of seisin and right to convey
The covenant of seisin
is essentially a covenant that the grantor owns the estate that the deed says it conveys to the grantee. This covenant promises that no one else has any conflicting possessory interests, present or future.
