Thu June 16, 2011, 8:45pmAn Explanation Of The General Warranty DeedWhat is a general warranty deed?
The General Warranty Deed is the most common deed used to transfer title to real estate in a normal sale of a property. This type of deed is the buyer-preferred document that offers the greatest level of protection to the buyer.
The grantor (seller) guarantees that they own the property and have the legal right to sell it. The grantor also warrants that the title is free of any liens and encumbrances (has clear title to the property), except those that may be specifically noted in the deed, and guarantees that the title is superior to any other title that may exist on the property. Finally, the grantor promises to get any required legal documents that may be needed to make the grantee's title good, and he will defend the grantee's title against all legal claims that may be made against it, including compensating the grantee for any loss should the title prove faulty. The guarantee is not limited to the time the grantor owned the property—it extends back to the property's origins.
General Warranty Deed (legal): A deed in substance, when duly executed, has the force and effect of a deed in fee simple to the grantee, the grantee’s heirs, assigns, and successors, to the grantee’s and the grantee’s heirs’, assigns’, and successors’ own use, with covenants on the part of the grantor with the grantee, the grantee’s heirs, assigns, and successors, that, at the time of the delivery of that deed the grantor was lawfully seized in fee simple of the granted premises, that the granted premises were free from all encumbrances, that the grantor had good right to sell and convey the same to the grantee and the grantee’s heirs, assigns, and successors, and that the grantor does warrant and will defend the same to the grantee and the grantee’s heirs, assigns, and successors, forever, against the lawful claims and demands of all persons. |
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