Fundamentals | Unit 8 Flashcards
General Warranty Deed
Provides greatest protection by binding the grantor to certain covenants or warranties
Special Warranty Deed
Warrants that the grantor received title and that the grantor did not encumber the estate except as stated in the deed
Bargain and Sale Deed
No warranties but implies that the grantor holds title to the property.
Contains no expressed warranties against encumbrances
Quitclaim Deed
No warranties whatsoever and conveys only the interest, if any, that the grantor possesses in the property
Provides greatest protection by binding the grantor to certain covenants or warranties
General Warranty Deed
Warrants that the grantor received title and that the grantor did not encumber the estate except as stated in the deed
Special Warranty Deed
No warranties but implies that the grantor holds title to the property.
Contains no expressed warranties against encumbrances
Bargain and Sale Deed
No warranties whatsoever and conveys only the interest, if any, that the grantor possesses in the property
Quitclaim Deed
When does title to property transfer?
When the deed is delivered and accepted by the grantee
Intestate
Person died without a will
What are the two basic warranties in a Special Warranty Deed?
- Grantor received title
2. Property was not encumbered during the time the grantor held title, except as noted in the deed
What type of deed is used to correct misspelling?
Quitclaim Deed
Covenant of Quiet Enjoyment
The grantor guarantees that the title will be good against title claims of third parties
