Should I Buy a House with a Special Warranty Deed?
AuthorAmanda Dodge. Date:
When you buy a piece of property, you will receive a deed that legally proves you own the land and any assets built on it. While the title is used to assign the property to your name, the deed is the legal document that proves this ownership. When you make an offer on a house, the seller might propose signing a special warranty deed. This offers different protections to the seller and risks for the buyer than a general warranty deed. In this guide will review what each deed type means and the risks and opportunities of moving forward with different options. What is a warranty deed? A warranty deed transfers a piece of real estate from one person or entity to another. The person who is selling the land is known as the grantor while the person buying the land is the grantee. Essentially, this deed states the grantor … Continued
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