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What does Deed type WD mean?

A warranty deed is a type of deed where the granter (seller) guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that he or she holds title to a piece of real estate.

What does Deed type SW mean?

A special warranty deed is a deed to real estate where the seller of the property known as the grantorwarrants only against anything that occurred during their physical ownership. In other words, the granter doesn't guarantee against any defects in clear title that existed before they took possession of the property.

What is the difference between a special and general warranty deed?

Real Estate The difference between a Warranty Deed and Special Warranty Deed is the extent of the coverage of the warranty. Both types of Warranty Deed (Special and General) guarantee the buyer: That the seller owns the title. ... That the property is free of debt or other claims (aside any mentioned in the deed)

What is a special warranty deed used for?

A special warranty deed provides assurance that the property's seller owns the property in question and has not faced any title issues during this ownership. A special warranty deed guarantees that the buyer won't face any legal action or title issues as a result of the actions of the property's previous owner.

Is a warranty deed and a deed the same thing?

The warranty deed acts to transfer property ownership from the current owner the “granter” to the new buyer, the “grantee.” ... For example, when you purchase a house, the seller signs a warranty deed granting you ownership. You then sign the deed of trust as a promise to repay the lender for the loan.

Is a warranty deed the same as a deed?

Warranty deed. A warranty deed is a type of deed where the granter (seller) guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that he or she holds title to a piece of real estate.

Does a warranty deed prove ownership?

A warranty deed is one type of proof of ownership; it shows the name of the owner and gives a brief description of the property. The previous owner or party granting you ownership signs the warranty deed, showing your rights to the property. A quitclaim deed is the other main type of property deed.

Why would you use a warranty deed?

A warranty deed is a document often used in real estate that provides the greatest amount of protection to the purchaser of property. It pledges or warrants that the owner owns the property free and clear of any outstanding liens, mortgages, or other encumbrances against it.

What is the difference between a warranty deed and a survivorship deed?

A deed is a legal document that transfers property from one party to another. ... A warranty deed is the most comprehensive and provides the most guarantees. Survivorship isn't so much a deed as a title. It's a way to co-own property where, upon the death of one owner, ownership automatically passes to the survivor.

What type of deed do you get when you buy a house?

There are three basic kinds of deeds: a general warranty deed, a special warranty deed, and a non-warranty or quitclaim deed. If you are a buyer, you want your deed to get you everything you bargained for.

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