Blend Title Warranty For Free
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What does warranty of title mean?
A warranty of title is a guarantee by a seller to a buyer that the seller has the right to transfer ownership and no one else has rights to the property. In addition, a warranty of title may be used to guarantee that no other party has copyright, patent or trademark rights in the property being transferred.
What does general warranty of title mean?
A general warranty deed is a type of deed where the granter or the seller guarantees that s/he holds clear title to a piece of real estate and has a right to sell it. The guarantee is not limited to the time the granter owned the property. It extends back to the property's origins.
What are warranties of title?
A warranty of title is a guarantee by a seller to a buyer that the seller has the right to transfer ownership and no one else has rights to the property. In addition, a warranty of title may be used to guarantee that no other party has copyright, patent or trademark rights in the property being transferred.
What are the warranties in a general warranty deed?
General Warranty Deeds In a General Warranty Deed, the seller usually gives four warranties regarding the land to the buyer. The seller warrants to the buyer that: The seller has the right to convey the real estate. The seller will defend the title to the real estate against the claims of all persons.
Is a warranty deed the same as a general warranty deed?
A warranty deed is sometimes called a general warranty deed. Using the word general distinguishes a general warranty deed from other deeds that provide a limited warranty, like special warranty deeds, statutory warranty deeds, or limited warranty deeds.
Does a warranty deed mean you own the property?
A warranty deed is a document often used in real estate that provides the greatest amount of protection to the purchaser of a property. It pledges or warrants that the owner owns the property free and clear of any outstanding liens, mortgages, or other encumbrances against it.
Is a warranty deed the same as a title?
Paired with title insurance, your warranty deed guarantees that the granter is the rightful owner and transfers these rights and title to you as the grantee or new owner of the property. With a warranty deed, your title is clear. However, both the warranty and quitclaim deeds are not sales documents by any means.
Is a warranty deed proof of 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.
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