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What does a limited warranty deed mean?
A limited warranty deed is a legal document that transfers ownership of real property from one person or organization, known as the granter, to another, the grantee. The deed does not offer any guarantees about the condition of the title from the time period before the granter took ownership.
What is the difference between a warranty deed and a limited warranty deed?
The fundamental difference between the two types of deeds is that a General Warranty Deed offers Buyers protection for any and all prior defects in the title. Whereas, a Special/Limited Warranty Deed offers Buyers protection against only those defects created by a Seller during the period that the Seller owned the
What is the purpose of a 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 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.
Why would you use a special warranty deed?
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.
What is a limited warranty deed in Georgia?
The Georgia limited warranty deed provides a method of transferring property from one person to another in Georgia. Rather than providing a full warranty on the transfer, it provides a limited warranty whereby the seller (or granter) agrees to defend the buyer (or grantee) against any claims made through the seller.
What is a warranty deed in Georgia?
The Georgia general warranty deed is a form that can be used by a seller to transfer land and buildings to a buyer. This type of deed also includes a guarantee from the seller that he owns the property free and clear and that he has the legal authority to sell the property.
What is a limited warranty deed in Hawaii?
A special warranty deed is a legal document used to transfer, or convey, rights in real property from a granter (seller) to a grantee (buyer). Also referred to as a limited warranty deed, this type of deed provides significant liability protection for the granter, and less protection for the buyer.
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