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Which is better - Warranty deed or Grant deed?

A warranty deed is a legal document that helps you transfer title to property with the guarantee that you have legal rights on it and no other person has any rights on it unless stated on the deed. If it's a general warranty deed, then the guarantee it offers extends for an indefinite period of time. As such, being a grantor, you will be held liable for defects in title existing even prior to his ownership on the property. However, if it's a special guarantee deed, the liability of the grantor extends only for his period of ownership. On the other hand, a grant deed assures that the title has not been conveyed to any other individual except the buyer and that the grantor has not encumbered the property with any lien. When you're selling or buying a property, it's better to use either general or special warranty deed depending upon the type of guarantee you're looking for. For any other kind of property transfer, a grant deed may be used. For further information on deeds, you may look at the discussions: Do I have to fill out grant deed to add name to title? How does Grant deed and Bargain and Sale deed differ?

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strikeu Joined: 16 Jan 2008 Posts: 1 1.35 Dollars($)	Posted: Wed Jan 16, 2008 7:28 pm    Post subject: Which is better - Special Warranty deed or Grant deed? I have seen both of these type deed describe exactly opposite. One reputable reference has the grant deed defined as a much more restrictive deed, which guarantees no liens or encumberances BEFORE the grantor had the property, and the warranty deed only assures no liens while the grantor HAD the property. another expert site has tose definitions reversed. Help please.
jenkin7 Joined: 04 Jun 2007 Posts: 939 140.77 Dollars($)	Posted: Wed Jan 16, 2008 10:33 pm    Post subject: Hello Strikeu, Welcome to the forum. A grant deed guarantees that the title has not been transferred to any other person except the buyer and that the title is free from any other lien attached to the property. The warranty deed assures that the seller holds a free and clear title to the property and has the right to sell it. In this case, the seller also agrees to compensate the buyer if he turns out to be wrong or if there is any legal claim by any other person. For further information on warranty deed, you may look here http://www.mortgagefit.com/warranty-deed.html
larry Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)	Posted: Thu Jan 17, 2008 10:57 am    Post subject: Hello Strikeu, I think when you are selling or buying a property, it is better to use a Warranty deed because it assures you that the title is lien free. In any other kind of property transfer you can use a Grant deed. If the transaction is happening within the family, people even like to Quitclaim deed. If you want to know more about quitclaim deed, you can check this article out - http://www.mortgagefit.com/quitclaim-deed.html Hope this will help you. Feel free to ask if you have any further questions. Best of luck, Larry
jheard Moderator Joined: 12 Dec 2007 Posts: 398 Location: Houston, TX 69.71 Dollars($)	Posted: Thu Jan 17, 2008 11:09 am    Post subject: A grant deed grants a property interest without any warranty. A special warranty deed is a grant deed that warrants that there are no existing encumbrances that were created during the time the grantor held the property interest. A general warranty deed is a grant deed that warrants that there are no existing encumbrances at all, either created during the time the grantor held the property interest or created at any time before the grantor aquired the property interest.
lisascherzer Joined: 04 Jan 2008 Posts: 746 93.70 Dollars($)	Posted: Sun Jan 20, 2008 3:42 pm    Post subject: I agree with Larry. _________________ Lisa Scherzer Allpointe Mortgage Expert Mortgage Broker 440-521-7060 Get Mortgage Quotes Compare 100+ Mortgage Lenders Here Find Real Estate Agents

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