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strikeu
Joined: 16 Jan 2008
Posts: 1
1.59 Dollars($)
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Post subject: Which is better - Special Warranty deed or Grant deed? |
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| I have seen both of these type deed describe exactly opposite. One reputable reference has the grant deed defined as a much more restrictive deed, which guarantees no liens or encumberances BEFORE the grantor had the property, and the warranty deed only assures no liens while the grantor HAD the property. another expert site has tose definitions reversed. Help please. |
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jenkin7
Joined: 04 Jun 2007
Posts: 3421
Location: Hawaii
512.47 Dollars($)
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Post subject: |
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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 |
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larry
Joined: 27 Jun 2007
Posts: 3328
474.49 Dollars($)
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Post subject: |
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Hello Strikeu,
I think when you are selling or buying a property, it is better to use a Warranty deed because it assures you that the title is lien free. In any other kind of property transfer you can use a Grant deed. If the transaction is happening within the family, people even like to Quitclaim deed.
If you want to know more about quitclaim deed, you can check this article out - http://www.mortgagefit.com/quitclaim-deed.html
Hope this will help you.
Feel free to ask if you have any further questions.
Best of luck,
Larry |
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jheard
Moderator
Joined: 12 Dec 2007
Posts: 599
Location: Houston, TX
98.69 Dollars($)
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Post subject: |
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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. |
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lisascherzer
Joined: 04 Jan 2008
Posts: 755
1.07 Dollars($)
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Post subject: |
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I agree with Larry.
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Lisa Scherzer
Allpointe Mortgage
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beachpatt
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Post subject: name change on deed |
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| I recently got divorced and want to change the name on my deed to my new name. Which form do I use. I am the only person listed on the deed. It is currently in my married name. |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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Post subject: |
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Hi beachpatt!
You will have to use a quitclaim deed form to change the name. In this form you can write your old name as the grantor and the current name as grantee.
Thanks. |
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Judy
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Post subject: My Name not on Home Deed, to refinance, I had to sign papers |
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Hi,
My name isn't on the home deed. We refinanced in September, and being his wife in Arkansas, I had to sign some of the refinance papers. In October, he filed for a divorce, and says that I have no claim to the property. He paid, with the refinance loan, taxes and 2 credit cards. What recourse do I have? |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 1679
Location: New Brunswick, New Jersey
315.05 Dollars($)
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Hi Judy,
Welcome to the forums.
If your name is not on the deed, then you don't have a claim on the property. However, as part of the divorce, you can legally ask for compensation or property-interest. You need to consult with a divorce attorney as to what you can claim and how.
Take Care |
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jackblack
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Post subject: Buying a garage |
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| I'm buying a garage in a condo complex. What type of deed do I need? |
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jenkin7
Joined: 04 Jun 2007
Posts: 3421
Location: Hawaii
512.47 Dollars($)
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Post subject: |
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Hi,
When buying or selling a property, It's better to go for a Warranty Deed as it warranties that the seller holds the title free and clear. A quitclaim or a grant deed, on the contrary, doesn't guarantee whether there's any claim or lien on the property. |
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jwbeland
Joined: 22 Feb 2009
Posts: 1
1.29 Dollars($)
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Post subject: Transfer of Inherited Mineral Rights |
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I'm the successor Trustee for my parents' trust, which contains some mineral rights. What's the best type of deed to use to transfer the mineral rights from the trust to the three heirs (myself included).
Thanks |
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Guest
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Post subject: |
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Hi jwbeland,
You are the successor trustee for your parents trust, I think you as the grantor can quitclaim the minerals rights to the three heirs (including you) as the grantees. |
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AnDy Ytan
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Post subject: |
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Iam going to buy the house which title will be conveyed by SPECIAL WARRANTY DEED
Does the title company insure for me ? if some one claim on it
what different grand deed and warranty deed ? |
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smithsussane
Joined: 18 Sep 2008
Posts: 3709
Location: Alaska
556.69 Dollars($)
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Post subject: |
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Hi AnDy!
Welcome to forums!
You can use a special warranty deed or a warranty deed to transfer the property when the property is free and clear of any liens. It is a better way to transfer a property than a quitclaim deed.
A warranty deed is a legal document which can be used to transfer title to property and no other person has any rights on it. A grant deed, on the other hand, assures that the title has not been conveyed to any other individual except the buyer and that the grantor does not has any lien on the property.
Feel free to ask if you've further queries.
Sussane |
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Deeds, Property Transfer and Estate Planning Forum
