![]() ![]() Lady Bird Deedįlorida uses lady bird deeds and Texas utilizes this special warranty deed(also called an enhanced life estate deed), as do several other states, to allow a grantor to retain a life estate with very few restrictions while receiving certain tax benefits. The grantor guarantees title to the property but doesn’t provide any warranties or guarantees that the property is free of claims. Bargain and Sale DeedĬertain states, such as New York and Washington, use a bargain and sale deed. However, a grant deed or limited warranty deed doesn’t provide any other warranties. Typically, the grantor guarantees they didn’t transfer title to anyone else, and the property has no undisclosed liens or encumbrances. It is also an appropriate real estate form when the transaction is a tax or foreclosure sale. When money is exchanged - purchasing a home, obtaining a mortgageĪnd here are three less common (but still important) types of property deed transfer forms used in certain circumstances: Grant DeedĪ grant deed, also known as a limited warranty deed in some states, is used in states such as California in place of a quitclaim deed when transferring property to non-relatives. When money is exchanged - trusts, fiduciaries, tax sales, commercial real estate sales When little to no money is exchanged - estate plans, divorce, fixing title defects Only when the current grantor owned the property Warrants against ALL defects, even those not caused by the current grantor ![]() Warrants against ONLY those defects caused by the current grantor Here is a table comparing the three most common types of property deed transfer forms: In special warranty and warranty deeds, the grantor owns the property rightfully and has the legal right to transfer property title and warrant against certain title defects. The most common types are special warranty and general warranty deeds. Unlike quitclaim deeds, some deeds offer protection and warranties for the grantee. Without this document, the new owner may be unable to record and prove their property ownership. A quitclaim deed form ( or quitclaim ) is a legal real estate document for the grantor (owner/seller) to transfer ownership rights of a piece of real property to the grantee (purchaser). ![]()
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