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How to eSign a document: eSignature legitimacy for Warranty Deed in Australia

what is a deed when studying for the real estate exam we learned that a deed represents evidence of the transfer it is a legal document that transfers property ownership rights in real estate in its most basic form a d contains the signature of the person transferring the real estate the date of the transaction the names of the party involved and a description of the property being transferred there are a few different types of deeds for different situations but today we are going to focus on the general warranty deed and the special warranty deed let's begin with a question what is a warranty deed a warranty deed gives the grantee a warranty or guarantee that the grantor does actually have legal title to the property the seller who is the grantor is promising the buyer that yes i do own this property and i have the right to sell it to you note that recording is not a requirement for a warranty deed but if recording is going to be done the document must be acknowledged warranty deeds are kind of a big deal because they provide the buyer with title protection from the seller in addition to guaranteeing their ownership of the property the seller warrants that the property is free of encumbrances except those noted in the deed itself which can be things like easement zoning restrictions and subdivision deed restrictions and the protections and warranty deeds are granted whether the seller and the buyer individuals or businesses this is why general warranty deeds and special warranty deeds are both good options for real estate sales where commercial or residential properties are transferred between parties who don't know each other ownership is transferred from seller to buyer with certain guarantees against future problems or claims which protect the buyer against fraud both types of deeds guarantee to the buyer that the seller owns the title that the seller is legally allowed to sell the property that the property has not already been sold that the property is free of debts or other claims and that the seller is responsible for any faults with the property a general warranty deed with the general warranty deed the grantor is responsible for any breach of warranties and guarantees even if the breach occurred without their knowledge or during a period when the grantor did not own the property that's what makes a general warranty deed so great the seller is guaranteeing that there are no issues with the title going all the way back to the original land grant and if any problems do crop up the grantee can sue the grantor for breach and warranty this obviously puts a greater amount of risk on the seller so title insurance is used in most transactions to help guard against possible claims and liens before a title company will provide insurance for a title they will conduct a full title search and explore any other possible breaches this gives the buyer extra peace of mind as both the seller and the title company have verified that title to the property looks clean special warranty deed a limited warrant deed or a special warranty deed also makes the grantor responsible for any breach of warranties and guarantees even if the breach occurred without their knowledge however where the guaranteeing a general warranty covers the property's entire history a special warranty deed only covers the time for which the seller owned it while the seller must still defend the title against other claims and compensate the buyer for any unsettled debts or damages they must only do so for debts and problems that happen during their ownership of the property for this reason special warranty deeds are only used in special cases where a general warranty deed is not a good option well i hope this video on warranty deeds has been helpful if nothing else sticks with you just remember that a general warranty dies offers general guarantee and the most protection as it covers the life of the property while the special warranty deeds are used in special cases and protect for one period of ownership the period that the seller owned the property this is joe from prep agent until next time keep it concise and keep it simple thanks for watching subscribe to our youtube channel to get updated videos and if you're serious about passing a real estate exam go to prepagent.com