Ohio Limited Warranty Deed FormsDeeds Com
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People also ask
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What is a limited warranty deed in Ohio?
In a Limited Warranty Deed, the seller guarantees that they have not caused any defects in title during their ownership, but they do not warrant against defects that may have existed before their ownership. Essentially, the seller is only responsible for title issues that occurred while they owned the property.
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Who benefits the most from a quitclaim deed?
There are many uses for a quitclaim deed, but one of the most common is to convey ownership between people who are related, like spouses, parents or other family members.
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What is the difference between a warranty deed and a limited warranty deed?
The limited warranty deed would prevent the Grantee from being able to hold the Grantor responsible for that title defect that arose before the Grantor originally took the title. It's a shorter period of time and it's a better conveyance for a seller than a general warranty deed.
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In which of the following situations would a quitclaim deed not be used?
A Quitclaim Deed Affects Ownership and the Name on the Deed, Not the Mortgage. Quitclaim deeds typically are not used in situations where the property involved has an outstanding mortgage.
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What is the difference between a quit claim deed and a warranty deed in Ohio?
The type of deed that is used in a real estate transaction will depend on the specific circumstances. For example, a general warranty deed is typically used in a purchase and sale transaction, while a quitclaim deed may be used when transferring property between family members.
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How to file a quit claim deed in Ohio?
Notarization: The grantor must sign the deed in a notary's presence to have it signNowd, as required by Ohio law. Record the Deed: Submit and record the quitclaim deed at the County Recorder's Office where the property is located, paying a fee starting at $34 for one page, plus $8 for additional pages.
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What are the disadvantages of a quit claim deed?
What are the Disadvantages of a Quit Claim Deed? No Protections For The Transaction: Unlike warranty deeds, a quitclaim deeds does not offer protections for the new property owner. There is no way to guarantee that the property is owned free and clear, and that there are no easements or restrictions.
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What is the difference between quitclaim and warranty deed?
A warranty deed makes a promise to the buyer that the seller has good title to the property. A quitclaim deed, on the other hand, makes no promises.
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