Special Warranty Deed from Individual to Individual Arizona Form
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People also ask
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What are the different types of deeds in Arizona?
In general, Arizona property will involve three types of deeds: 1) a warranty deed, 2) a special warranty deed, and 3) a quit claim deed.? The main differences between them are the guarantees made by the seller regarding the title to the property.
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How do I transfer property to a family member in Arizona?
To transfer ownership of a property to a relative in Arizona, it is necessary to complete and file a legal document known as a deed. The signed deed must then be recorded with the county's land records office where the property resides.
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What is the best type of deed to have?
General warranty deeds give the grantee the most legal protection, while special warranty deeds give the grantee more limited protection. A quitclaim deed gives the grantee the least protection under the law.
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What are the disadvantages of a special warranty deed?
Cons: Fewer protections for buyers, who are now responsible for addressing any previous liens or claims for the property. Lenders and title companies may refuse to help buyers secure financing or title insurance for a property sold under special warranty.
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What is the primary difference between a special warranty deed and a general warranty deed?
A special warranty deed guarantees two things: The grantor owns, and can sell, the property; and the property incurred no encumbrances during their ownership. A special warranty deed is more limited than the more common general warranty deed, which covers the entire history of the property.
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What are the disadvantages of a special warranty deed?
Special warranty deed Advantages and Disadvantages ALSO READ How does a Cloud on Title Affect the Purchase and Sale of Property? – Reduced Buyer Protection: Buyers receive less protection compared to a General Warranty Deed. They need to be more diligent in investigating the property's title history.
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What is the difference between a warranty deed and a special warranty deed in Arizona?
Unlike a general warranty deed, a special warranty deed doesn't cover title claims over the property's entire history. It only guarantees against title issues that occurred when the seller owned the home.
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What type of deed is not commonly used in Arizona?
While not as common in Arizona, Bargain and Sale Deeds may be used in some situations. This type of deed conveys property without any warranties, similar to quitclaim deeds.
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