Statutory Warranty Deed Maine Form
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What is a warranty deed in Maine?
General Warranty Deed — The General Warranty deed is often referred to simply as a warranty deed. It is a deed conveying title where the seller (grantor) makes six covenants or promises to the buyer (grantee) as part of the conveyance.
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Which of the following covenants are not found in a quitclaim deed?
A quitclaim deed is a particular type of property deed. It does not contain any warranties or covenants like the 'Covenant of Seisin', 'Covenant against encumbrances' or the 'Covenant of quiet enjoyment'. Instead, a quitclaim deed only transfers any ownership interest the grantor may have in the property.
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Which of the following is a feature of a quitclaim deed?
A quitclaim deed usually includes a legal description of the property, the name of the person who is transferring their interest, the name of the person who is receiving that interest (the grantee), the date, and both parties' signNowd signatures.
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Which of the following is a covenant contained in a quitclaim deed?
Quitclaim deeds do not contain any implied warranties or covenants. Under a quitclaim deed, the grantor simply transfers its whole interest in the described real estate, but makes no covenant or representation that the grantor in fact has any interest in the subject property.
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What is required on a deed in Maine?
It should include: The names and addresses of the grantor and grantee with original signatures and signNowd (with an acknowledgment statement) The names of all signers must be printed beneath their signature line. The notary and attorney name must be printed beneath their signature line.
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What is the main purpose of a warranty deed?
A warranty deed is a legal real estate document that protects the buyer and ensures that the seller holds a clear title to the property, has no outstanding liens or mortgages, and there will be no future claim to the title of the property.
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Which of the following deeds are typically quitclaim deeds?
Quitclaim deeds are commonly used for: Family property transfers. Divorce settlements. Adding or removing a spouse from the property title.
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What is a quitclaim deed most commonly used to?
Quitclaim deeds are typically used to transfer property in non-sale situations — that is, when no money changes hands, such as transfers of property between relatives or parties who know each other well.
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