Warranty Deed from Corporation to Husband and Wife Rhode Island Form
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People also ask
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Which is more important, title or deed in real estate?
When you own a home, the deed is the physical document that proves ownership. The title is the concept of legal ownership that the deed grants you. You can think of the deed as the document that transfers, or passes on, the title or the right to ownership. When you buy a home, you need both.
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Who benefits the most from a warranty deed?
General Warranty Deed It offers buyers the greatest possible protection from future claims against the title.
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What is a warranty deed in Rhode Island?
A warranty deed conveys an interest in real property to the named grantee with full warranties of title. Warranty deeds are statutory in Rhode Island under R.I.G.L. 34-11-15, and they convey real property in fee simple with the most assurance of title.
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What deed contains no warranties of ownership?
The quitclaim deed, also called a non-warranty deed, offers the grantee the least amount of protection. This type of deed conveys whatever interest the grantor currently has in the property—if any. No warranties or promises regarding the quality of the title are made.
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What is a quitclaim deed in RI?
A Rhode Island quitclaim deed is a legal document conveying a property title from a grantor to a grantee, but the grantor promises only to defend any claims that originate from the grantor.
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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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What is the best deed to transfer property?
A general warranty deed is a buyer's best protection against title challenges. The guarantee not only applies to the seller, but it applies to all of the individuals or entities involved in the chain of title for that particular property.
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What is the difference between a warranty deed?
A traditional deed simply transfers the ownership of a property from one party to another (in other words, the seller to the buyer.) Whoever legally holds the deed is the rightful owner of the property. A warranty deed, on the other hand, contains special assurances that the seller makes to the buyer.
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